City of Frederick Real Estate Statistics December 2011

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%)
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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.

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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.

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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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The Highland Group
Chris & Karen Highland * 301-831-9947
Turning Point Real Estate – 301-831-8232
email us: karen@allthingsfrederick.com
Text Us: 301-401-5119