Frederick County Realty Market Statistics - August 2009
The real estate market reports are out from MRIS* for Frederick County sales in August. Here are the highlights:
2009 2008
Average Sold Price: 265,310 299,000 -11%
Median Sold Price: 233,000 265,000 -12%
Total Sold: 245 201 +22%
Average Days on Market: 119 144 17%
Total Number of New Listings taken for the Month: 372
Total Number of properties marked Contract: 180
Total Number of properties marked Contingent: 132
Total of New Pendings (Contracts + Contingents): 312
We're continuing to see a tightening up of the inventory of homes for sale in Frederick County. We've seen multiple offers on distressed sales, which make up about 30% of the market. 78% of the sales in Frederick County last month were under $300K, first-time buyer range. With the current inventory around 1626 we have an absorption rate of about 6 months, a balanced market.
Compare to Frederick Real Estate Market Report for July 2009
See Montgomery County Real Estate Market Report for August 2009
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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
* Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data