City of Frederick Real Estate Market Statistics for December 2011
City of Frederick Md Real Estate Statistics
provided by The Highland Group
Statistics for December 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 |
$225,300 |
$252,900 |
-11% |
| Median Price |
$208,000 |
$225,000 |
-8% |
| DaysOnMarket |
129 |
126 |
+2% |
| # homes sold |
37 |
47 |
-21% |
| New Listings: |
42 |
| Total Marked Contract: |
21 |
| Total Marked Contingent: |
20 |
| Total New Pending (contract + contingent) |
41 |
The inventory is 174 active listings in the zip code, continuing to
decrease, which represents roughly a 5-6 month inventory. Sellers are
getting an average 92% of list price, compared to 89% one year ago. 21%
of sales last month were cash deals. (The normal number is 7-9%)
* * * * *
| 21702 |
2011 |
2010 |
% Change |
| Avg. Price |
$187,100 |
$231,400 |
-19% |
| Median Price |
$141,800 |
$184,000 |
-23% |
| DOM |
143 |
75 |
+91% |
| # homes sold |
40 |
36 |
+11% |
| New Listings: |
25 |
| Total Marked Contract: |
13 |
| Total Marked Contingent: |
26 |
| Total Pending (contract + contingent) |
39 |
There are currently 161 active listings in the zip code, representing
roughly a 5-6 month inventory. Sellers got 89% of list price on
average, compared to 91% last year. 27% of sales last month were cash
deals. Lots of bargains were snapped up this month.
* * * * * *
| 21703 |
2011 |
2010 |
% Change |
| Avg. Price |
$194,000 |
$163,600 |
+19% |
| Median Price |
$187,000 |
$150,500 |
+24% |
| DOM |
119 |
63 |
+89% |
| # homes sold |
29 |
30 |
-3% |
| New Listings: |
27 |
| Total Marked Contract: |
9 |
| Total Marked Contingent: |
16 |
| Total Pending (contract + contingent) |
25 |
This zip code shows 115 active listings, representing roughly a 4-5
month inventory. Sellers got an average of 91% of list price this
month, compared to 94% this time last year. 21% of sales were cash
deals.
Notes: The inventory has been declining
steadily, creating a lower absorption rate. The inventory is extremely
low right now, under 1000 county-wide. 20% of homes on the market are
short sales. (Absorption rate = how long it will take to sell the homes
currently on the market)
Cash buyers were a significant part of the
monthly sales in December, snatching up many bargains. Foreclosures are
declining for the time being, but we expect more to enter the Frederick
real estate market during Spring and Summer 2012. 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 City of Frederick Real Estate Market Report for November 2011
Coming – County-wide statistics: Frederick County Real Estate Market Report for December 2011
*MRIS – Mid-Atlantic Regional Information System – These statistics are not guaranteed but are considered accurate.
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