Frederick City MD Real Estate Market Report for November 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. 88% of the homes sold were under $300,000. 25 homes sold in under 30 days.
| 21702 | 2009 | 2008 | % Change |
| Avg. Price | $227,798 | $253,894 | -10% |
| Median Price | $208,200 | $232,450 | -10% |
| DOM | 100 | 113 | -12% |
| # homes sold | 40 | 34 | +18% |
| New Listings: | 51 |
| Total Marked Contract: | 21 |
| Total Marked Contingent: | 16 |
| Total Pending (contract + contingent) | 37 |
There are currently 232 active listings in the zip code, representing roughly a 5-6 month inventory. 50% of sales in October took place in under 30 days. 82% of homes sold were under $300,000, first-time buyer range.
| 21703 | 2009 | 2008 | % Change |
| Avg. Price | $201,795 | $223,533 | -10% |
| Median Price | $186,900 | $192,900 | -3% |
| DOM | 70 | 110 | -36% |
| # homes sold | 47 | 21 | +124% |
| New Listings: | 43 |
| Total Marked Contract: | 29 |
| Total Marked Contingent: | 30 |
| Total Pending (contract + contingent) | 59 |
The 21703 zip code shows 251 active listings, representing roughly a 5-6 month inventory. 53% of sales took place in 30 days or less. 89% of the 55 sales were under $300,000.
Overall, we’re seeing that inventory is shrinking month after month, sales are up, more than doubled in 21703, and prices are declining at a slower pace, now under 10% declines from last year. 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 October 2009.
County-wide statistics: Frederick County Real Estate Market Report for November 2009
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