CLARKSBURG MD 20871 REAL ESTATE TREND INDICATOR
If you are thinking about buying or selling a home in zip code 20871, you should take a close look at the following report that compares the statistics for the past month with the same month last year. During the month, there were 111 active listings of homes for sale in 20871. There were 34 new listings in the area and 30 listings went to new pending contracts. There were 10 actual settlements as compared to 8 homes sold last year. The total sold dollar volume was down 6.7%. The average number of days on the market was 168 from 178 days last year. The average sale price was 94.67% of the average list price. The median sold price was $412,213. What does this mean? It is still a soft market which favors buyers. Buyers have the largest selection and the lowest prices that have been available for several years. First time home buyers have the benefit of the currently available $8,000 tax credit for settlements that take place before the end of November, 2009. The lenders still have a surplus inventory of foreclosures in Montgomery County and buyers are taking advantage of the bargains and the lowest interest rates in years. Many home buyers are taking advantage of the low 3.5% minimum cash requirement for FHA financing. The FHA Streamlined 203(k) loan allows borrowers to include up to $35,000 of home improvements in the mortgage amount. Many of the homes on the market have deferred maintenance issues. The Housing Opportunities Commission (HOC) is offering 100% financing for qualified first time buyers.
Roy Kelley, Associate Broker, RE/MAX Realty Group
Home Search Website: www.roykelley.com
Email: roykelley@mris.com; Client Assistance: 301-670-8996
Metropolitan Regional Information Systems, Inc. ZIP Code Statistics - <$100K to >$5M Format
ZIP Code: 20871 Clarksburg, MD
From: 05/01/2009 to 05/31/2009 Statistics generated on: 06/08/2009
| |
Residential
Unit Sales
Number of Bedrooms |
Active Listings |
|
Time on Market |
| Price Class |
2
Or Less |
3 |
4
or More |
Condo
Coop |
Ground
Rent |
Residential
|
Condo
Coop |
Ground
Rent |
of Units Sold
(No. of Units) |
| Under $100,000 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
1 -30 Days |
1 |
| $100,000 - 149,999 |
0 |
0 |
0 |
0 |
0 |
0 |
1 |
0 |
31-60 Days |
2 |
| $150,000 - 199,999 |
0 |
0 |
0 |
1 |
0 |
0 |
1 |
0 |
61 - 90 Days |
0 |
| $200,000 - 249,999 |
0 |
0 |
0 |
0 |
0 |
0 |
4 |
0 |
91-120 Days |
2 |
| $250,000 - 299,999 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Over 120 Days |
5 |
| $300,000 - 349,999 |
0 |
0 |
1 |
0 |
0 |
14 |
0 |
0 |
Total |
10 |
| $350,000 - 399,999 |
1 |
1 |
1 |
0 |
0 |
20 |
1 |
0 |
|
| $400,000 - 449,999 |
0 |
0 |
2 |
0 |
0 |
13 |
0 |
0 |
Type of Financing
of Units Sold
(No. of Units) |
| $450,000 - 499,999 |
0 |
0 |
1 |
0 |
0 |
14 |
0 |
0 |
| $500,000 - 599,999 |
0 |
0 |
1 |
0 |
0 |
18 |
0 |
0 |
Conventional |
4 |
| $600,000 - 699,999 |
0 |
0 |
1 |
0 |
0 |
9 |
0 |
0 |
FHA |
4 |
| $700,000 - 799,999 |
0 |
0 |
0 |
0 |
0 |
7 |
0 |
0 |
VA |
1 |
| $800,000 - 899,999 |
0 |
0 |
0 |
0 |
0 |
4 |
0 |
0 |
Assumption |
0 |
| $900,000 - 999,999 |
0 |
0 |
0 |
0 |
0 |
1 |
0 |
0 |
Cash |
0 |
| $1,000,000 - 2,499,999 |
0 |
0 |
0 |
0 |
0 |
4 |
0 |
0 |
Owner Finance |
0 |
| $2,500,000 - 4,999,999 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
All Other |
1 |
| $5,000,000 & Over |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Unreported |
0 |
| Totals |
1 |
1 |
7 |
1 |
0 |
104 |
7 |
0 |
Total |
10 |
| Grand Totals |
10 |
111 |
|
|
| |
2009 |
2008 |
% Change |
| Total Sold Dollar Volume: |
$ 4,031,925 |
$ 4,321,400 |
- 6.70 % |
| Average Sold Price: |
$ 403,193 |
$ 540,175 |
- 25.36 % |
| Median Sold Price: |
$ 412,213 |
$ 417,450 |
- 1.25 % |
| Total Units Sold: |
10 |
8 |
25.00 % |
| Average Days on Market: |
168 |
178 |
- 5.62 % |
| Average List Price for Solds: |
$ 425,889 |
$ 582,938 |
- 26.94 % |
Avg Sale Price as a
percentage of Avg List Price: |
94.67 % |
92.66 % |
|
|
| Total NEW listings: |
34 |
| Total Properties Marked Contract: |
18 |
| Total Properties Marked Contingent Contract: |
12 |
| Total NEW pendings (Contracts + Contingents): |
30 |
|
Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2009 - Information deemed reliable, but is not guaranteed.
Please contact us with your questions on the residential real estate market.
Your Real Estate Advisor,
Roy Kelley
Roy Kelley & Associates
Associate Broker, RE/MAX Realty Group
6 Montgomery Village Avenue, Suite 200 Gaithersburg, MD 20879 USA
Direct: 301-921-4569 Client Assistance: 301-670-8996
Email: roykelley@mris.com Main Office: 301-258-7757 x 569
Home Search Website: www.roykelley.com Visit Homes Prospector for access to all MRIS listings.
Blog: http://activerain.com/blogs/roykelley
Follow me on Twitter: http://twitter.com/roykelley Links to many of our blogs appear on Twitter & Facebook.
FIRST TIME HOME BUYER $8,000 TAX CREDIT: www.federalhousingtaxcredit.com
FHA loan limits for Montgomery County and Frederick County: $729,750. Limit for FHA reverse mortgages: $625,000.
