Leisure World of Maryland - Market Report - Rentals - August 2009
This market report details the rental activity in the senior citizens' community of Leisure World in Silver Spring, Maryland. The report period is for activity during the month of August 2009. At the time of this report (9/3/2009), there are a total of 41 homes on the market for rent. The rents of these homes range from $900 for a one-bedroom garden apartment condo to $1,825 per month for a two-bedroom high-rise condo. The average rent for these homes is $1,304. No significant change in the number of homes on the market of the average list price, since last month. While the longest has been on the market for over a year now (398 days), the average time on the market is near three months (84 days). During the month of August, while 10 units were added to the market 14 units were rented or applications to rent were taken.
One Bedroom
Ten of the 41 apartments on the market for rent are one-bedroom units ranging in rent from $900 to $1,300, with the average being $1033. Only three of the ten are new to the market since August 1st, the longest on the market for nearly nine months (265 days), the average being just over two and a half months (79 days).
Two one-bedroom apartments currently have an application to rent being processed at this time. The days on market for these two homes were just over two weeks (17 days) and just over a month (37 days). The last known listed rents were $1,050 and $1,100 for the apartments.
Three one-bedroom apartments were also rented during the month, ranging in rent from $1,000 to $1,095, with the average being $1.038. Days on market for these apartments ranged from less than three weeks (19 days) to near a month and a half (43 days) with the average being near one month (31 days).
Two Bedrooms
Clearly a majority of the homes on the market for rent (29 of the 41) are the two bedroom apartments. These range in rent from $950 to $1,825 per month, with the average being $1,342. While ten of the units were brought to the market in August the longest has been on the market for over (398 days), the average again being nearly three months (98 days).
A total of five two-bedroom apartments have applications to rent are being processed at this time. The last know rents for these apartments ranged from $1,000 to $1,350 per month, with the average being $1,130. These units were on the market from just over two weeks (19 days) to very nearly five months (146 days).
Nine two-bedroom apartments were rented during the month of August. The rents on these apartments ranged from $1,000 to $1,550, with the average being $1,252. The average number of days these homes were on market was nearly 3 months (88 days). The longest period was a nearly eight months (253 days).
Three Bedrooms
Currently there are seven three-bedroom rentals on the market for rent. The listed rents for these homes ranged from $1,350 to $1,750, averaging $1,600 per month. While two of these seven apartments are new to the market this month, the longest has been on the market for near six months (176 days), averaging time on market being about two and a half months (72 days).
Only two three-bedroom apartment was rented during the month of July. These apartment rented for $1,050 and $2,100, and had been on the market for an average of two months (57 days).
Four Bedrooms
The only four-bedroom home on the market for rent last month was withdrawn in August.
If I or my team can help with your real estate needs here in Leisure World of Maryland, please feel free to contact me by any of the following methods - my web page, email, or (301) 237-2277.
Robert J. Force
Prudential Carruthers Realtors - Gaithersburg, Md.
Robert J. Force
Prudential Carruthers Realtors
481 N. Frederick Ave.
Gaithersburg, Md. 20877
(301) 237-2277 (c)
(301) 948-4811 (w)
BobForce@mris.com