Frederick County, MD Home Sales Trend Indicator
This information is important if you are planning to purchase or sell a home in Frederick County. The following report is for the past month and the statistics are compared with the same month last year. During the month, there were 547 new listings and 397 new pending contracts. The sold dollar volume was up 37.22% from last year. The number of homes sold was 237 from 171 last year. The average days on the market was 108 days as compared to 158 days last year. The average sale price was 92.95% of the average list price. The median sold price was $225,000, down 5.74% from last year.
The Home Buyer Tax Credit now includes current home owners as well as first time buyers. This link provides the highlights of the program: http://www.federalhousingtaxcredit.com/glance.php Please let us know if you need to purchase by the April 30 contract deadline to qualify for the tax credit of $8,000 for first time home buyers or $6,500 for current home owners that are purchasing another primary residence.
Mortgage Financing: It is an ideal time to obtain funds to purchase a residence or investment property. Interest rates are still very low. Pre-approval for financing is the first step in the home purchase process. Buyers, including investors, need to have a lender letter in hand when they submit an offer on a property. Buyers should be prepared to fully document their income and obligations. Buyers are finding it more difficult to qualify for mortgage financing and the trend is to the use of FHA financing which has a minimum cash requirement of 3.5%. FHA Streamlined 203(k) financing can include home improvements to $35,000. The FHA loan limit for Frederick County is $729,750 and the maximum for FHA reverse mortgages is $625,500. Ask us for a referral if you do not have an existing relationship with a mortgage lender.
Metropolitan Regional Information Systems, Inc. Real Estate Trend Indicator - <$100K to >$5M Format
Frederick County, MD
From: 03/01/2010 to 03/31/2010 Statistics generated on: 04/07/2010
| |
Residential
Unit Sales
Number of Bedrooms |
Active Listings |
|
Time on Market |
| Price Class |
2
Or Less |
3 |
4
or More |
Condo
Coop |
Ground
Rent |
Residential
|
Condo
Coop |
Ground
Rent |
of Units Sold
(No. of Units) |
| Under $100,000 |
5 |
5 |
0 |
3 |
0 |
33 |
12 |
4 |
1 -30 Days |
86 |
| $100,000 - 149,999 |
5 |
22 |
2 |
2 |
0 |
104 |
43 |
0 |
31-60 Days |
38 |
| $150,000 - 199,999 |
3 |
29 |
6 |
6 |
0 |
174 |
36 |
0 |
61 - 90 Days |
25 |
| $200,000 - 249,999 |
5 |
32 |
13 |
2 |
0 |
231 |
13 |
0 |
91-120 Days |
18 |
| $250,000 - 299,999 |
1 |
10 |
15 |
0 |
0 |
202 |
15 |
0 |
Over 120 Days |
70 |
| $300,000 - 349,999 |
2 |
2 |
14 |
0 |
0 |
152 |
1 |
0 |
Total |
237 |
| $350,000 - 399,999 |
0 |
5 |
13 |
0 |
0 |
140 |
1 |
0 |
|
|
| $400,000 - 449,999 |
0 |
1 |
12 |
0 |
0 |
84 |
4 |
0 |
Type of Financing
of Units Sold
(No. of Units) |
| $450,000 - 499,999 |
0 |
0 |
8 |
0 |
0 |
84 |
1 |
0 |
| $500,000 - 599,999 |
0 |
0 |
10 |
0 |
0 |
81 |
2 |
0 |
Conventional |
71 |
| $600,000 - 699,999 |
0 |
1 |
1 |
0 |
0 |
48 |
0 |
0 |
FHA |
107 |
| $700,000 - 799,999 |
0 |
0 |
1 |
0 |
0 |
20 |
2 |
0 |
VA |
20 |
| $800,000 - 899,999 |
0 |
0 |
0 |
0 |
0 |
13 |
1 |
0 |
Assumption |
9 |
| $900,000 - 999,999 |
0 |
0 |
0 |
0 |
0 |
14 |
0 |
0 |
Cash |
28 |
| $1,000,000 - 2,499,999 |
0 |
0 |
1 |
0 |
0 |
18 |
0 |
0 |
Owner Finance |
0 |
| $2,500,000 - 4,999,999 |
0 |
0 |
0 |
0 |
0 |
2 |
0 |
0 |
All Other |
2 |
| $5,000,000 & Over |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Unreported |
0 |
| Totals |
21 |
107 |
96 |
13 |
0 |
1400 |
131 |
4 |
Total |
237 |
| Grand Totals |
237 |
1535 |
|
|
| |
2010 |
2009 |
% Change |
| Total Sold Dollar Volume: |
$ 61,531,533 |
$ 44,842,126 |
37.22 % |
| Average Sold Price: |
$ 259,627 |
$ 262,235 |
- 0.99 % |
| Median Sold Price: |
$ 225,000 |
$ 238,700 |
- 5.74 % |
| Total Units Sold: |
237 |
171 |
38.60 % |
| Average Days on Market: |
108 |
158 |
- 31.65 % |
| Average List Price for Solds: |
$ 279,304 |
$ 302,161 |
- 7.56 % |
Avg Sale Price as a
percentage of Avg List Price: |
92.95 % |
86.79 % |
|
|
| Total Number of NEW listings |
|
| taken for the month: |
547 |
Total Number of Properties
|
|
| marked Contract for the month: |
197 |
| Total Number of Properties |
|
| marked Contingent for the month: |
200 |
Total Number of NEW pendings
|
|
| (CONTRACTS + CONTINGENTS): |
397 |
|
Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2010 - Information deemed reliable, but is not guaranteed.
Please contact us with your questions on the residential real estate market. Your referrals of friends and family will always be appreciated.
We represent home buyers and sellers as their exclusive agents in the Maryland suburbs of Washington DC and nearby counties. Your Real Estate Professionals In Maryland.
Roy Kelley
Roy Kelley & Associates
Associate Broker, RE/MAX Realty Group
Client Assistance: 301-670-8996
Recipient of the RE/MAX International Lifetime Achievement Award - 2008
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