Frederick Md Real Estate Market Reports for January 2011 provided by The Highland Group

Statistics have been published by MRIS*.
Here are the highlights for the three zip codes in the City of Frederick:

2170120112010% Change
Avg. Price$205,000$267,300     -23%
Median Price$187,500$262,700     -29%
DaysOnMarket     119
    128
      -7%
# homes sold     23
     30
      -23%
New Listings:55  
Total Marked Contract:23
Total Marked Contingent:17
Total Pending (contract + contingent)40

The inventory is 251 active listings in the zip code, which represents roughly a 6-7 month absorption rate.  Sellers are getting an average 90% of list price, compared to 93% one year ago.  22% of sales last month were cash deals, higher than the usual 5-7%.

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2170220112010% Change
Avg. Price$255,600$204,300    +6%
Median Price$207,500$191,500    +8%
DOM    43
    77
    -44%
# homes sold    20
     29
     -31%
New Listings:50  
Total Marked Contract:16
Total Marked Contingent:21
Total Pending (contract + contingent)37

There are currently 210 active listings in the zip code, representing roughly a 6-7 month inventory.   Sellers got 95% of list price on average, compared to 88% last year.  30% of sales last month were cash deals.

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2170320112010% Change
Avg. Price$190,600$178,700   +7%
Median Price$155,000$165,000   -6%
DaysOnMarket  77
  64
   +20%
# homes sold  25   31
   -19%
New Listings:32
Total Marked Contract:17
Total Marked Contingent:12
Total Pending (contract + contingent)29 

This zip code shows 175 active listings, representing roughly a 7-8 month inventory.  Sellers got an average of 90% of list price this month, compared to 89% this time last year.  24% of sales last month were cash deals.

Notes: The inventory has decreased, typical of the season.  In 21702 and 21703, the average and median sale price was up over last month as well as last year. 21701… not so much, a reversal of last month’s bump in sales and average price..

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Compare to City of Frederick Real Estate Market Report for December 2010

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To see homes on the market, use our free MLS search, or contact us for information about the Frederick Real Estate Market or the Montgomery County 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