City of Frederick Real Estate Market Reports for July 2011
Frederick Md Real Estate Market Reports provided by The Highland Group
Statistics for July 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 |
$240,000 |
$291,400 |
-18% |
| Median Price |
$229,900 |
$222,000 |
+4% |
| DaysOnMarket |
87 |
85 |
+2% |
| # homes sold |
52 |
44 |
+18% |
| New Listings: |
70 |
| Total Marked Contract: |
26 |
| Total Marked Contingent: |
19 |
| Total Pending (contract + contingent) |
45 |
The inventory is 246 active listings in the zip code, which
represents roughly a 5-6 month absorption rate. Sellers are getting an
average 92% of list price, compared to 92% one year ago. 13% of sales
last month were cash deals. (The normal number is 7-9%)
* * * * *
| 21702 |
2011 |
2010 |
% Change |
| Avg. Price |
$205,200 |
$242,700 |
-15 |
| Median Price |
$184,000 |
$225,000 |
-18% |
| DOM |
124 |
63 |
+97% |
| # homes sold |
37 |
49 |
-24% |
| New Listings: |
48 |
| Total Marked Contract: |
25 |
| Total Marked Contingent: |
32 |
| Total Pending (contract + contingent) |
57 |
There are currently 214 active listings in the zip code, representing
roughly a 4-5 month inventory. Sellers got 91% of list price on
average, compared to 90% last year. 27% of sales last month were cash
deals.
* * * * * *
| 21703 |
2011 |
2010 |
% Change |
| Avg. Price |
$179,600 |
$191,900 |
-6% |
| Median Price |
$16,000 |
$180,000 |
-9% |
| DOM |
76 |
67 |
+13% |
| # homes sold |
29 |
31 |
-6% |
| New Listings: |
47 |
| Total Marked Contract: |
20 |
| Total Marked Contingent: |
24 |
| Total Pending (contract + contingent) |
44 |
This zip code shows 162 active listings, representing roughly a 4-6
month inventory. Sellers got an average of 93% of list price this
month, compared to 93% this time last year. 10% 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. Prices are leveling off in
most of the county.
Compare to Frederick City 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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