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Middletown, Maryland 21769 - Residential Real Estate Trends

Home sellers are facing a difficult challenge in the current soft market in Middletown area of Frederick County, Maryland 21769. It is taking longer to sell homes in this area than in Montgomery County. In 21769, the average days on the market before a sale has reached 207. Sellers should be prepared for the longer marketing period that is needed for the average sale. Many real estate agents are turning down listings due to the high marketing expense when the sellers are not highly motivated. The average sales price is down to 91.66% of the average list price. The majority of sellers are getting lower sales prices than they expected. Lender owned foreclosures are competing with individual sellers. The REO inventory is high and lenders are motivated sellers because they must reduce their excess inventory of homes. This is a wonderful market for buyers.

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

ZIP Code: 21769 Middletown, MD

Roy Kelley, Associate Broker, RE/MAX Realty Group, roykelley@mris.com
From: 04/01/2008 to 04/30/2008 Statistics generated on: 05/07/2008

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 2
$100,000 - 149,999 0 0 0 0 0 0 0 0 31-60 Days 0
$150,000 - 199,999 0 0 0 0 0 2 0 0 61 - 90 Days 1
$200,000 - 249,999 0 1 0 0 0 4 0 0 91-120 Days 1
$250,000 - 299,999 0 1 1 0 0 8 0 0 Over 120 Days 6
$300,000 - 349,999 0 0 1 0 0 13 0 0 Total 10
$350,000 - 399,999 0 0 1 0 0 14 0 0
$400,000 - 449,999 0 0 1 0 0 10 0 0 Type of Financing
of Units Sold
(No. of Units)
$450,000 - 499,999 0 0 3 0 0 7 0 0
$500,000 - 599,999 0 0 0 0 0 13 0 0 Conventional 6
$600,000 - 699,999 0 0 1 0 0 9 0 0 FHA 1
$700,000 - 799,999 0 0 0 0 0 5 0 0 VA 1
$800,000 - 899,999 0 0 0 0 0 3 0 0 Assumption 1
$900,000 - 999,999 0 0 0 0 0 4 0 0 Cash 1
$1,000,000 - 2,499,999 0 0 0 0 0 6 0 0 Owner Finance 0
$2,500,000 - 4,999,999 0 0 0 0 0 2 0 0 All Other 0
$5,000,000 & Over 0 0 0 0 0 0 0 0 Unreported 0
Totals 0 2 8 0 0 100 0 0 Total 10
Grand Totals 10 100
2008 2007 % Change
Total Sold Dollar Volume: $ 3,880,400 $ 2,235,000 73.62 %
Average Sold Price: $ 388,040 $ 447,000 - 13.19 %
Median Sold Price: $ 392,500 $ 485,000 - 19.07 %
Total Units Sold: 10 5 100.00 %
Average Days on Market: 207 236 - 12.29 %
Average List Price for Solds: $ 423,340 $ 513,480 - 17.55 %
Avg Sale Price as a
percentage of Avg List Price:		 91.66 % 87.05 %
Total NEW listings: 32
Total Properties Marked Contract: 9
Total Properties Marked Contingent Contract: 5
Total NEW pendings (Contracts + Contingents): 14

Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2008 - Information deemed reliable, but is not guaranteed.

Please contact us if you wish to have information on available properties. We also advise buyers on the procedures to purchase lender owned foreclosures.

Posted Monday May 12