Frederick County Real Estate Market Statistics: April 2011

Sunday, June 12, 2011

Frederick County Real Estate Market Report

for May 2011 provided by the Highland Group,

Statistics have been published by MRIS* for May 2011

Here are the highlights:

County-wide	2011	2010	% Change
Avg. Price	$244,250	$262,700	-7%
Median Price	$218,000	$235,900	-8%
DOM	107	78	+37%
# homes sold	235	293	-20%

New Listings:	398
Total Marked Contract:	156
Total Marked Contingent:	159
Total Pending (contract + contingent)	315

Note:  There are currently 1270 listings for sale in Frederick County.  That makes roughly a 5-6 month inventory, a balanced market.      17% of sales were cash deals, reflecting mostly investors.   25 to 30% of monthly sales continue to be short sales and foreclosures.  Roughly 20 – 25% of the inventory is short sales and foreclosures.
*Other notable sales statistics: Sellers got 90% of list price on average, compared to 95% at this same time last year. We’re seeing the market stabilize.   The number of days from contract to close has increased because of the number of short sales, which tend to take 90 days or more.
Compare to Frederick County Real Estate Market Report for April 2011
*MRIS – Mid-Atlantic Regional Information System – These statistics are not guaranteed but are considered accurate.

___________________________________________________________

The Highland Group
Chris & Karen Highland *    301-831-9947
Turning Point Real Estate
e mail us: isell4u2@msn.coom
Text Us: 301-401-5119