Frederick Md Homes For Sale – The Historic District

Frederick County Real Estate Market Report

for November 2011 provided by the Highland Group,

Here are the highlights:

Note:  There are currently 1054 listings for sale in Frederick County.  This inventory is a new recent low, making roughly a 5 month inventory, a balanced market.      14% of sales were cash deals, reflecting a lot of investors in the market.   There are fewer foreclosures on the market at this time, but we expect more in the spring and summer of 2012.

*Other notable sales statistics: Sellers got 88% of list price on average, compared to 92% at this same time last year. We’re seeing the market stabilize.

*MRIS – Mid-Atlantic Regional Information System – These statistics are not guaranteed but are considered accurate.

See other Frederick Real Estate Market Reports for comparison.

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The Highland  Group
Chris & Karen Highland *        301-831-9947
Turning Point Real Estate “ 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119

Frederick Md Real Estate Market Reports provided by The Highland Group
Statistics for September 2011 have been published by MRIS*.
Here are the highlights for 21703 in the City of Frederick:

*     *     *     *     *     *

This zip code shows 119 active listings, representing roughly a 4 month inventory.  Sellers got an average of 989% of list price this month, compared to 91% this time last year.  17% of sales were cash deals.

*     *     *     *     *     *

Notes: The inventory has been declining steadily, creating a lower absorption rate.  (Absorption rate = how long it will take to sell the homes currently on the market) Cash buyers are a still a significant part of the monthly sales.  Foreclosures and short sales are declining for the time being, but we expect more to enter the Frederick real estate market during Spring and Summer 2012.  Prices are leveling off in most of the county. We see a decline in average and median sales prices from last year, but month over month we see little movement.

*     *     *     *     *     *

*MRIS – Mid-Atlantic Regional Information System – These statistics are not guaranteed but are considered accurate.

Compare to Previous Frederick County Real Estate Market Statistics

_____________________________________________________________

The Highland Group
Chris & Karen Highland * 301-831-9947
Turning Point Real Estate “ 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119

Frederick Md Real Estate Market Reports provided by The Highland Group

Statistics for November 2011 have been published by MRIS*.
Here are the highlights for the three zip codes in the City of Frederick:

The inventory is 197 active listings in the zip code, continuing to decrease, which represents roughly a 5-6 month inventory.  Sellers are getting an average 85% of list price, compared to 91% one year ago.  16% of sales last month were cash deals. (The normal number is 7-9%)

*         *         *         *         *

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*All statistics are gathered from the MRIS, Metropolitan Regional Information System, and while accurate, are not guaranteed.

See other Frederick Real Estate Market Reports for comparison.

_____________________________________________________________

The Highland  Group
Chris & Karen Highland *        301-831-9947
Turning Point Real Estate “ 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119

The Frederick real estate market has had a year of leveling in 2010.   The sharp decline in prices and sales went from double diget percentages in 2008 and ’09 to single digit percentage declines in 2010.

December and year-end statistics are showing that declines have leveled off to what most of us consider a bottom.   So what’s in store for 2011?

Nationally, we’re seeing good news, although mild.   December new home sales were up 17.5%, much higher than predicted.   The supply of new homes dropped to 6.9%, according to the National Association of Home Builders, NAHB.   This was down almost 67% from the 2006 high, and the lowest level since 1968.

Nationally, we saw an increase of 8.5% in median home price compared to 2009.   The average home price was up 4.7%.   NAR Statistics.

Mortgage experts are closely watching 2 statistics:   Jobs and inflation.   Inflation will send mortgage rates up.   Continued high unemployment will sap consumer confidence.

                             
                                                                                                                                                                                                                                                                                                                                 
                                The Highland Group – Real Estate Teams
                                     
                                                              Chris & Karen Highland
                                                                              301-831-9947
                                                                Real Estate Teams, LLC
chris@highlandrealestategroup.com                            
                                               
                                                                Pictures of Frederick

For those of you who prefer the full audio/visual report, here is the link to the MRIS  youtube video  of this month’s Regional Market Report:

MRIS Northern Region Market Report for  May 2010

Synopsis:   Since the Homebuyer’s Tax Credit has expired we’ve seen a drop off in sales, but we’ve also seen a drop in inventory.   We still expect a leveling off of the market, continued foreclosures dripping into the market, and low interest rates throughout the summer.

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                        The Highland  Group “ Real Estate Teams
Chris & Karen Highland *        301-831-9947
                                                Real Estate Teams, LLC
email us: isell4u2@msn.com
TEXT US:   301-401-5119

Affordability in everyday finances is usually a subjective term.

In the housing industry, Affordability is a term that reflects the average home price compared to the  median wage of an area.   For 19 years the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) has kept track of home price averages and puts out a yearly ranking of over 200 metropolitan areas.

For 5 consecutive  quarters the HOI has shown the highest levels of affordability since the study started 19 years ago.  

This quarter, the HOI showed that 72.2 percent of all new and existing homes sold in the first quarter of 2010 were affordable to families earning the national median income of $63,800.   This figure was  slightly higher than the previous quarter and near the record-high 72.5 percent set during the first quarter of 2009.

The combination of low housing values and record low mortgage rates have produced the most favorable environment for home affordability in years.  

How does Frederick fare in the affordability ranking?  

The Bethesda-Rockville-Frederick, MD metropolitan area ranks 146th nationally, and   57th regionally, with an affordability index of 75.4.   This means that 75.4   percent of all new and existing homes sold in the first quarter of 2010 were affordable to families earning the median income of $109,000.

Other interesting stats:  

Indianapolis, IN, and Youngstown, OH tied for first place with an affordability index of 95.   For the 8th consecutive quarter New York led the nation in the least affordable housing market with an index of 21.

Use our free MLS search to find your dream home:

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                                        The Highland  Group “ Real Estate Teams
Chris & Karen Highland *        301-831-9947
                                                                                Real Estate Teams, LLC
email us: isell4u2@msn.com
TEXT US:   301-401-5119