There are currently 657 real estate properties in Derwood, MD, with a median automated valuation model (AVM) price of $549,600.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Derwood, MD, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Derwood, MD, is $563,761.00, with the most expensive house in Derwood, MD, topping out at $1,634,800.00 and the cheapest home in Derwood, MD, clocking in at $202,000.00. In other words, there’s something for every potential homebuyer or savvy investor in Derwood, MD!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Derwood, MD, is on a rollercoaster ride. The average rent price in Derwood, MD, is $3,249.00. Indeed, when looking to rent in Derwood, MD, you can expect to pay as little as $1,590.00 or as much as $4,880.00, with the average rent median estimated to be $3,180.00. The good news is that finding an affordable and desirable property to rent in Derwood, MD -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Derwood, MD area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Derwood, MD and much more. Save thousands at closing with home foreclosure listings in Derwood, MD — up to 75% off market value!
Derwood is located in Montgomery, Maryland, with an estimated municipal population of 1,890 residents. All of the best foreclosed homes for sale in Derwood are located in the following zip code areas on Foreclosure.com: 20855. The estimated population per square kilometer (.62 miles) in Derwood is 1,164.
So, about how much do homes cost in Derwood? The most recent median value of resident-owned homes in Derwood is 563,617. An estimated 60.4 percent of households in Derwood own their homes, with an average family size of 2.71. The median household income in Derwood is 72,351, with45.3 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Derwood, the median commute time of resident workers (in minutes) is 36.9. And last, but certainly not least, are you looking for homes to rent in Derwood? If so, the average rent price paid by renters in Derwood is 1,160, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Derwood, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Derwood is 51, split between 44.8 percent male versus 55.2 female. The percentage of residents who report being married in Derwood is 69.4, with an average family size of 2.71.
The percentage of residents who report their race in Derwood is as follows:
|Black / African American||1.2%|
|American Indian / Alaskan Native||0%|
|Native Hawaiian / Other Pacifc Islander||1%|
Looking for family-friendly neighborhoods in and/or near Derwood? Or maybe you are searching for 55+ active adult communities in and/or near Derwood?
The percentage of residents who report their age in Derwood is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Derwood with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Derwood.
How do you know that living in -- or moving to -- Derwood is right where you need to be? Perhaps you grew up in Derwood or already live nearby; therefore, the decision to buy a home in Derwood is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Derwood for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Derwood:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Derwood.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Derwood can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Derwood, meanwhile, can field multiple offers from more qualified buyers.