Frederick County Maryland Real Estate as of July 14

So far for the month of July, the SOLD and Pending Sale numbers are below June’s number, however, with the holiday weekend falling in that period, those numbers are not surprising.   Of the 57 SOLD units in July, 7 are identified as Foreclosures, with 7 being identified as Short Sales.  As far as Pending Sales, 19 of the 122 are indicated as Foreclosures and 28 as Short Sales.  New Listing totals for July as of the 14^th are 158, 8 indicated as Foreclosures and 36 as Short Sales.  As of July 16, the Current Active Inventory is only 1266 units.  Showing activity seems to have picked back up after the holiday week.  There is hope that the July numbers will catch up and surpass June’s and continue the strong showing for the area.

                     As of 7/14      As of 6/14    Current numbers vs. previous month (total) and vs. last year, same month (total)

Sold                    57*               66           *Approx 22% of the way to beat June 11 (258) and 26% of the way to beat Jul 10 (220)

Pending            122#            139          #Approx 40% of the way to beat June 11 (306) and 57% 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 32.37% (Down 0.11% from last week).  Three of five counties' percentages rose this week with Washington rising 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	1440	1162	278	19.31%	0.13%
Frederick	1872	1266	606	32.37%	-0.11%
Howard	2097	1540	557	26.56%	-1.04%
Montgomery	5750	3528	2222	38.64%	0.45%
Washington	1161	899	262	22.57%	1.31%
7/16/2011

* Distressed Property Activity - Frederick County:

Of the 1276 "Active" properties, 284 (49 Foreclosure, 235 Short Sale) are "Distressed" properties (23%)

Of the 601 "Under Contract" properties, 314 (50 Foreclosure, 264 Short Sale) are "Distressed" properties (5221%)

NOTE:  This past week, both the Active and Under Contract properties percentage was stable at 23% and 52%, respectively.  Frederick’s current Active Inventory count is 1266 units, an increase of 17 units from last week.  Frederick’s inventory level remains quite low by comparison to other counties.

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Thus ends my post.  See you next time.

Bob