Frederick County Maryland Real Estate as of 6/28/11

   The Real Estate Market numbers trending so far for Frederick County for June have flipped.  Previously this month, the Sold numbers were running slightly behind and the Pending Sales numbers slightly ahead of last month.  Currently, that has reversed with the Sold number now running ahead and the Pending Sale number running behind last month.  As of the 28^th of June the SOLD number is 185 units, 12 units AHEAD of the 173 units SOLD as of May 28^th.  Of those SOLD units, 38 units were Foreclosed homes and 24 were Short Sales.  There were 259 New Pending Contracts as of June 28^th, 27 of which were on Foreclosed properties and 69 on Short Sales.  The 259 Pending Sales units puts Frederick County 19 Pending Sale units behind the number as of the 28^th of May.  There have been 344 New Listings thus far in June, 31 of them were identified as Foreclosures and 57 as Short Sales.  One interesting note is that all five counties are showing the same trend, Sold units are running ahead and Pending Sales are running behind last month.

                     As of 6/28      As of 5/28    Current numbers vs. previous month (total) and vs. last year, same month (total)

Sold                  185*               173           *Approx 77% of the way to beat May 11 (235) and 65% of the way to beat Jun 10 (283)

Pending            259#              278          #Approx 82% of the way to beat May 11 (278) and 22% ABOVE 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 32.95% (Down 1.12% from last week).  All five counties' percentages fell this week with Howard falling 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	1418	1138	280	19.75%	-1.94%
Frederick	1903	1276	627	32.95%	-1.12%
Howard	2100	1503	597	28.43%	-2.21%
Montgomery	5816	3549	2267	38.98%	-0.67%
Washington	1170	936	234	20.00%	-2.20%
6/30/2011

* Distressed Property Activity - Frederick County:

Of the 1276 "Active" properties, 289 (53 Foreclosure, 236 Short Sale) are "Distressed" properties (23%)

Of the 627 "Under Contract" properties, 321 (51 Foreclosure, 270 Short Sale) are "Distressed" properties (51%)

NOTE:  This past week, the Active properties percentage was stable at 23% while the Under Contract percentage rose by 2% to 51%.  This increase is likely due to the larger number of settlements at the end of the month dropping the under contract count, while the Under Contract distressed properties continue to wait for bank approval.  Frederick’s current Active Inventory count is 1276 units, a DECREASE of 9 units from last week.

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Thus ends my post.  See you next time.

Bob