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

21701     2009     2008 % Change
Avg. Price   $272,105   $258,611       +5%
Median Price   $207,500  $226,750       -8%
DOM      121       136     -11%
# homes sold        38       30     +27%
New Listings:    78
Total Marked Contract:    29
Total Marked Contingent:    18
Total Pending (contract + contingent)    47

66% of all sales were under $300,000, first-time buyer range.  The inventory is down to 280 active listings in the zip code, which represents roughly a 6-7 month absorption rate.  1/2 of the 38 sales took less than 30 days.

21702     2009     2008 % Change
Avg. Price   $230,824  $247,300     -7%
Median Price   $202,500  $230,000     -12%
DOM      76      94     +19%
# homes sold       36      41     -12%
New Listings:    66
Total Marked Contract:    28
Total Marked Contingent:    21
Total Pending (contract + contingent)    49

There are currently 253 active listings in the zip code, representing roughly a 5-6 month inventory.  75% of the  sales were under $300,000.

21703     2009     2008 % Change
Avg. Price   $199,677  $247,100     -19%
Median Price   $197,000   $227,500      -13%
DOM       78      96     -19%
# homes sold       42       36     +17%
New Listings:   74
Total Marked Contract:   41
Total Marked Contingent:   31
Total Pending (contract + contingent)   72

This zip code shows 272 active listings, representing roughly a 4-5 month inventory.  38 of the 42 sales were under $300,000, or 90%.

Overall, we’re seeing that inventory is shrinking, sales are up, and prices are reflecting the majority of sales in the first-time buyer (or investor) range - under $300K. 

Compare to Frederick City Real Estate Market Report for August 2009

Couny-wide statistics:  Frederick County Real Estate Market Report for September 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         301-831-9947
                                            Real Estate Teams, LLC
                                               isell4u2@msn.com                
                                 
                                        Pictures of Frederick