Frederick Md Real Estate Market Reports provided by The Highland Group
Statistics for November 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 | $216,300 | $213,000 | +2% |
| Median Price | $210,000 | $207,000 | +1% |
| DaysOnMarket | 119 | 91 | +31% |
| # homes sold | 31 | 29 | +7% |
| New Listings: | 82 |
| Total Marked Contract: | 18 |
| Total Marked Contingent: | 29 |
| Total Pending (contract + contingent) | 47 |
The inventory is 197 active listings in the zip code, continuing to decrease, which represents roughly a 5-6 month inventory. Sellers are getting an average 85% of list price, compared to 91% one year ago. 16% of sales last month were cash deals. (The normal number is 7-9%)
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| 21702 | 2011 | 2010 | % Change |
| Avg. Price | $230,900 | $210,900 | +9% |
| Median Price | $208,500 | $199,000 | +5% |
| DOM | 155 | 95 | +63% |
| # homes sold | 29 | 29 | +0% |
| New Listings: | 49 |
| Total Marked Contract: | 12 |
| Total Marked Contingent: | 22 |
| Total Pending (contract + contingent) | 34 |
There are currently 181 active listings in the zip code, representing roughly a 5-6 month inventory. Sellers got 88% of list price on average, compared to 95% last year. 14% of sales last month were cash deals.
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| 21703 | 2011 | 2010 | % Change |
| Avg. Price | $189,700 | $172,300 | +10% |
| Median Price | $166,250 | $182,900 | -9% |
| DOM | 78 | 90 | -13% |
| # homes sold | 36 | 15 | +140% |
| New Listings: | 32 |
| Total Marked Contract: | 21 |
| Total Marked Contingent: | 26 |
| Total Pending (contract + contingent) | 47 |
This zip code shows 119 active listings, representing roughly a 4 month inventory. Sellers got an average of 989% of list price this month, compared to 91% this time last year. 17% of sales were cash deals.
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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 monthly sales. Foreclosures and short sales 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 October 2011
Coming – County-wide statistics: Frederick County Real Estate Market Report for November 2011
*MRIS – Mid-Atlantic Regional Information System – These statistics are not guaranteed but are considered accurate.
Chris & Karen Highland * 301-831-9947
Turning Point Real Estate – 301-831-8232
email us: karen@allthingsfrederick.com
Text Us: 301-401-5119
