Frederick County Real Estate Market Report for July 2009
The real estate market reports are out from MRIS* for Frederick County sales in July. Here are the highlights:
Average Sold Price: 2009: 261,922 2008: 327,235 -20%
Median Sold Price: 234,000 295,000 -21%
Total Sold: 261 187 +40%
Average Days on Market: 116 123 -6%
Total Number of New Listings taken for the Month: 440
Total Number of properties marked Contract: 170
Total Number of properties marked Contingent: 135
Total of New Pendings (Contracts + Contingents): 305
We've seen a large jump in sales in July, 40%, coinciding with a larger drop in sales price, 20%. Given that as much as 30% of the listings are foreclosures and short sales, this is affecting the average price. Over half (55%) of the sales in Frederick County last month were in the $150K to $300K range. 52% of the home sales were FHA or VA loans.
With the current inventory around 1700 we have an absorption rate of about 6 months. A balanced market.
Compare to Frederick Real Estate Market Report for June 2009
See Montgomery County Real Estate Market Report for July 2009
See July Market Reports for:
Urbana Real Estate
Walkersville Real Estate
Middletown Real Estate
New Market Real Estate
Mount Airy Real Estate
Frederick City Real Estate
Thurmont Real Estate
Smaller Frederick County Communities - Real estate market reports July 2009
Absorption Rates
To see homes on the market, use our free MLS search, or contact us for information about the Frederick Real Estate Market.
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The Highland Group
Chris & Karen Highland * 301-831-9947
Turning Point Real Estate – 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119
Pictures of Frederick
* Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data