Frederick County Real Estate
Snapshot for March 2012
The Frederick real estate market was picking up in March . Here is a snapshot of real estate sales in Frederick County:
|Avg. Price||$260,700||$268,300||-3% ↓|
|Month-Over-Month||$230,000||$230,000 (Feb)||+13% ↑|
|Median Price||$227,500||$241,200||-6% ↓|
|Month-Over-Month||$227,500||$215,000 (Feb)||+6% ↑|
|# homes sold||206||202||+7% ↑|
|Month-Over-Month||206||166 (Feb)||+24% ↑↑|
|Total Listings||850||1194||-29% ↓↓|
|Inventory||5-6 mos.||8-9 mos.||↓|
|New Pending Sales||336||356||↓ -6%|
|Sale Price as
% of List Price
What’s Notable: Sales Are Up, Prices are Stable, Inventory is LOW.
- Short Sales are 15% of the present inventory, and Foreclosures make up 2%.
- The inventory is at 850 homes on the market. 29% fewer homes on the market than last year at this time, and the supply is staying the same month over month. We wonder if the low inventory and higher demand will contribute to higher prices? What impact will appraisals have on that dynamic? We’ll see it play out.
- The number of pending sales has increased this month over last month, foretelling a busy spring market.
- 16% of sales last month were cash deals. The normal amount has historically been 7 – 9%. This number represents a lot of investor purchases, which have been high for the entire year.
We’re seeing multiple offers on listings that are in great condition and well-priced. If you are in the market and you see a house you want, don’t hesitate, pull the trigger! It won’t be there next week. (But if you miss it, there will be more)
With today’s historically low interest rates we’re seeing the most affordable real estate market in decades. The present market is a great opportunity to buy Frederick Real Estate.
What’s My Home Worth?
|The Highland Group
Turning Point Real Estate
8923 Fingerboard Road
Frederick, Md 21704
TEXT US: 301-401-5119