How's the Real Estate Market in 20878?

The North Potomac real estate market in ZIP code 20878 saw strong activity for May and June 2011.

What Has Sold?

In May, 27 single family homes, 25 townhomes and 12 condos were sold. Of these, 10 were short sales and eight were foreclosures, so distressed properties made up 28 percent of total sales.

In June, 38 single family homes, 25 townhomes and 18 condos were sold. Of these, five were short sales and four were foreclosures, so distressed properties made up 11 percent. You can see more details about what is selling at our North Potomac Property Values website.

What Is Happening with Home Prices?

The average sales price () is up for condos, townhomes and single family homes. 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 North Potomac/Gaithersburg.

To sign up for an automatic update on what is selling in your neighborhood, visit our Market Snapshot Report page.

How Long Is It Taking to Sell a Home?

The average days on market stayed the same in May and June at 45 days, longer by about 10 days compared to last year. To get more details on market trends, visit our North Potomac MD real estate slideshow presentation.

Who Is Buying?

In May, cash buyers (usually investors) represented 17 percent of buyers in 20878, less than in April. In June, only 7 percent were cash buyers. Overall in Montgomery County, cash buyers made up 17 percent of the home sales in both May and June.

What Is for Sale?

You can visit our home searching site to see homes for sale in ZIP code 20878.

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.