Damascus Home Sales Report for May 2016

Damascus Real Estate

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How's the Real Estate Market in Damascus MD?

Damascus home sales saw the following changes in May 2016, compared to last year at this time:

Gaithersburg Housing Market

- average sold price was $320,869 compared to last year's $325,605

- average days on market to sell a home went to 76 days from 66 days

- average sold price sellers are getting changed from 98.1%  to 95.9%

Damascus market activity is summarized in the following chart (mouse over for details):

Damascus Homes Sold

Through Mayl 2016 there were 463 single family homes, 22 townhouses and 8 condos sold.The most active neighborhoods were Sweepstakes, Damascus Valley Park and Damascus Outside. The most expensive home that has sold was in Kings Valley Manor for $645,000.

The chart below shows average home price in Damascus by type.

Are Sellers Getting Their Asking Price in Damascus?

The chart below shows the proportion of the original listing price a home seller is getting when they sell, taking into account price reductions. There were 14 cash buyers (often investors) 15% of the 93 buyers so far in 2016.  You can see more details in our Damascus Property Value Report.

How Long is it Taking to Sell a Home?

So far in 2016, the average days on market was 76 compared to 66 days last year. You can see more market statistics in our Damascus Real Estate Market Trends Report.

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.  Search for Damascus homes for sale, save your favorites and get updates:

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