The Rockville real estate market is doing better this month compared to last year in zip code 20850, with the average sold price being up almost 21% and the average days on market 25 days lower. Rockville home sellers are getting 96.5% of their asking price, which is better than last year's 93.6%.
What Has Sold?
In September, 14 single family homes sold, 12 town homes and 4 condos sold. There were 2 short sales and 3 foreclosures in the 20850 zip code, making distressed properties 16.6% of sales.
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What Is Happening with Home Prices?
Single family homes sales saw a decrease in average price in September (see chart - mouse over for details) from an unusual high point in August, bringing the average price more in line with the earlier part of this year. A change in the average sales price for one month is not necessarily an indication of a trend, it could just 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, newly built in the community of Chestnut Lodge for $1,061,451.
You can see more details about home sales in our report on Rockville Property Values.
Are Sellers Getting Their Asking Price in Rockville?
The chart below (mouse over for details) shows this year's trend for the proportion of original listing price a home seller is getting when they sell. This takes into account price reductions. This month's overall average is 96.5%, compared to last year's average of 93.6% and the overall county average that is 93.9%.
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 85 last year. The overall county average for the month was 77. You can see more market statistics in our Rockville Real Estate Market Trends Report.
Who is Buying?
There were 7 cash buyers (often investors) making up 23.3% of home sales in 20850 for September. Overall in Montgomery County, cash buyers made up 16.79% of home sales.
What is For Sale?
Click on the map below to start your Rockville home search, save your favorites, set up automatic emails, and receive alerts for properties that fit your criteria.
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.
Bob Myers, The Myers Team, Re/Max Realty Services, 15020 Shady Grove Road, #400, Rockville, MD 20850 Cell 301-910-9910, email bobmyers4homes@gmail.com, @bobmyers4homes
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