Frederick County Maryland Real Estate as of 8/14/11

Frederick County’s August SOLD units are continuing to run well as of the 14^th of the month.  SOLD units are at 74, 18 ahead of the July 14^th number.  Eleven of these are indicated as Foreclosures and 13 as Short Sales.  Pending Sales are at 112 as of the 14^th of the month, 10 units behind the 122 recorded as the 14^th of July.  Ten of these are indicated as Foreclosures and 36 as Short Sales.  So far there have been 158 New Listings for the month, 9 indicated as Foreclosures and 28 as Short Sales.

                     As of 8/14      As of 7/14    Current numbers vs. previous month (total) and vs. last year, same month (total)

Sold                    74*                57           *Approx 34% of the way to beat July 11 (221) and 33% of the way to beat Aug 10 (227)

Pending            112#             122          #Approx 42% of the way to beat July 11 (270) and 51% of the way to beat Aug 10 (221)

In addition to the normal chart, below is a chart showing Total units, Active, and under Contract.  For Frederick County the number of units under contract vs the total is 30.67% (down 0.62% from last week).  This week’s numbers were split with three counties' percentages RISING this week and two falling.  Washington rose the most.   Montgomery still maintains the highest percentage while Frederick maintains second place.

Percent of Homes Under Contract vs. Total

Current Active vs. Contract Snapshot
	Total	Active	Contract	% Contr	% Chg vs LW
Carroll	1412	1129	283	20.04%	-0.01%
Frederick	1816	1259	557	30.67%	-0.62%
Howard	2036	1494	542	26.62%	0.06%
Montgomery	5419	3348	2071	38.22%	0.04%
Washington	1127	866	261	23.16%	0.20%
8/16/2011

* Distressed Property Activity - Frederick County:

Of the 1259 "Active" properties, 293 (41 Foreclosure, 252 Short Sale) are "Distressed" properties (23%)

Of the 557 "Under Contract" properties, 297 (40 Foreclosure, 257 Short Sale) are "Distressed" properties (53%)

NOTE:  This past week, both the Active properties percentage and Under Contract percentage were stable at 23% and 53%, respectively.  Frederick’s current Active Inventory count is 1259 units, an increase of 16 units from last week.  Frederick’s inventory level remains quite low by comparison to other counties.

Visit my website for more information and to sign up for County Reports in a graph format.  In addition to Frederick County, I cover Carroll, Howard, Montgomery, and Washington Counties in Maryland.  Click on the County Reports Button on the left side of my Home Page.

http://www.bobsawchuck.com/ or scan the code below from your smartphone:



Thus ends my post.  See you next time.

Bob

Frederick County Maryland Real Estate July Final/Aug 7

The SOLD and Pending Sale numbers for Frederick County for July have ended as they have tracked all month, running slightly behind June’s numbers.  The SOLD number was 221 units, 14% shy of the June Total but 1% ABOVE the total from July 2010.  The Pending Sales number for July was 270 units, 12% shy of June’s number but 13% ABOVE July of 2010.  Of the 221 SOLD units, 26 were indicated as Foreclosures and 34 as Short Sales.  Of the 270 Pending Sales, 21 were indicated as Foreclosures and 70 as Short Sales.

The Total Volume Sold for Frederick County in July was $57,685,121 vs. $63,787,389 for June, a decrease of just under 10% and also, slightly down from 2010 (by 6%).  The Average Sold Price of $261,019 was 6% ABOVE the $247,238 for June.   The Median Sold Price was $235,000 vs. $220,000 for June which was nearly 7% higher than the June number.  While the Sold total unit count and therefore, total Dollar Volume show declines from June, July is typically a bit slower than June so there is not a major concern for the decline.  The positive note is the prices seem to be stable to rising while inventory continues to be steady to falling.  This is another indication of stability in the market. Regarding Days on Market, for June, Frederick County’s July Average was 111 days vs. an average of 101 days in June, a slight decline, however, not a major issue.

 August has started out well for Frederick County.  SOLD units are at 35, 15 ahead of July’s number as of the 7^th of the month.  Seven of these are indicated as Foreclosures and 5 as Short Sales.  Pending Sales are at 56 as of the 7^th of the month compared to 55 as the 7^th of July.  Three of these are indicated as Foreclosures and 20 as Short Sales.  So far there have been 80 New Listings for the month, 5 indicated as Foreclosures and 14 as Short Sales.

                     Final            Current numbers vs. previous month (total) and vs. last year, same month (total)

Sold                  221           *Approx 86%, 14% shy of June 11 (258) and 1% ABOVE Jul 10 (220)

Pending            270          #Approx 88%, 12% shy of June 11 (306) and 13% ABOVE Jul 10 (239)

                     As of 8/7      As of 7/7    Current numbers vs. previous month (total) and vs. last year, same month (total)

Sold                    35*              20           *Approx 16% of the way to beat July 11 (221) and 15% of the way to beat Aug 10 (227)

Pending              56#             55          #Approx 21% of the way to beat July 11 (270) and 25% of the way to beat Aug 10 (221)

In addition to the normal chart, below is a chart showing Total units, Active, and under Contract.  For Frederick County the number of units under contract vs the total is 31.29% (UP 0.7% from last week).  All five counties' percentages ROSE this week with Washington rising the least.   Montgomery still maintains the highest percentage while Frederick maintains second place.

