Frederick County Real Estate Snapshot for January 2012
The Frederick real estate market was quite slow in January. Here is a snapshot of real estate sales in Frederick County for January:
| County-wide | 2012 | 2011 | % Change |
| Avg. Price | $227,600 | $249,700 | -9% ↓ |
| Month-Over-Month | $227,600 | $230,300 (Dec) | -1% ↓ |
| Median Price | $196,500 | $219,500 | -10% ↓↓ |
| M-Over-Month | $196,500 | $198,500 (Dec) | -1% ↓ |
| DOM | 135 | 102 | +32% ↑↑ |
| # homes sold | 120 | 138 | -13% ↓↓ |
| M-Over-Month | 120 | 172 (Dec) | -30% ↓↓ |
| Total Listings | 954 | 1232 | -23% ↓↓ |
| Inventory | 5-6 mos. | 8-9 mos. | ↓ |
| New Pending Sales | 248 | 209 | ↑ +18% |
| Sale Price as % of List Price |
87% | 91% | ↓ |
What’s Notable: Short Sales Are the Still the Story… 40%.
- Average and Median Prices took a dip within the last 2 months. This combined with the low number of homes sold and the number of cash sales… is reflecting the high number of short sales.
- The inventory is at 861 homes on the market. We have 29% fewer homes on the market than last year at this time (1208), and the supply keeps decreasing month over month.
- Of the 120 homes that sold last month, 48 were short sales, that is 40%. Of the homes that sold, 14 were Foreclosures, or 12%.
- The number of pending sales has increased significantly this month. (one note about pending numbers: more pending sales are falling apart these days because of short sales and appraisal issues, and the time between contract to close has increased.)
- 20% of sales last month were cash deals. The normal amount has historically been 7 – 9%. This number represents a lot of investor purchases, which have been high for the entire year.
With today’s historically low interest rates we’re seeing the most affordable real estate market in decades. The present market is a great opportunity to buy Frederick Real Estate.
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| The Highland Group Turning Point Real Estate 8923 Fingerboard Road Frederick, Md 21704 301-831-9947 TEXT US: 301-401-5119 |
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