Frederick County Maryland Real Estate

   Frederick County’s May Real Estate numbers continue the solid run it has maintained for the past several months.  SOLD units were 235, 9% ABOVE April of 2011.  While that number is 20% below April of 2010, it comes as no surprise since April 2010 was the first month after the end of the government Tax Credit and its SOLD numbers were artificially high.  Continuing the good news was the Pending Sales number.  Frederick County posted 315 new Pending Sales in May, a 6% increase over April of 2011 and a 61% increase over April 2010.  While it was to be expected that Pending Sales would be higher than April 2010, again because of the end of the Tax Credit, the over 60% increase is a very good sign of the strength of the current market activity.  

The Total Volume Sold for Frederick County in May was $57,399,608, an increase of nearly 11 ½% over April which was $51,499,689 and as expected, down from 2010 (by 25%).  The Average Sold Price of $244,254 was nearly 2% higher than the $239,533 for April.   The Median Sold Price was $218,000, which was approx 4% higher than the $210,000 for April.  These are all good numbers and another good number is the Average Days on Market.  For May, Frederick County’s Average was 107 days vs. an average of 125 days in April, good for an improvement of approx 14%. 

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

Sold                   235*           *Approx 9% ABOVE Apr 11 (215) but 20% below May 10 (293)

Pending            278#          #Approx 6% ABOVE Apr 11 (298) and 61% ABOVE May 10 (196)

So far in June, the SOLD number, as of the 7^th, is 27 units vs. 31 units as of May 7th.  Five of those sales were of Foreclosed homes and five were short sales.  There were 73 New Pending Contracts as of June 7^th, 8 of which were on Foreclosed properties and 18 on Short Sales.  The 73 Pending Sales puts Frederick County 8 Pending Sale units ahead of the number as of the 7^th of May.  There have been 105 New Listings thus far in June, 18 of them were identified as Foreclosures and 20 as Short Sales. 

                  As of 6/7    As of 5/7    Current numbers vs. previous month (total) and vs. last year, same month (total)

Sold              27*              31           *Approx 12% of the way to beat May 11 (235) and 10% of the way to beat Jun 10 (283)

Pending       73#             65           #Approx 23% of the way to beat May 11 (278) and 34% of the way to beat Jun 10 (212)

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 33.73% (down 0.33% from last week).  Four of the five counties' percentages fell this week. Carroll was the only county to in the positives as it rose by .79%.   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	1447	1142	305	21.08%	0.79%
Frederick	1927	1277	650	33.73%	-0.33%
Howard	2150	1512	638	29.67%	-0.29%
Montgomery	5983	3585	2398	40.08%	-1.01%
Washington	1170	901	269	22.99%	-0.67%
6/9/2011

* Distressed Property Activity - Frederick County:

Of the 1277 "Active" properties, 300 (60 Foreclosure, 240 Short Sale) are "Distressed" properties (23%)

Of the 650 "Under Contract" properties, 332 (67 Foreclosure, 265 Short Sale) are "Distressed" properties (51%)

NOTE:  This past week, the Active properties percentage was stable at 23% while the Under Contract percentage dropped 1% to 51%.  Frederick’s Active Inventory Count was 1277 units, an increase of only 1 unit from last week. 

Don't forget to visit my website http://www.bobsawchuck.com/. 

Thus ends this post.  See you next time..

Bob