June’s real estate market reports are out.  The city of Frederick had another month of increased sales:

Frederick City real estate market statistics for June 2009, by zip code.

21701     2009     2008 % Change
Avg. Price   $243,500   $308,000      -21%
Median Price   $225,000  $260,000      -13%
DOM      136       147     -7%
# homes sold        41       41     +0%
New Listings:    66
Total Marked Contract:    34
Total Marked Contingent:    24
Total Pending (contract + contingent)    58

29% sold in under 30 days (those priced well and in great condition). 41% sold after 120 days on the market.  There are 324 active listings in the zip code, which represents roughly a 7 month inventory, or absorption rate.  (down from 9 months)

21702     2009     2008 % Change
Avg. Price   $242,800  $278,860     -13%
Median Price   $223,500  $247,000     -9.5%
DOM      102      127     -20%
# homes sold       46       30     +21%
New Listings:    64
Total Marked Contract:    37
Total Marked Contingent:    24
Total Pending (contract + contingent)    61

41% sold in under 30 days, meaning these homes were priced right and in great condition. 28% sold in over 120 days. There are currently 237 active listings in the zip code, representing roughly a 5 month inventory.  (remember, 6 months is a balanced market, favoring neither buyers nor sellers.) 

21703     2009     2008 % Change
Avg. Price   $216,000  $248,500     -13%
Median Price   $185,500   $232,500      -20%
DOM      67      110      -39%
# homes sold       26       44     -41%
New Listings:   75
Total Marked Contract:   31
Total Marked Contingent:   38
Total Pending (contract + contingent)   69

46% of homes sold in only 30 days.  It looks like sellers in 21703 are getting their prices right and their homes in great condition.  This zip code shows 287 active listings, representing roughly a 6 month inventory, balanced market.

*Overall, we’re seeing that inventory is shrinking, sales are up, and prices are declining at a slower pace and we’re experiencing a balanced market, even a slight seller’s market in zip code 21702.  

Compare to Frederick City Real Estate Market Report for May 2009

Couny-wide statistics:  Frederick County Real Estate Market Report for June 2009

                      Frederick Real Estate          Frederick Real Estate        
                                                                                                                                                                                                       
                                  The Highland Real Estate Group                      
        Chris & Karen Highland * Frederick County MD Real Estate Agents
                                Specializing in Frederick County Real Estate 
                                                 301-831-9947
                                            Real Estate Teams, LLC
                                               isell4u2@msn.com                
                                 
                                        Pictures of Frederick