City of Frederick Real Estate Market Statistics for October 2011
Frederick Md Real Estate Market Reports provided by The Highland Group
Statistics for October 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 |
$228,000 |
$308,500 |
-26% |
| Median Price |
$215,000 |
$262,500 |
-18% |
| DaysOnMarket |
70 |
72 |
-3% |
| # homes sold |
36 |
32 |
+12% |
| New Listings: |
41 |
| Total Marked Contract: |
21 |
| Total Marked Contingent: |
25 |
| Total Pending (contract + contingent) |
46 |
The inventory is 216 active listings in the zip code, continuing to
decrease, which represents roughly a 5-6 month inventory. Sellers are
getting an average 94% of list price, compared to 91% one year ago. 22%
of sales last month were cash deals. (The normal number is 7-9%)
* * * * *
| 21702 |
2011 |
2010 |
% Change |
| Avg. Price |
$220,200 |
$234,200 |
-6% |
| Median Price |
$187,500 |
$208,900 |
-10% |
| DOM |
145 |
74 |
+96% |
| # homes sold |
36 |
34 |
+6% |
| New Listings: |
32 |
| Total Marked Contract: |
16 |
| Total Marked Contingent: |
20 |
| Total Pending (contract + contingent) |
36 |
There are currently 168 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. 20% of sales last month were cash
deals.
* * * * * *
| 21703 |
2011 |
2010 |
% Change |
| Avg. Price |
$229,200 |
$197,700 |
+16% |
| Median Price |
$194,000 |
$175,000 |
+11% |
| DOM |
98 |
66 |
+48% |
| # homes sold |
29 |
23 |
+26% |
| New Listings: |
38 |
| Total Marked Contract: |
19 |
| Total Marked Contingent: |
24 |
| Total Pending (contract + contingent) |
43 |
This zip code shows 141 active listings, representing roughly a 4-5
month inventory. Sellers got an average of 92% of list price this
month, compared to 92% this time last year. 14% 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.
We see a decline in average and median sales prices from last year, but
month over month we see little movement.
Compare to Frederick City Real Estate Market Report for September 2011
Also see – County-wide statistics: Frederick County Real Estate Market Report for October 2011
*MRIS – Mid-Atlantic Regional Information System – These statistics are not guaranteed but are considered accurate.
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