ROCKVILLE MD 20850 - REAL ESTATE TREND INDICATOR
If you are thinking about buying or selling a home in zip code 20850, 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 190 listings of homes for sale on the multiple listing service. There were 66 new listings in the area and 50 listings went to pending new contracts. There were 36 actual settlements as compared to 44 homes sold last year. The total sold dollar volume was down 30.95%. The average number of days on the market was 65 from 80 days last year. The average sale price was 92.07% of the average list price. The average sold price was $459,123 and the median sold price was $425,000, down 13.44% from last year. 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 buyers have the benefit of the currently available $8,000 tax credit for purchases settled before the end of November. Many home buyers are taking advantage of the low minimum cash requirement (3.5%) for FHA financing. The FHA Streamlined 203(k) program allows buyer to include up to $35,000 of home improvements in the mortgage amount. Bargains are being found in the inventory of lender owned foreclosures (REO). All prospective buyers should obtain written pre-approval for mortgage financing. Check with us if you need a referral to a lender. 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: 20850 Rockville, 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 | 18 |
| $100,000 - 149,999 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 31-60 Days | 8 |
| $150,000 - 199,999 | 0 | 1 | 1 | 0 | 0 | 5 | 2 | 0 | 61 - 90 Days | 2 |
| $200,000 - 249,999 | 0 | 0 | 0 | 0 | 0 | 9 | 3 | 0 | 91-120 Days | 0 |
| $250,000 - 299,999 | 0 | 1 | 0 | 2 | 0 | 7 | 4 | 0 | Over 120 Days | 8 |
| $300,000 - 349,999 | 0 | 2 | 0 | 4 | 0 | 5 | 4 | 0 | Total | 36 |
| $350,000 - 399,999 | 0 | 5 | 1 | 0 | 0 | 13 | 11 | 0 | ||
| $400,000 - 449,999 | 1 | 2 | 0 | 0 | 0 | 8 | 6 | 0 | Type of Financing of Units Sold (No. of Units) |
|
| $450,000 - 499,999 | 0 | 1 | 0 | 0 | 0 | 11 | 1 | 0 | ||
| $500,000 - 599,999 | 0 | 4 | 2 | 0 | 0 | 35 | 3 | 0 | Conventional | 22 |
| $600,000 - 699,999 | 0 | 1 | 5 | 0 | 0 | 14 | 2 | 0 | FHA | 5 |
| $700,000 - 799,999 | 0 | 0 | 2 | 0 | 0 | 11 | 1 | 0 | VA | 2 |
| $800,000 - 899,999 | 0 | 0 | 1 | 0 | 0 | 10 | 1 | 0 | Assumption | 1 |
| $900,000 - 999,999 | 0 | 0 | 0 | 0 | 0 | 6 | 0 | 0 | Cash | 6 |
| $1,000,000 - 2,499,999 | 0 | 0 | 0 | 0 | 0 | 17 | 0 | 0 | Owner Finance | 0 |
| $2,500,000 - 4,999,999 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | All Other | 0 |
| $5,000,000 & Over | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unreported | 0 |
| Totals | 1 | 17 | 12 | 6 | 0 | 152 | 38 | 0 | Total | 36 |
| Grand Totals | 36 | 190 |
|
|
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. We always welcome your referrals! Your Real Estate Professional,
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 Fax: 301-921-4586 Main Office: 301-258-7757 x 569
Home Search Website: www.roykelley.com Visit Homes Prospector for access to all available properties.
Blog: http://activerain.com/blogs/roykelley
Follow me on Twitter: http://twitter.com/roykelley Many of our internet posts have links 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.
New limit for FHA Reverse Mortgages: $625,500. Seniors are using reverse mortgages to upgrade to more suitable homes. No credit or income requirements and no monthly mortgage payments.
We represent home buyers and sellers as their exclusive agents in the Maryland suburbs of Washington DC.
Roy Kelley
Roy Kelley & Associates
Associate Broker, RE/MAX Realty Group
Client Assistance: 301-670-8996
Recipient of the RE/MAX International Lifetime Achievement Award - 2008
