Frederick County MD Real Estate Statistics ~ October 2011

Wednesday, November 16, 2011

Frederick County Real Estate Market Report

for October 2011 provided by the Highland Group,

Statistics have been published by MRIS*

Here are the highlights:

County-wide	2011	2010	%    Change
Avg. Price	$265,700	$283,600	-6%
Median Price	$252,500	$250,000	+1%
DOM	106	86	+23%
# homes sold	183	176	+4%

New Listings:	271
Total Marked Contract:	107
Total Marked Contingent:	130
Total Pending (contract + contingent)	237

Notes:  There are currently 1197 listings for sale in Frederick County.  That makes roughly a 5-6 month inventory, a balanced market.      15% of sales were cash deals, reflecting mostly investors.   The inventory is shrinking, the number of sales is steady, causing a more stable market than we’ve seen in the past, in spite of the number of distressed sales on the market.
*Other notable sales statistics: Sellers got 91% of list price on average, compared to 92% at this same time last year. We’re seeing the market stabilize.

From a historical view, we're seeing an end of the year-over-year decline in average and median sold prices in Frederick County.

This graph shows the comparison between the number of homes on the market, inventory, and the number of homes sold each month.  We're seeing a balanced market, around 6 months of inventory.

*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