City of Frederick Real Estate Market Statistics for September 2011
Frederick Md Real Estate Market Reports provided by The Highland Group
Statistics for September 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 |
$229,200 |
$217,000 |
+10% |
| Median Price |
$233,500 |
$190,000 |
+23% |
| DaysOnMarket |
109 |
85 |
+28% |
| # homes sold |
40 |
38 |
+5% |
| New Listings: |
59 |
| Total Marked Contract: |
17 |
| Total Marked Contingent: |
26 |
| Total Pending (contract + contingent) |
43 |
The inventory is 242 active listings in the zip code, which
represents roughly a 6 month absorption rate. Sellers are getting an
average 87% of list price, compared to 91% one year ago. 18% of sales
last month were cash deals. (The normal number is 7-9%)
* * * * *
| 21702 |
2011 |
2010 |
% Change |
| Avg. Price |
$197,000 |
$190,400 |
+3% |
| Median Price |
$165,500 |
$161,500 |
+2% |
| DOM |
87 |
47 |
+85% |
| # homes sold |
30 |
28 |
+7% |
| New Listings: |
42 |
| Total Marked Contract: |
16 |
| Total Marked Contingent: |
26 |
| Total Pending (contract + contingent) |
42 |
There are currently 187 active listings in the zip code, representing
roughly a 5-6 month inventory. Sellers got 89% of list price on
average, compared to 92% last year. 23% of sales last month were cash
deals.
* * * * * *
| 21703 |
2011 |
2010 |
% Change |
| Avg. Price |
$198,900 |
$221,700 |
-10% |
| Median Price |
$166,000 |
$200,000 |
-17% |
| DOM |
76 |
67 |
+13% |
| # homes sold |
33 |
101 |
+23% |
| New Listings: |
46 |
| Total Marked Contract: |
12 |
| Total Marked Contingent: |
28 |
| Total Pending (contract + contingent) |
40 |
This zip code shows 154 active listings, representing roughly a 4-5
month inventory. Sellers got an average of 90% of list price this
month, compared to 92% this time last year. 12% of sales were cash
deals.
Notes: The inventory has been declining
steadily, creating a lower absorption rate. (Absorption rate = how long
it will take to sell the homes currently on the market) 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 August 2011
Coming – County-wide statistics: Frederick County Real Estate Market Report for September 2011
*MRIS – Mid-Atlantic Regional Information System – These statistics are not guaranteed but are considered accurate.
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