Frederick County Real Estate Market Report for June 2011

Tuesday, July 26, 2011

Frederick County Real Estate Market Report

for June 2011 provided by the Highland Group,

Statistics have been published by MRIS* for June 2011

Here are the highlights:

County-wide	2011	2010	% Change
Avg. Price	$247,200	$274,000	-10%
Median Price	$220,000	$240,000	-9%
DOM	101	82	+23%
# homes sold	258	283	-9%

New Listings:	367
Total Marked Contract:	146
Total Marked Contingent:	160
Total Pending (contract + contingent)	306

Note:  There are currently 1268listings for sale in Frederick County.  That makes roughly a 5-6 month inventory, a balanced market.      18% 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 homes on the market are short sales and foreclosures (distress sales).
*Other notable sales statistics: Sellers got 91% of list price on average, compared to 94% at this same time last year. We’re seeing the market stabilize.   The number of days from contract to close has remained close to 100 to 110 because of the number of short sales, which tend to take 90 days or more.
Compare to Frederick County Real Estate Market Report for May 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: karen@allthingsfrederick.com
Text Us: 301-401-5119