WASHINGTON COUNTY, MARYLAND REAL ESTATE TREND INDICATOR

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Education & Training with Retired Real Estate Broker, Maryland Blogger

WASHINGTON COUNTY, MARYLAND REAL ESTATE TREND INDICATOR  

This report is important if you are planning to purchase or sell a home in Washington County.  The following information is for January and the statistics are compared with the same month last year.  During the month, there were 154 new listings and 82 new pending contracts. The sold dollar volume was down 38.99% from last year. The number of homes sold was down to 57 from 76 last year. The average days on the market was 188 days as compared to 160 days last year.  The average sale price was 86.16% of the average list price.  The median sold price was $179,990. The market is still soft which means that it favors buyers. Foreclosures and short sales listings still influence the area market. Buyers are finding it more difficult to qualify for mortgage financing and the trend is to the use of FHA financing which is attractive for most of the buyers.  First time buyers have the benefit of the currently available federal tax credit.  Investors are buying in the area because the prices on lender owned foreclosures are the lowest in several years. Investors are now experiencing the new underwriting restrictions that limit the number of financed properties.

Roy Kelley, Associate Broker, RE/MAX Realty Group

Home Search Website:  www.roykelley.com

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

Washington County, MD
From: 01/01/2009 to 01/31/2009                Statistics generated on: 02/06/2009

  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 5 5 2 0 0 64 2 3 1 -30 Days 9
$100,000 - 149,999 4 5 0 0 0 141 19 0 31-60 Days 8
$150,000 - 199,999 1 12 3 0 0 266 15 0 61 - 90 Days 9
$200,000 - 249,999 0 5 2 0 0 184 3 1 91-120 Days 2
$250,000 - 299,999 1 0 5 0 0 179 5 0 Over 120 Days 29
$300,000 - 349,999 0 1 2 0 0 67 1 0 Total 57
$350,000 - 399,999 0 1 2 0 0 74 0 0    
$400,000 - 449,999 0 1 0 0 0 33 0 0 Type of Financing
of Units Sold
(No. of Units)
$450,000 - 499,999 0 0 0 0 0 31 0 0
$500,000 - 599,999 0 0 0 0 0 32 0 1 Conventional 24
$600,000 - 699,999 0 0 0 0 0 17 0 0 FHA 14
$700,000 - 799,999 0 0 0 0 0 7 0 0 VA 5
$800,000 - 899,999 0 0 0 0 0 4 0 0 Assumption 1
$900,000 - 999,999 0 0 0 0 0 4 0 0 Cash 11
$1,000,000 - 2,499,999 0 0 0 0 0 6 0 0 Owner Finance 0
$2,500,000 - 4,999,999 0 0 0 0 0 3 0 0 All Other 2
$5,000,000 & Over 0 0 0 0 0 0 0 0 Unreported 0
Totals 11 30 16 0 0 1112 45 5 Total 57
Grand Totals 57 1162    
    2009   2008   % Change
Total Sold Dollar Volume: $ 10,641,612 $ 17,441,741 - 38.99 %
Average Sold Price: $ 186,695 $ 229,497 - 18.65 %
Median Sold Price: $ 179,990 $ 186,500 - 3.49 %
Total Units Sold: 57 76 - 25.00 %
Average Days on Market: 188 160 17.50 %
Average List Price for Solds: $ 216,685 $ 271,163 - 20.09 %
Avg Sale Price as a
percentage of Avg List Price:
86.16 % 84.63 %  
Total Number of NEW listings  
taken for the month: 154

Total Number of Properties   
 
marked Contract for the month: 51
Total Number of Properties     
marked Contingent for the month: 31

Total Number of NEW pendings        
 
(CONTRACTS + CONTINGENTS): 82

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.

Posted by

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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