The Frederick County, Maryland, Real Estate Market Statistics are out for the month of September. Many areas of Frederick have had an end-of-summer boost in sales, including parts of Frederick City. Living inside the city limits has its advantages, including convenience. With increased gas prices, the trend this year has been for people to move closer in to cities than to the suburbs.

 

Frederick, Area Code 21701 Information:

(since Sept. 2007)
Total Volume of sales: -36%
Avg sold Price: -28%
Total Units sold: 13 -12%
Days on Market: 136 133
Sold for % of List price: 90% compared to 90% in '07

 

Frederick, Area Code 21702 Information: *see note

Total Volume of sales: +14%
Avg. sold price: -20%
Total Units sold: 41 +40%
Days on Market: 94 126
Sold for % of List price: 91% compared to 90% in '07

 

Frederick, Area Code 21703 Information: *see note

Total Volume of sales: +37%
Avg. sold price: -9%
Total Units sold: 36 +50%
Days on Market 96 101
Sold for % of List price: 93% compared to 93% in '07

 

* This increase in sales is partly the end of summer bump that we often see as families want to get settled before the school year. I believe it is also the result of a rush to take advantage of the seller contribution assistance programs, like Nehimiah, which ended on Oct. 1, due to Congress outlawing these programs.

The third reason for this increase in sales is the possibility that prices have reached the place of affordability. After years of rapid price acceleration, First-time homebuyers were priced out of the market. After the bubble popped, we've seen prices come down enough to meet affordability.

 

Frederick Countywide Statistics:
Total Volume of Sales: +15% since Sept. 2007
Avg. Sold Price: $290,129 -15%

Total Units Sold: 205 +35%

Days on Market: 120 (129) roughly the same

Sold for % of List Price: 91% 92% in Sept. 2007