Frederick County Maryland Real Estate as of 7/21/11

The SOLD and Pending Sale numbers for Frederick County numbers for July continue to lag behind June’s number.  The real estate activity started out the month slowly, with the holiday on the 4th, and while the activity is stable, the numbers have continued to run behind since that time.   Of the 106 SOLD units as of the 21^st, 15 are identified as Foreclosures, with 17 being identified as Short Sales.  The 106 SOLD count is 8 units behind June’s number as of the 21^st. As far as Pending Sales, 22 of the 173 recorded thus far in July are indicated as Foreclosures and 51 as Short Sales.  The July total Pending Sales of 173 is 33 units behind June’s number of 206 as of this point in the month.  New Listing totals for July as of the 21^st are 177, 14 indicated as Foreclosures and 52 as Short Sales.  As of July 16, the Current Active Inventory is only 1282 units. 

                     As of 7/21      As of 6/21    Current numbers vs. previous month (total) and vs. last year, same month (total)

Sold                   106*            114           *Approx 41% of the way to beat June 11 (258) and 48% of the way to beat Jul 10 (220)

Pending            173#            206          #Approx 57% of the way to beat June 11 (306) and 72% 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 31.66% (Down 0.71% from last week).  Three of five counties' percentages rose this week with Carroll 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	1154	286	19.86%	0.56%
Frederick	1876	1282	594	31.66%	-0.71%
Howard	2078	1520	558	26.85%	0.29%
Montgomery	5669	3477	2192	38.67%	0.02%
Washington	1171	907	264	22.54%	-0.02%
7/23/2011

* Distressed Property Activity - Frederick County:

Of the 1282 "Active" properties, 292 (42 Foreclosure, 250 Short Sale) are "Distressed" properties (23%)

Of the 594 "Under Contract" properties, 317 (49 Foreclosure, 268 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 rose by 1% to 53%.  Frederick’s current Active Inventory count is 1282 units, an increase of 16 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