POOLESVILLE MD 20837 REAL ESTATE TREND INDICATOR
If you are thinking about buying or selling a home in zip code 20837, 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 31 active listings of homes for sale in Poolesville. There were 5 new listings in the area and 8 went to pending new contracts. There were 4 settlements as compared to 2 homes sold last year. The total sold dollar volume was down 66.93% from last year. The median sold price was $364,500. 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. Many home buyers are using FHA financing to take advantage of the low 3.5% minimum cash requirement. The FHA Streamlined 203(k) program allows borrowers to include up to $35,000 of the cost of home improvements in the mortgage. The Housing Opportunities Commission (HOC) is offering 100% financing for qualified first time buyers.
Winchester Homes has opened a beautiful model in the new Stoney Springs community on Whites Ferry Road. It will be interesting to watch the success of this community and its impact on the real estate market in Poolesville.
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: 20837 Poolesville, MD
From: 06/01/2009 to 06/30/2009 Statistics generated on: 07/08/2009
| |
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 |
0 |
0 |
31-60 Days |
0 |
| $150,000 - 199,999 |
0 |
0 |
1 |
0 |
0 |
0 |
0 |
0 |
61 - 90 Days |
1 |
| $200,000 - 249,999 |
0 |
0 |
0 |
0 |
0 |
3 |
0 |
0 |
91-120 Days |
0 |
| $250,000 - 299,999 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Over 120 Days |
2 |
| $300,000 - 349,999 |
0 |
1 |
0 |
0 |
0 |
1 |
0 |
0 |
Total |
4 |
| $350,000 - 399,999 |
0 |
0 |
1 |
0 |
0 |
6 |
0 |
0 |
|
| $400,000 - 449,999 |
0 |
0 |
0 |
0 |
0 |
4 |
0 |
0 |
Type of Financing
of Units Sold
(No. of Units) |
| $450,000 - 499,999 |
0 |
0 |
1 |
0 |
0 |
1 |
0 |
0 |
| $500,000 - 599,999 |
0 |
0 |
0 |
0 |
0 |
4 |
0 |
0 |
Conventional |
2 |
| $600,000 - 699,999 |
0 |
0 |
0 |
0 |
0 |
7 |
0 |
0 |
FHA |
1 |
| $700,000 - 799,999 |
0 |
0 |
0 |
0 |
0 |
2 |
0 |
0 |
VA |
0 |
| $800,000 - 899,999 |
0 |
0 |
0 |
0 |
0 |
2 |
0 |
0 |
Assumption |
1 |
| $900,000 - 999,999 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Cash |
0 |
| $1,000,000 - 2,499,999 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Owner Finance |
0 |
| $2,500,000 - 4,999,999 |
0 |
0 |
0 |
0 |
0 |
1 |
0 |
0 |
All Other |
0 |
| $5,000,000 & Over |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Unreported |
0 |
| Totals |
0 |
1 |
3 |
0 |
0 |
31 |
0 |
0 |
Total |
4 |
| Grand Totals |
4 |
31 |
|
|
| |
2009 |
2008 |
% Change |
| Total Sold Dollar Volume: |
$ 1,421,900 |
$ 4,300,000 |
- 66.93 % |
| Average Sold Price: |
$ 355,475 |
$ 2,150,000 |
- 83.47 % |
| Median Sold Price: |
$ 364,500 |
$ 2,150,000 |
- 83.05 % |
| Total Units Sold: |
4 |
2 |
100.00 % |
| Average Days on Market: |
196 |
99 |
97.98 % |
| Average List Price for Solds: |
$ 388,425 |
$ 2,234,500 |
- 82.62 % |
Avg Sale Price as a
percentage of Avg List Price: |
91.52 % |
96.22 % |
|
|
| Total NEW listings: |
5 |
| Total Properties Marked Contract: |
6 |
| Total Properties Marked Contingent Contract: |
2 |
| Total NEW pendings (Contracts + Contingents): |
8 |
|
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 Click on Homes Prospector for access to all of the available home listings on MRIS.
Blog: http://activerain.com/blogs/roykelley
Follow me on Twitter: http://twitter.com/roykelley
FIRST TIME HOME BUYER $8,000 TAX CREDIT: www.federalhousingtaxcredit.com
FHA loan limits for Montgomery County and Frederick County: $729,750. New limit for FHA reverse mortgages: $625,000.
