Frederick County Real Estate Market Statistics: March 2011

Monday, April 18, 2011

Frederick County Real Estate Sales Statistics by The Highland Group - Real Estate Teams


Statistics have been published by MRIS* for March 2011

Here are the highlights:

County-wide	2011	2010	% Change
Avg. Price	$238,300	$258,900	+4%
Median Price	$241,200	$225,000	+7%
DOM	135	107	+26%
# homes sold	202	251	-20%

New Listings:	432
Total Marked Contract:	186
Total Marked Contingent:	170
Total Pending (contract + contingent)	356

Note: There are currently 1194 listings for sale in Frederick County. That makes roughly a 4-5 month inventory. 17% of sales were cash deals, reflecting mostly investors. The inventory is still shrinking, causing a lower absorption rate. 25 to 30% of sales continue to be short sales and foreclosures. Almost 20% of the inventory is short sales and foreclosures.

*Other notable sales statistics: Sellers got 92% of list price on average, compared to 94% at this same time last year. We’re seeing the market stabilize. The number of contracts signed is significantly higher than we’ve seen in a while. This is a good sign for the spring market.

Compare to 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 – Real Estate Teams
Chris & Karen Highland *    301-831-9947
Real Estate Teams, LLC  301-695-3020
email us: karen@allthingsfrederick.com
Text Us: 301-401-5119