The Rockville real estate market is off only a little bit compared to last year at this time in zip code 20853. The average sold price is down by 5.77% for single family homes and down 4.09% overall; the average days on market are lower, so that's good; but sellers are getting a little less of what they are asking - 93.9% of the list price vs. 94.4% of last year's average list price.
What Has Sold?
In September, 21 single family homes sold, only 1 condo and no town homes sold. There were 6 short sales and no foreclosures in the 20853 zip code, making distressed sales 27% of total sales for the month.
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What Is Happening with Home Prices?
Single family home sales did see a slight increase in September (see chart - mouse over for details). Since there was only 1 condo sale and no townhouse sales, you can't really make a comparison to previous time periods. 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's 20853.
The most expensive home that sold in 20853 was a colonial for $800K in Brooke Manor.
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 93.9%, compared to last year's average of 94.4% 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 71, compared to 94 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 was 1 cash buyer (often investors), which is 4.54% of total sales in 20853 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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