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Frederick County Md Real Estate Market Report for June 2011

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Frederick County Real Estate Market Report

for May 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 – 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