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MIDDLETOWN MD 21769 REAL ESTATE TREND INDICATOR

MIDDLETOWN MD 21769 REAL ESTATE TREND INDICATOR

If you are planning to purchase or sell a home in Middletown, you will want to know the trends of the market. The following report is for the past month and the statistics are compared with the same month last year. There were 87 active listings of homes for sale on MRIS during the month. There were 19 new listings and 13 went to pending new contracts. The sold dollar volume was down 15.85% from last year. The number of homes sold was 9 from 8 last year. The average days on the market was 129 days from 147 days last year. The average sale price was 92.84% of the average list price. The median sold price was $322,500. The market is still soft which means that it favors buyers. Foreclosures and short sales listings still influence the area market. Buyers are finding it more difficult to qualify for mortgage financing and the trend is to the use of FHA financing which has a minimum cash requirement of 3.5% of the purchase price. FHA Streamlined 203(k) financing allows borrowers to include up to $35,000 of home improvements in the mortgage amount. First time buyers have the benefit of the currently available $8,000 federal tax credit for purchases completed before the end of November. All prospective buyers are advised to obtain pre-approval for mortgage financing before submitting an offer. More investors are buying because the prices on lender owned foreclosures are the lowest in several years.

Roy Kelley, Associate Broker, RE/MAX Realty Group

Home Search Website: www.roykelley.com

Email: roykelley@mris.com; Client Assistance: 301-670-8996

Metropolitan Regional Information Systems, Inc. ZIP Code Statistics - <$100K to >$5M Format

ZIP Code: 21769 Middletown, MD
From: 05/01/2009 to 05/31/2009 Statistics generated on: 06/08/2009

Residential
Unit Sales
Number of Bedrooms		 Active Listings Time on Market
Price Class 2
Or Less
3		 4
or More 		Condo
Coop		 Ground
Rent		 Residential
 Condo
Coop		 Ground
Rent		 of Units Sold
(No. of Units)
Under $100,000 0 0 0 0 0 0 0 0 1 -30 Days 3
$100,000 - 149,999 0 0 0 0 0 1 0 0 31-60 Days 2
$150,000 - 199,999 0 0 0 0 0 3 0 0 61 - 90 Days 0
$200,000 - 249,999 0 1 1 0 0 6 0 0 91-120 Days 0
$250,000 - 299,999 0 1 1 0 0 13 0 0 Over 120 Days 4
$300,000 - 349,999 0 0 1 0 0 14 0 0 Total 9
$350,000 - 399,999 0 0 1 0 0 9 0 0
$400,000 - 449,999 0 0 0 0 0 6 0 0 Type of Financing
of Units Sold
(No. of Units)
$450,000 - 499,999 0 0 0 0 0 11 0 0
$500,000 - 599,999 0 0 1 0 0 7 0 0 Conventional 6
$600,000 - 699,999 0 0 1 0 0 6 0 0 FHA 3
$700,000 - 799,999 0 0 1 0 0 3 0 0 VA 0
$800,000 - 899,999 0 0 0 0 0 1 0 0 Assumption 0
$900,000 - 999,999 0 0 0 0 0 1 0 0 Cash 0
$1,000,000 - 2,499,999 0 0 0 0 0 5 0 0 Owner Finance 0
$2,500,000 - 4,999,999 0 0 0 0 0 1 0 0 All Other 0
$5,000,000 & Over 0 0 0 0 0 0 0 0 Unreported 0
Totals 0 2 7 0 0 87 0 0 Total 9
Grand Totals 9 87
2009 2008 % Change
Total Sold Dollar Volume: $ 3,587,500 $ 4,263,250 - 15.85 %
Average Sold Price: $ 398,611 $ 532,906 - 25.20 %
Median Sold Price: $ 322,500 $ 500,000 - 35.50 %
Total Units Sold: 9 8 12.50 %
Average Days on Market: 129 147 - 12.24 %
Average List Price for Solds: $ 429,367 $ 610,555 - 29.68 %
Avg Sale Price as a
percentage of Avg List Price:		 92.84 % 87.28 %
Total NEW listings: 19
Total Properties Marked Contract: 10
Total Properties Marked Contingent Contract: 3
Total NEW pendings (Contracts + Contingents): 13

Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2009 - Information deemed reliable, but is not guaranteed.

Please contact us with your questions on the residential real estate market.

Your Real Estate Professional,

Roy Kelley

Roy Kelley & Associates

Associate Broker, RE/MAX Realty Group

6 Montgomery Village Avenue, Suite 200, Gaithersburg, MD 20879 USA

Direct: 301-921-4569 Client Assistance: 301-670-8996

Email: roykelley@mris.com Main Office: 301-258-7757 x 569

Home Search Website: www.roykelley.com Click on Homes Prospector for access to all of the available homes on MRIS.

Blog: http://activerain.com/blogs/roykelley

Follow me on Twitter: http://twitter.com/roykelley

FIRST TIME HOME BUYER $8,000 TAX CREDIT: www.federalhousingtaxcredit.com

FHA loan limits for Montgomery County and Frederick County: $729,750. Limit for FHA reverse mortgages: $625,000.

Posted Monday Jun 22