How's the Real Estate Market in Rockville's 20853 ZIP Code?

The Rockville real estate market is off only a little bit compared to this time last year in the 20853 ZIP code. The average sold price is down by 5.77 percent for single-family homes and down 4.09 percent overall. The average days on market are lower—so that's good—but sellers are getting a little less than what they are asking: 93.9 percent of the average list price vs. 94.4 percent at this time last year.

What has sold?

In September, 21 single family homes sold, only one condo and no town homes sold. There were six short sales and no foreclosures in the 20853 ZIP code, making distressed sales 27 percent 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 illustration for details, or see our interactive charts on our Rockville MD Real Estate website). Because there was only one 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 simply could indicate that more homes were sold in a more or less expensive neighborhood of Rockville's 20853 ZIP code. 

The most expensive home that sold in 20853 was a colonial for $800,000 in Brooke Manor.

See more details at Rockville Property Values.

Are sellers getting their asking price in Rockville?

The second chart in the illustration 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 percent, compared to last year's average of 94.4 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 71, compared to 94 days 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 was one cash buyer (cash buyers are often investors), which was 4.54 percent of total sales in 20853 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 current state of the real estate market.