Frederick County Real Estate Statistics December 2011

Frederick County Real Estate Market Report

for December 2011 provided by the Highland Group,

Statistics have been published by MRIS*

Here are the highlights:

County-wide	2011	2010	% Change
Avg. Price	$230,300	$253,100	-9%
Median Price	$198,000	$225,400	-12%
DOM	119	93	+28%
# homes sold	172	201	-14%

New Listings:	192
Total Marked Contract:	81
Total Marked Contingent:	112
Total Pending (contract + contingent)	193

Notes: There are currently 954 homes listed for sale in Frederick County. (We can’t remember the inventory ever being this low.) This makes roughly a 5-6 month inventory, a balanced market. 22% of sales were cash deals, reflecting a lot of investors buying the many bargains on the market. There are fewer foreclosures on the market at this time, less than 40, but we’ve written about the Shadow Inventory, and expect more distressed homes coming on the market this year. A large number, about 20% of homes listed right now are Short Sales.

*Other notable sales statistics: Sellers got 91% of list price on average, compared to 93% at this same time last year.

A Historic Look:

This chart shows the high number of Pending Sales throughout 2011, compared to the actual number of sales that closed.

*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