Frederick City MD Real Estate Market Report for October 2009
Real Estate Market Report for Frederick City, by zip code:
| 21701 | 2009 | 2008 | % Change |
| Avg. Price | $229,529 | $255,137 | -10% |
| Median Price | $218,500 | $242,500 | -10% |
| DaysOnMarket | 105 | 167 | -37% |
| # homes sold | 46 | 34 | +35% |
| New Listings: | 65 |
| Total Marked Contract: | 29 |
| Total Marked Contingent: | 11 |
| Total Pending (contract + contingent) | 40 |
There are 265 active listings in the zip code, which represents roughly a 6-7 month inventory, or absorption rate. 80% of the homes sold were under $300,000. 35% sold in under 30 days.
| 21702 | 2009 | 2008 | % Change |
| Avg. Price | $232,465 | $253,317 | -8% |
| Median Price | $207,750 | $215,000 | -8% |
| DOM | 104 | 156 | -33% |
| # homes sold | 34 | 34 | 0% |
| New Listings: | 58 |
| Total Marked Contract: | 33 |
| Total Marked Contingent: | 22 |
| Total Pending (contract + contingent) | 55 |
There are currently 242 active listings in the zip code, representing roughly a 4-5 month inventory. 47% of sales in October took place in under 30 days. 76% of homes sold were under $300,000, first-time buyer range.
| 21703 | 2009 | 2008 | % Change |
| Avg. Price | $189,000 | $210,348 | -10% |
| Median Price | $180,000 | $210,000 | -14% |
| DOM | 104 | 147 | -29% |
| # homes sold | 55 | 33 | +67% |
| New Listings: | 76 |
| Total Marked Contract: | 31 |
| Total Marked Contingent: | 33 |
| Total Pending (contract + contingent) | 64 |
The 21703 zip code shows 280 active listings, representing roughly a 4-5 month inventory. 58% of sales took place in 30 days or less. 53 of the 55 sales were under $300,000.
Overall, we’re seeing that inventory is shrinking month after month, sales are up, and prices are declining at a slower pace and we’re experiencing a balanced market. With the extention and expansion of the first-time home-buyers tax credit, we expect a robust market through next year.
*All Statistics gathered from MRIS, Metropolitan Regional Information System. Though deemed accurate, not guaranteed.
Compare to Frederick City Real Estate Market Report for September 2009.
County-wide statistics: Frederick County Real Estate Market Report for October 2009
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Pictures of Frederick