City of Frederick Real Estate Market Reports for June 2011
Frederick Md Real Estate Market Reports provided by The Highland Group
Statistics for June 2011 have been published by MRIS*.
Here are the highlights for the three zip codes in the City of Frederick:
| 21701 |
2011 |
2010 |
% Change |
| Avg. Price |
$205,800 |
$254,800 |
-19% |
| Median Price |
$182,500 |
$235,000 |
-22% |
| DaysOnMarket |
114 |
87 |
+31% |
| # homes sold |
49 |
61 |
-20% |
| New Listings: |
85 |
| Total Marked Contract: |
24 |
| Total Marked Contingent: |
36 |
| Total Pending (contract + contingent) |
60 |
The inventory is 244 active listings in the zip code, which
represents roughly a 4-5 month absorption rate. Sellers are getting an
average 89% of list price, compared to 92% one year ago. 20% of sales
last month were cash deals. (The normal number is 7-9%)
* * * * *
| 21702 |
2011 |
2010 |
% Change |
| Avg. Price |
$204,300 |
$209,000 |
-2% |
| Median Price |
$181,000 |
$181,000 |
0% |
| DOM |
100 |
66 |
+52% |
| # homes sold |
44 |
43 |
+2% |
| New Listings: |
62 |
| Total Marked Contract: |
18 |
| Total Marked Contingent: |
33 |
| Total Pending (contract + contingent) |
51 |
There are currently 230 active listings in the zip code, representing
roughly a 5-6 month inventory. Sellers got 91% of list price on
average, compared to 95% last year. 18% of sales last month were cash
deals.
* * * * * *
| 21703 |
2011 |
2010 |
% Change |
| Avg. Price |
$187,500 |
$204,600 |
-8% |
| Median Price |
$170,000 |
$167,250 |
+2% |
| DOM |
74 |
96 |
-24% |
| # homes sold |
34 |
45 |
-24% |
| New Listings: |
54 |
| Total Marked Contract: |
21 |
| Total Marked Contingent: |
26 |
| Total Pending (contract + contingent) |
47 |
This zip code shows 162 active listings, representing roughly a 4-5
month inventory. Sellers got an average of 91% of list price this
month, compared to 93% this time last year. 29% of sales were cash
deals.
Notes: The inventory has been steadily low,
attributing to a low absorption rate. Cash buyers are a still a
significant part of the sales. Foreclosures and short sales are making
up about 20 to 25% of the monthly sales.
Compare to Frederick City Real Estate Market Report for May 2011
Coming – County-wide statistics: Frederick County Real Estate Market Report for June 2011
*MRIS – Mid-Atlantic Regional Information System – These statistics are not guaranteed but are considered accurate.
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