City of Frederick Real Estate Market Statistics for February 2011

Tuesday, March 15, 2011

Frederick Md Real Estate Market Reports provided by The Highland Group –
Statistics for February 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	$209,000	$265,100	-21%
Median Price	$185,000	$242,500	-24%
DaysOnMarket	85	61	+39%
# homes sold	31	34	-9%

New Listings:	64
Total Marked Contract:	22
Total Marked Contingent:	22
Total Pending (contract + contingent)	44

The inventory is 230 active listings in the zip code, which represents roughly a 5-6 month absorption rate.  Sellers are getting an average 92% of list price, compared to 94% one year ago.  23% of sales last month were cash deals.
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21702	2011	2010	% Change
Avg. Price	$207,200	$196,500	+5%
Median Price	$180,000	$189,000	-5%
DOM	99	89	+11%
# homes sold	36	27	+33%

New Listings:	52
Total Marked Contract:	26
Total Marked Contingent:	18
Total Pending (contract + contingent)	44

There are currently 198 active listings in the zip code, representing roughly a 5-6 month inventory.   Sellers got 90% of list price on average, compared to 89% last year.  36% of sales last month were cash deals.
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21703	2011	2010	% Change
Avg. Price	$181,300	$192,100	-6%
Median Price	$160,500	$174,000	-8%
DOM	103	72	+43%
# homes sold	20	31	-35%

New Listings:	47
Total Marked Contract:	16
Total Marked Contingent:	26
Total Pending (contract + contingent)	42

This zip code shows 166 active listings, representing roughly a 4-6 month inventory.  Sellers got an average of 91% of list price this month, compared to 93% this time last year.  23% of sales were cash deals.
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Notes: The inventory has decreased, typical of the season.  Pending numbers are up. Cash buyers are a significant part of the sales.
Compare to Frederick City Real Estate Market Report for January 2011
County-wide statistics:  Frederick County Real Estate Market Report for February 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: isell4u2@msn.com
Text Us: 301-401-5119