Frederick County Real Estate Market Statistics for March 2009
This is the synopsis for March 2009 real estate sales activity for the entire county:
| Frederick County | 2009 | 2008 | % Change |
| Avg. Price | $262,235 | $323,628 | -19% |
| Median Price | $238,700 | $290,000 | -18% |
| DOM | 158 | 177 | -11% |
| # homes sold | 171 | 153 | +21% |
| New Listings: | 430 |
| Total Marked Contract: | 178 |
| Total Marked Contingent: | 141 |
| Total Pending (contract + contingent) | 319 |
Compare to Frederick County Real Estate market statistics for February 2009.
There are currently 1812 homes on the market in Frederick County. The number of total pending contracts is 319, the highest we've seen since August 2006, a very good sign for the Spring market. This gives us an absorption rate of 6 months, which is an indication of a balanced market. An absorption rate of more than 6 months is a generally thought of as a buyer's market, and anything less than 6 months is a seller's market.
Of course, not all of the 319 pending contracts will actually go to closing, but still a great sign. First-time buyers are entering the market in numbers, in part, to take advantage of the $8000 first-time home buyer's tax credit. They're also taking advantage of the affordability in the Frederick real estate market, which, according to the NAR, is at an all time high since the numbers first started to be tracked in 1971.
Could we be seeing a bottoming out of the Frederick real estate market?
Related Posts:
Real estate market statistics for Urbana MD March 2009
Real estate market statistics for Middletown MD March 2009
Real estate market statistics for Walkersville MD March 2009
Real estate market statistics for Mount Airy MD March 2009
Real estate market statistics for New Market MD March 2009
Real estate market statistics for Frederick City March 2009
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The Highland Group
Chris & Karen Highland * 301-831-9947
Turning Point Real Estate – 301-831-8232
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