Percent of Homes Under Contract vs. Total

Current Active vs. Contract Snapshot
	Total	Active	Contract	% Contr	% Chg vs LW
Carroll	1411	1128	283	20.06%	0.65%
Frederick	1809	1243	566	31.29%	0.07%
Howard	2037	1496	541	26.56%	0.64%
Montgomery	5417	3349	2068	38.18%	0.72%
Washington	1141	879	262	22.96%	1.74%
8/9/2011

* Distressed Property Activity - Frederick County:

Of the 1243 "Active" properties, 292 (40 Foreclosure, 252 Short Sale) are "Distressed" properties (23%)

Of the 566 "Under Contract" properties, 300 (39 Foreclosure, 261 Short Sale) are "Distressed" properties (53%)

NOTE:  This past week, the Active properties percentage was again stable at 23% while the Under Contract property percentage dropped by 2% to 53%.  Frederick’s current Active Inventory count is 1243 units, a DECREASE of 13 units from last week.  Frederick’s inventory level remains quite low by comparison to other counties.

Visit my website for more information and to sign up for County Reports in a graph format.  In addition to Frederick County, I cover Carroll, Howard, Montgomery, and Washington Counties in Maryland.  Click on the County Reports Button on the left side of my Home Page.

http://www.bobsawchuck.com/ or scan the code below from your smartphone:



Thus ends my post.  See you next time.

Bob

Frederick County Maryland Real Estate as of 7/28/11

The SOLD and Pending Sale numbers for Frederick County for July continue to lag behind June’s number.  The holiday at the beginning of the month caused the unit counts to start the month in a bit of a hole, however throughout the month, activity has been stable and in fact, showing activity has picked up in the latter part of the month.  This indicates that the numbers are behind simply because of the “lost” first week of the month and shows that buyers are out there.  Many are looking to find a home before the end of summer.  Of the 169 SOLD units as of the 28^th, 20 are identified as Foreclosures, with 25 being identified as Short Sales.  The 169 SOLD count is 16 units behind June’s number as of the 28^th. As far as Pending Sales, 27 of the 224 recorded thus far in July are indicated as Foreclosures and 67 as Short Sales.  The July total Pending Sales of 224 is 35 units behind June’s number of 259 as of this point in the month.  New Listing totals for July as of the 28^th are 295, 17 indicated as Foreclosures and 63 as Short Sales.  As of July 30, the Current Active Inventory is only 1256 units. 

                     As of 7/28      As of 6/28    Current numbers vs. previous month (total) and vs. last year, same month (total)

Sold                   169*            185           *Approx 66% of the way to beat June 11 (258) and 77% of the way to beat Jul 10 (220)

Pending            224#            259          #Approx 73% of the way to beat June 11 (306) and 94% of the way to beat Jul 10 (239)

In addition to the normal chart, below is a chart showing Total units, Active, and under Contract.  For Frederick County the number of units under contract vs the total is 31.22% (Down 0.45% from last week).  All five counties' percentages dropped this week with Frederick and Carroll dropping the least.   Montgomery still maintains the highest percentage while Frederick maintains second place.

Percent of Homes Under Contract vs. Total

Current Active vs. Contract Snapshot
	Total	Active	Contract	% Contr	% Chg vs LW
Carroll	1417	1142	275	19.41%	-0.45%
Frederick	1826	1256	570	31.22%	-0.45%
Howard	2033	1506	527	25.92%	-0.93%
Montgomery	5510	3446	2064	37.46%	-1.21%
Washington	1150	906	244	21.22%	-1.33%
7/30/2011

* Distressed Property Activity - Frederick County:

Of the 1256 "Active" properties, 286 (42 Foreclosure, 244 Short Sale) are "Distressed" properties (23%)

Of the 570 "Under Contract" properties, 316 (47 Foreclosure, 269 Short Sale) are "Distressed" properties (55%)

NOTE:  This past week, the Active properties percentage was again stable at 23% while the Under Contract property percentage rose by 2% to 55%.  The rise in Under Contract percentage is not unexpected at this time of the month.  The change reflects two factors, the decline in the number of Under Contract units, mostly due to settlements, (from 594 last week to 570 this week) coupled with the stability of the distressed properties under contract (317 last week vs. 316 this week.)   The fact that many distressed properties take longer to sell keeps the Under Contract property count high since these typically take many months to reach settlement.  Frederick’s current Active Inventory count is 1256 units, a DECREASE of 26 units from last week.  Frederick’s inventory level remains quite low by comparison to other counties.

Visit my website for more information and to sign up for County Reports in a graph format.  In addition to Frederick County, I cover Carroll, Howard, Montgomery, and Washington Counties in Maryland.  Click on the County Reports Button on the left side of my Home Page.

http://www.bobsawchuck.com/ or scan the code below from your smartphone:



Thus ends my post.  See you next time.

Bob