GERMANTOWN, MARYLAND 20876 REAL ESTATE TREND INDICATOR

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Education & Training with Retired Real Estate Broker, Maryland Blogger

GERMANTOWN, MARYLAND 20876 REAL ESTATE TREND INDICATOR    

If you are thinking about buying or selling a home in zip code 20876, you should take a close look at the following report that compares the statistics for November with the same month last year. There were 33 new listings in the zip code and 24 listings went to pending new contracts. There were 16 actual settlements as compared to 16 homes sold last year. The average sold price was $263,341 and the median sold price was $257,450.  The total sold dollar volume was down 35.36%. The average number of days on the market was 126 as compared to 103 days last year.  Home sellers need to be prepared for the longer marketing time.  The average sale price was 92.18% of the average list price.  (Buyers are making low offers).  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 $7,500 tax credit. The lenders still have a surplus inventory of foreclosures in Montgomery County and buyers are taking advantage of the bargains  Some buyers are finding it more difficult to qualify for mortgage financing.  All prospective buyers should get pre-approved for mortgage financing as the first step in the home purchase process.   

Roy Kelley, Associate Broker, RE/MAX Realty Group

Home Search Website:  www.roykelley.com

Email:  roykelley@mris.com;  Client Assistance:  301-670-8996

ZIP Code: 20876 Germantown, MD
From: 11/01/2008 to 11/30/2008                Statistics generated on: 12/08/2008

  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 1 0 1 0 1 -30 Days 4
$100,000 - 149,999 0 0 0 1 0 1 1 0 31-60 Days 2
$150,000 - 199,999 2 1 0 0 0 32 14 0 61 - 90 Days 3
$200,000 - 249,999 0 0 1 1 0 24 10 0 91-120 Days 2
$250,000 - 299,999 0 2 1 1 0 20 3 0 Over 120 Days 5
$300,000 - 349,999 0 1 1 1 0 17 6 0 Total 16
$350,000 - 399,999 0 0 0 0 0 14 1 0  
$400,000 - 449,999 0 0 0 0 0 9 0 0 Type of Financing
of Units Sold
(No. of Units)
$450,000 - 499,999 0 0 1 0 0 9 0 0
$500,000 - 599,999 0 0 1 0 0 12 0 0 Conventional 9
$600,000 - 699,999 0 0 0 0 0 6 0 0 FHA 6
$700,000 - 799,999 0 0 0 0 0 0 0 0 VA 0
$800,000 - 899,999 0 0 0 0 0 2 0 0 Assumption 0
$900,000 - 999,999 0 0 0 0 0 1 0 0 Cash 1
$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 0
$5,000,000 & Over 0 0 0 0 0 0 0 0 Unreported 0
Totals 2 4 5 4 1 151 36 0 Total 16
Grand Totals 16 187    
    2008   2007   % Change
Total Sold Dollar Volume: $ 4,213,450 $ 6,518,700 - 35.36 %
Average Sold Price: $ 263,341 $ 407,419 - 35.36 %
Median Sold Price: $ 257,450 $ 390,000 - 33.99 %
Total Units Sold: 16 16 0.00 %
Average Days on Market: 126 103 22.33 %
Average List Price for Solds: $ 285,691 $ 448,609 - 36.32 %
Avg Sale Price as a
percentage of Avg List Price:
92.18 % 90.82 %  
Total NEW listings: 33
Total Properties Marked Contract: 12
Total Properties Marked Contingent Contract: 12
Total NEW pendings (Contracts + Contingents): 24

Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2008 - Information deemed reliable, but is not guaranteed.

Please contact us with your questions on the residential real estate market.

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Roy and Dolores Kelley Photographs

Roy Kelley, a real estate broker since 1960, has retired from his position as Associate Broker with RE/MAX Realty Group in Gaithersburg, Maryland. The needs of past clients and referrals will be met by long time associates. 



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