Baker Park Neighborhood Market Report Second Quarter 2017
provided by the Highland Group – eXp Realty
Frederick Md Neighborhood: Baker Park
Baker Park is an established neighborhood in the center of Frederick that offers stately homes surrounding the 58 acre linear park.
You’ll find many Victorian homes built in the first half of the 1900’s, some Colonials and Arts & Crafts homes also. Most of the homes were built on larger city lots, with lovely tree-lined streets.
There is one area of Baker Park where you’ll find brand new “yet historic” homes. Known as Baker Park Estates, the development has custom homes under construction by Mitchell & Best home builders priced at $1.35 million and started out with seven lots for sale at $475,000 each. The lots are each about one-fourth of an acre. Buyers can work with an architect and custom builder of their choosing but must follow community guidelines for their architectural style. Buyer representation is a option that new home buyers will want to consider.
Learn more about the neighborhood: Homes for Sale in Baker Park Frederick Md
Baker Park, Frederick Md Area Information:
Baker Park Boundaries:
Baker Park Neighborhoods surround the linear park on both sides, for several blocks. Many times people refer to the neighborhood as Baker Park/Hood College, including the homes that are adjacent to the college and Frederick Memorial Hospital. But Baker Park proper, extends from:
- East: N. Bentz Street
- West: I-15
- North: Dill Avenue
- South: West Patrick Street/144
- Hood College Neighborhood runs between Dill Avenue and 7th Street
Baker Park is a sought-after location, with real estate values that consistently average about 40% above the average sales price for Frederick County. The Linear Park is the favorite for City of Frederick residents with the Bell Tower as one of the main attractions. There is an amphitheater where summer concerts take place, a pool, playgrounds, tennis courts and more.
Although Baker Park and Hood College are not part of the Historic District, the majority of the homes are older homes with significant architectural detail and beauty. The homes you will find in this neighborhood are single-family homes, mostly built before mid-century. All are custom-built, and none are alike.
Baker Park, Frederick Real Estate Market Information:
Real estate activity from the 1st quarter, with current Baker Park Listings:
Sold Homes in Baker Park 2nd quarter 2017:
• Number of homes sold: 8 homes sold, 6 single-family homes, 1 duplex, 1 condominium
• Average Sold Price
- Single-family: $678,959
- Fairfield Condominium Sold Price: $249,000
- Dill Ave. Duplex Sold Price: $265,000 (Short Sale)
• Average SP/LP ratio (what % of asking price did homes sell for): 100.5% of List Price at time of sale.
• Average Days On Market: 107 … without the Short Sale, which took 383 days to sell, the average DOM was 67.
Another note about Days on Market, or DOM, one house that was first listed for $975,000, eventually sold for $775,000 after 285 days.
Opinion: This is a classic situation of overpricing at the time of listing, leading to multiple price drops, and finally a stigmatized listing that gets lowball offers.
Five homes sold for 100% of list price or more, and sold in under 14 days, 3 sold in less than 7 days. These homes were priced properly from the start. One home was sold for 12% over list price in 7 days!
Average Year Built: 1929
Fairfield Condominiums were built in 1990. The condo sold at 100% of list price, and was on the market for 14 days.
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Active Homes for sale in Baker Park:
Number of homes for sale: There are 4 active single-family listings in Baker Park, and one condominium in Fairfield Condominiums.
• 300 Fairview Avenue: Asking Price: $424,900, a 4 bedroom, 3 full and 1 half bath, single-family Cape Cod style home. It’s been on the market 317 days, original list price $467,900.
• 209 Rockwell Terrace: Asking Price $869,000, a 5 bedroom, 3 full and 1 half-bath single-family Colonial home. It’s been listed for 30 days at the original list price.
• 700 Rosemont Avenue, Asking Price $1,249,000, a 6 bedroom, 3 full and 1 half-bath single-family Georgian style home, built in 1925. It has been listed for 6 days, with a $20,000 price reduction already. It has 4 levels, an extra 3rd floor kitchen, 3-car garage, and 2 fireplaces, on .65 acre lot…gorgeous!
• There is one To-Be-Built home listed at $1,375,000 by Mitchell & Best custom builders in Baker Park Estates. There are only 9 new homes in this beautiful neighborhood. These grand homes have a $50,000 outdoor living allowance for deck, patio and rear landscaping!
• The Condo is listed at 102 Mercer Court, #214, a first-floor condo with 2 bedrooms, 2 full baths, listed at $239,900. Built in 1993, it’s been listed for 126 days and the original list price was $249,900.
Contact the Highland Group for buyer representation and a personal tour of Baker Park real estate.
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Enjoy our Video: A Summer Day in Baker Park