Health & Fitness
How's the Real Estate Market in Rockville's 20852 ZIP Code?
The real estate market in Rockville's 20852 ZIP code saw average sold prices down by 4 percent in September with homes taking longer to sell than during the same period last year.
The Rockville real estate market is doing pretty well compared to this time last year in ZIP code 20852, with the average sold price down by 4 percent. The average days on market are higher—60 days vs. 46 days at this time last year. Sellers are getting just slightly less of what they are asking—95.1 percent of the list price, and no better than 97.2 percent of last year's average list price.
What has sold?
In September, nine single family homes, four town homes and 25 condos went to settlement. There were eight short sales and no foreclosures in the 20852 ZIP code, making distressed properties 21 percent of sales. Neighborhoods with the most sales include the high rise Grosvenor Park, Midtown Bethesda North, garden condos in Georgetown Village and single-family homes in Hungerford.
Do you want to stay up to date on what homes are selling for in your neighborhood? Sign up for our Market Snapshot Report.
What is happening with home prices?
Single-family home average sales prices saw a decrease in September from a high in July, but townhouses and condos seemed to do well. (See the chart in the illustration in the upper right corner of this post or see our interactive charts at our Rockville MD Real Estate website.) A change in the average sales price for one month is not necessarily an indication of a trend. It simply could indicate that more homes were sold in a more or less expensive neighborhood of Rockville.
The most expensive home that sold was a colonial-style home in North Farm for $770,000.
See more details at Rockville Property Values.
Are sellers getting their asking price in Rockville?
The second chart in the illustration shows the proportion of the original listing price a home seller is getting when they sell. This takes into account price reductions. This month's average is 95.1 percent, compared to last year's average of 97.2 percent and the September county average of 93.9 percent.
How long is it taking to sell a home?
The average number of days it took a home to sell in September was 60, compared to 46 last year. The overall county average for the month was 77. See more market statistics in our Rockville Real Estate Market Trends Report.
Who is buying?
There were eight cash buyers (often investors) making up 21 percent of home sales in 20852 for September. Overall in Montgomery County, cash buyers made up 16.79 percent of home sales.
Call Bob Myers of Re/Max Realty Services at 301-910-9910 if you have any questions about the value of your home or the real estate market.
