Friday, September 23, 2011

MRIS August Sales Report: Zip Code 20910

And now, on to August. Today I analyze August's sales for zip code 20910 using data provided by MRIS and RBI. 20910 is home to Silver Spring, MD. It's roughly bordered by the District on the south, Sligo Creek on the east, I-495 on the north, and Rock Creek Park / Grubb Road on the west.

Twenty-five units sold in 20910 in August 2011. Key points in August's data:
  • Aggregate dollar volume was down 14.1% over the same month in 2010. Unit sales were 10.71% lower.  The average price for a home fell 3.79%, but the median price was up 5.22%. 
  • Twenty-one houses were sold for an average price of $479,137, down 3.46%. Four condos were sold for an average price of $215,000, down 28.16%.
  • Of the twenty-five homes sold, four were sold through a bank-mediated sale at a median price of $285,000.
  • For the past twelve months, the average monthly sales volume has been 14 detached houses, 2 townhouses, and 7 condos sold per month.
There were 85 active listings during August: 26 condos and 59 houses. More than half of the condos listed were priced $200-299K and more than half the houses were listed in the $400-600K price range.

According to MRIS, properties in 20910 sold for 95% of the listing price. At August's sales rate, there's a 6.5 months supply of condos and a 2.8 months supply of houses. Overall, homes are selling quickly in 20910 - the average days on market fell to 69 days, down almost 30% from August 2010. However, the condo market has tipped slightly in favor of buyers. Looking ahead, 24 homes went under contract in August and another 21 went under a contingent contract.

My good friends at Urban Turf published a version of this post on their site a few days ago.

Detailed Data for the Month
Average Sales Price
Dollar Volume
Transaction Volume
Monthly Data for the Past Year (by Housing Type)
Units Sold
Median Sales Price
Average Sales Price
Average Sales Price by Number of Bedrooms

1 comment:

Alexander said...

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