Frederick County Real Estate Market Statistics: Febrary 2011

Monday, March 14, 2011

Frederick County Real Estate Market Report

for February 2011 provided by the Highland Group,

Statistics have been published by MRIS* for February 2011
Here are the highlights:

County-wide	2011	2010	% Change
Avg. Price	$230,900	$244,500	-6%
Median Price	$215,000	$218,500	-2%
DOM	110	87	+26%
# homes sold	155	148	+5%

New Listings:	302
Total Marked Contract:	129
Total Marked Contingent:	114
Total Pending (contract + contingent)	243

Note:  There are currently 1187 listings for sale in Frederick County.  That makes roughly a 4-5 month inventory.     23% of sales were cash deals, reflecting mostly investors. The inventory is trending lower, which is seasonally normal.
Other notable sales statistics: Sellers got 91% of list price on average, compared to 92% at this same time last year.
Notes: Average and Median prices are still slightly lower than last year, but only in the single digits. We’re seeing a leveling off of prices, and an increase in sales and pending sales.  Inventory keeps decreasing, making for an absorption rate of 4-5 months, slightly favoring sellers, but still fairly balanced.
Compare to January 2010 Frederick Real Estate Market Report

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