Frederick County MD Real Estate Market Report for October 2009
The real estate market reports are out from MRIS* for Frederick County sales in October. Here are the highlights:
2009 2008
Average Sold Price: 256,565 276,620 -7%
Median Sold Price: 233,000 234,500 -1%
Total Sold: 225 170 +32%
Average Days on Market: 121 157 -23%
Total Number of New Listings taken for the Month: 375
Total Number of properties marked Contract: 150
Total Number of properties marked Contingent: 115
Total of New Pendings (Contracts + Contingents): 265
We're continuing to see of the inventory of homes for sale in Frederick County decrease month after month. Prices are stabilizing, we've seen multiple offers on sales below $200,000, which make up about 40% of the market. 72% of the sales in Frederick County last month were under $300K, first-time buyer range. With the current inventory around 1561 (about 1300 residential) we have an absorption rate of about 4 -5 months, a balanced market.
With the extension and expansion of the First-time Homebuyer's Tax Credit, we expect to see a very healthy market continuing into next year.
Compare to Frederick County Real Estate Market Report for September2009
See Montgomery County Real Estate Market Report for October 2009
Coming: September Market Reports for:
Urbana Real Estate
Walkersville Real Estate
Middletown Real Estate
New Market Real Estate
Mount Airy Real Estate
Frederick City Real Estate
Thurmont Real Estate
Smaller Frederick County Communities - Real estate market reports July 2009
Absorption Rates
To see homes on the market, use our free MLS search, or contact us for information about the Frederick Real Estate Market.
The Highland Real Estate Group
Chris & Karen Highland * Frederick County MD Real Estate Agents
301-831-9947 Real Estate Teams, LLC
isell4u2@msn.com
* Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data