How's the Real Estate Market in Derwood's 20855 ZIP Code?

The real estate market in Derwood's ZIP code 20855 saw the following changes in September 2011 compared to the same month last year:

• Average sold price increased by 5.36 percent.
• Average days on market are higher, from 72 days to get a home sold last year to 128 days this year.
• Sellers are getting less of what they are asking: 89.3 percent of the list price vs. 97.2 percent last year.

What has sold?

In September, only four single-family homes sold. There were no condos or townhomes sold, nor were there any short sales or foreclosures in the 20855 ZIP code.  

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 in Derwood?

Single-family home average price increased in September (see the first chart in the illustration above or visit our website for interactive charts at Rockville MD Real Estate). A change in the average sales price for one month is not necessarily an indication of a trend. It could indicate that more homes were sold in a more or less expensive neighborhood of Derwood.

The most expensive home that sold was a renovated and remodeled colonial in Granby Woods. The original list price was $759,000. It closed for $580,000.

See more details at Rockville Property Values.

Are sellers getting their asking price in Derwood?

The second chart at right shows this year's trend for the proportion of the original list price a home seller is getting when they sell. This takes into account price reductions. This month's overall average is 89.3 percent of the original list price, compared to last year's average of 97.2 percent and the overall 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 128, compared to 72 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 no cash buyers (often investors) in 20855 in 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.