Frederick Real Estate Market Statistics - July 2010

Monday, August 16, 2010

Highlights of Frederick County Real Estate Market Reports, published from
MRIS* for the month of July 2010.

County-wide                   2010                  2009                      % Change

Avg. Price                   $282,000            $261,900                     +8%

Median Price               $245,000            $234,000                     +5%

DaysOnMarket (DOM)       90                    116                        -22%

# homes sold                       206                   261                        -21%

New Listings:                                                          426

Total Marked Contract:                                          161

Total Marked Contingent:                                       107

Total Pending (contract + contingent)                      268



New Construction:                   172 Listings,         13 sold in June.



Notes: There are currently 1734 properties listed for sale in Frederick County, a slight increase over last month. That makes roughly a 7-8 month inventory. The average and median sales price has increased over last month, as well as over last year at this time. The number of pending contracts has also increased over last month.

Other notable sales statistics: 65% of the sales were under $300,000, reflecting first-time buyers and investors getting deals in the present market. Sellers are getting 92% of their list price, on average. Up slightly from 91% in last year’s market, this reflects a stabilization. 15% of the sales in June were cash deals, higher than the usual 5 – 7%, reflecting more investor purchases.


Of Note: Distressed sales are still over 30% of the Frederick Market. We expect a steady trickle of short sales and foreclosures to grace the market for the next 2 years.



Compare to Frederick County Real Estate Market Report for June 2010


*All statistics are gathered from the MRIS, Metropolitan Regional Information System, and while accurate, are not guaranteed.



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The Highland Group 

Chris &; Karen Highland * 301-831-9947

Associates at Turning Point Real Estate

email us: isell4u2@msn.com

Text Us: 301-401-5119

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