Frederick County MD Real Estate Market Report for October 2009
The real estate market reports are out from MRIS* for Frederick County sales in October. Here are the highlights:
2009 2008
Average Sold Price: 256,565 276,620 -7%
Median Sold Price: 233,000 234,500 -1%
Total Sold: 225 170 +32%
Average Days on Market: 121 157 -23%
Total Number of New Listings taken for the Month: 375
Total Number of properties marked Contract: 150
Total Number of properties marked Contingent: 115
Total of New Pendings (Contracts + Contingents): 265
We're continuing to see of the inventory of homes for sale in Frederick County decrease month after month. Prices are stabilizing, we've seen multiple offers on sales below $200,000, which make up about 40% of the market. 72% of the sales in Frederick County last month were under $300K, first-time buyer range. With the current inventory around 1561 (about 1300 residential) we have an absorption rate of about 4 -5 months, a balanced market.
With the extension and expansion of the First-time Homebuyer's Tax Credit, we expect to see a very healthy market continuing into next year.
Compare to Frederick County Real Estate Market Report for September2009
See Montgomery County Real Estate Market Report for October 2009
Coming: September 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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* Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data