The Frederick County, Maryland residential real estate market is slower this year. Real estate listings are now on the market an average of 155 days before selling. Sellers should be prepared to allow more time for marketing. It does take more time and and it is more expensive for agents to handle the marketing of their listings. Buyers are looking for bargains in this soft market. The average sales price is 89.34% of the average list price. Sellers should expect offers that are less than the asking price. The large inventory of lender owned properties is also competing for purchasers. Lender owners are highly motivated and the REO properties are selling at discounted prices.
Metropolitan Regional Information Systems, Inc. Real Estate Trend Indicator - <$100K to >$5M Format
Frederick County, MD
Roy Kelley, Associate Broker, RE/MAX Realty Group
Client Assistance: 301-670-8996
Email: roykelley@mris.com
Home Search Website: www.roykelley.com
From: 04/01/2008 to 04/30/2008 Statistics generated on: 05/07/2008
| |
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 |
0 |
0 |
0 |
0 |
0 |
4 |
0 |
0 |
1 -30 Days |
34 |
| $100,000 - 149,999 |
4 |
1 |
0 |
1 |
0 |
19 |
13 |
0 |
31-60 Days |
22 |
| $150,000 - 199,999 |
2 |
8 |
1 |
5 |
0 |
126 |
53 |
0 |
61 - 90 Days |
19 |
| $200,000 - 249,999 |
2 |
29 |
9 |
4 |
0 |
276 |
66 |
0 |
91-120 Days |
15 |
| $250,000 - 299,999 |
0 |
17 |
14 |
1 |
0 |
359 |
22 |
1 |
Over 120 Days |
95 |
| $300,000 - 349,999 |
1 |
11 |
16 |
0 |
0 |
229 |
9 |
0 |
Total |
185 |
| $350,000 - 399,999 |
0 |
5 |
14 |
0 |
0 |
255 |
4 |
1 |
|
|
| $400,000 - 449,999 |
0 |
0 |
9 |
0 |
0 |
143 |
1 |
0 |
Type of Financing
of Units Sold
(No. of Units) |
| $450,000 - 499,999 |
0 |
2 |
13 |
0 |
0 |
168 |
2 |
0 |
| $500,000 - 599,999 |
0 |
0 |
8 |
0 |
0 |
187 |
5 |
0 |
Conventional |
109 |
| $600,000 - 699,999 |
0 |
1 |
3 |
0 |
0 |
113 |
3 |
0 |
FHA |
41 |
| $700,000 - 799,999 |
0 |
0 |
2 |
0 |
0 |
49 |
0 |
0 |
VA |
10 |
| $800,000 - 899,999 |
0 |
0 |
0 |
0 |
0 |
20 |
1 |
0 |
Assumption |
9 |
| $900,000 - 999,999 |
0 |
0 |
1 |
0 |
0 |
29 |
1 |
0 |
Cash |
9 |
| $1,000,000 - 2,499,999 |
0 |
1 |
0 |
0 |
0 |
35 |
0 |
0 |
Owner Finance |
1 |
| $2,500,000 - 4,999,999 |
0 |
0 |
0 |
0 |
0 |
4 |
0 |
0 |
All Other |
6 |
| $5,000,000 & Over |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Unreported |
0 |
| Totals |
9 |
75 |
90 |
11 |
0 |
2016 |
180 |
2 |
Total |
185 |
| Grand Totals |
185 |
2198 |
|
|
| |
2008 |
2007 |
% Change |
| Total Sold Dollar Volume: |
$ 59,692,119 |
$ 86,376,167 |
- 30.89 % |
| Average Sold Price: |
$ 322,660 |
$ 375,549 |
- 14.08 % |
| Median Sold Price: |
$ 289,900 |
$ 309,950 |
- 6.47 % |
| Total Units Sold: |
185 |
230 |
- 19.57 % |
| Average Days on Market: |
155 |
131 |
18.32 % |
| Average List Price for Solds: |
$ 361,153 |
$ 400,709 |
- 9.87 % |
Avg Sale Price as a
percentage of Avg List Price: |
89.34 % |
93.72 % |
|
|
| Total Number of NEW listings |
|
| taken for the month: |
517 |
Total Number of Properties |
|
| marked Contract for the month: |
150 |
| Total Number of Properties |
|
| marked Contingent for the month: |
85 |
Total Number of NEW pendings |
|
| (CONTRACTS + CONTINGENTS): |
235 |
|
Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2008 - Information deemed reliable, but is not guaranteed
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