Frederick Real Estate Market Statistics for July
The Frederick County Market Statistics are out for the Month of July, 2008. County-wide, the number of units sold is down 25% over this time last year. The average sold price is down almost 11%, and the average number of days on the market is 123, compared to 115 this time last year. There is about 10 months of inventory.
A bright spot in the county (sort-of 
) is Urbana, where the number of sales is up 13%, but the average sales price is down 18%. Houses are on the market an average of 85 days, compared to 202 this time last year. A large part of the explanation is the number of distressed property sales. Urbana is becoming known as “short sale city”. (Investors: take note)
Monrovia has also seen increased sales, with 4 sales last month compared to 1 sale this time last year.
Thurmont and Walkersville tied for last place, with the total number of sales down 54.55%.
Two Interesting trends:
1. Of the 187 houses sold in July, 32% were FHA loans. That percentage was up from 29% in June, and 22% in May. We've seen FHA become more relevant in the last year.
2. The largest number of sales was in the $250K to $300K range, and the second largest number of sales was in the $200K to 250K range. This would indicate that first-time buyers are jumping into the market. Prices are becoming affordable for the entry-level crowd again. 
Investors are also taking advantage of the great deals.
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The Highland Group - Real Estate Teams
Chris & Karen Highland
Frederick County MD Real Estate Agents
Specializing in Frederick County Real Estate
301-831-9947
Real Estate Teams, LLC
isell4u2@msn.com
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