City of Frederick Real Estate Market Reports for August 2011
Frederick Md Real Estate Market Reports provided by The Highland Group
Statistics for August 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. A large
number, 25% of sales last month were cash deals. (The normal number is
7-9%)
* * * * *
| 21702 |
2011 |
2010 |
% Change |
| Avg. Price |
$233,500 |
$237,600 |
-2% |
| Median Price |
$213,000 |
$222,450 |
-4% |
| DOM |
83 |
99 |
-16% |
| # homes sold |
44 |
46 |
-4% |
| New Listings: |
64 |
| Total Marked Contract: |
23 |
| Total Marked Contingent: |
25 |
| Total Pending (contract + contingent) |
48 |
There are currently 243 active listings in the zip code, representing
roughly a 5 month inventory. Sellers got 88% of list price on
average, compared to 94% last year. 27% of sales last month were cash
deals.
* * * * * *
| 21703 |
2011 |
2010 |
% Change |
| Avg. Price |
$200,300 |
$193,800 |
-3% |
| Median Price |
$194,200 |
$178,250 |
+9% |
| DOM |
82 |
72 |
+14% |
| # homes sold |
36 |
36 |
0% |
| New Listings: |
46 |
| Total Marked Contract: |
20 |
| Total Marked Contingent: |
24 |
| Total Pending (contract + contingent) |
44 |
This zip code shows 160 active
listings, representing roughly a 4 month inventory. Sellers got an
average of 96% of list price this month, compared to 93% this time last
year. 19% 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 July 2011
County-wide statistics: Frederick County Real Estate Market Report for August 2011
*MRIS – Mid-Atlantic Regional Information System – These statistics are not guaranteed but are considered accurate.
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