Real Estate Marketing Specialists

Category Archives: Frederick Real Estate Market Statistics

Monthly real estate statistics for the Frederick County Market. A long-term look at what the numbers are doing will help buyers and sellers have a better strategy in purchasing or selling their home.

Frederick County Real Estate Market Snapshot January 2016

Frederick County Real Estate Market Snapshot January 2016

Frederick County Real Estate Market Snapshot January 2016

provided by the Highland Group

The real estate market in Frederick was dampened a bit by winter storm Jonas in January. Three feet of snow tends to put a squash on a a lot of eXp Realtyactivity. Here is a snapshot of Frederick County Md real estate statistics:

Real Estate Statistics in Frederick Md

Average Home Sales Price:  $298,500: down a negligible half% from last January.

  • Average Single-Family Sales Price:  $337,000, down just under 1% from last year.
  • Average Attached Home Sales Price:  $212,600, down 9%
  • 60 Townhouses sold this year compared to 59 last year: 1.7
  • More single-family homes sold compared to last year: 134 compared to 100, or 34% more

Median Home Sales Price:   $272,500: down 2.6% since last January.

Average Days on Market (DOM): 98 days, higher than last year (85), and higher than the 5 year average for January (94).

Number of Homes Sold:  194, up 22% over last year. There were 300 new pendings (homes that went under contract) about the same as last January.

Total Listings in Frederick Md: 1072, up 7% from 1000 last January. A “normal” market is about 1200, with a 4-5 month absorption rate.

Sellers got 94% of list price on average, the same as 94% last year. This number has been fairly steady throughout the year, indicating a steady market.

What’s Notable:

  • More home buyers are able to afford more, and there are more move-up buyers in the market. Interest rates are still historically LOW, back down under 5%.
  • The inventory has decreased since summer, which is usual for the season, but still higher than last year. We expect an increase by spring, so Buyers will have more choices, sellers will have a bit more competition.
  • Cash deals were 17% of sales. As appreciation is expected, we’re seeing more Investors and flippers in Frederick. 40% of loans were with Conventional financing, 20% were FHA. 10% were VA.
  • The majority of home sales took place in the $200,000 to $300,000 price range. 24%. Close behind, 22% of the homes sold in the $300K to $400 K range. *People are moving up and can afford more.

 

*MRIS – Mid-Atlantic Regional Information System – These statistics are not guaranteed but are considered accurate.

Contact Chris Highland to see homes for sale in Frederick Md.


301-401-5119

Real Estate Market Activity for Frederick County – October 2015

Real Estate Market Activity for Frederick County – October 2015

 

Real Estate Market Activity for Frederick County – October 2015

provided by the Highland Group

Real Estate activity picked up significantly over the summer. It looks like we’re seeing a slower pace of sales since November 1, which is typical for Fall. Here is a snapshot of Frederick County real estate statistics for the month of October:

Real Estate Statistics in Frederick Md

Average Home Sales Price:  $284,200: doen slightly -2% from last October.

  • Average Single-Family Sales Price:  $326,100, down just 1% from last year.
  • Average Attached Home Sales Price:  $223,100, the same as last year.
  • More homes have sold this year over last year, both single family houses: 7% more, and 24% more attached houses.
  • A total of 319 homes sold in October,13% more than last year.
  • Demand is still up from last year.

Median Home Sales Price:   $265,000: up ↑ 1% since last last. (This means more homes sold in the lower price ranges than last year.) We’ve seen a lot of movement in the price ranges below $300,000.**

Average Days on Market (DOM) the time it takes to get a contract: 68 days, the same as last year, lower than the 5 year average for October (75).

Number of Homes Sold:  There were 341 new pendings (homes that went under contract) 11% more than last October. The demand was steady heading into Fall, pent-up demand is the term we’re seeing a lot. 

Total Listings in Frederick Md: 1386, up 10% from 1259 last year. The inventory is increasing to what is usually considered a normal number for Frederick County, but the demand is up, as well. We’re seeing a seller’s market with a 3 to 4 month absorption rate.

Keep in mind: some neighborhoods, like Urbana, Middletown and several in the city of Frederick, are in high demand, and have lower absorption rates. The communities on the outskirts of Frederick County: Myersville, Thurmont, Woodsboro, are less in demand and homes take a little longer to sell.

buying a home in the FallSellers got 95.4% of list price on average, compared to 94.6% at this time last year. This number has been fairly steady, and is close to the 5-year September average of 94.5%, indicating a steady market.

 

Additional Reading: Signs that You Are Ready to Purchase A Home This Fall, by Luke Skar, Madison Mortgage, with several reference to several helpful articles for home buyers.

 

A visual presentation of Frederick County Real Estate Market Update for October 2015:

Frederick Md real estate market

 

What’s Notable:

More home buyers are able to afford more than a few years ago, because Interest rates are still historically low. See today’s rates. The average on 30-year mortgage rates has stayed below 4% for several months. But this week average mortgage rates are at 4% to 4.125%, on news that Fed has signaled the they will consider raising rates before the end of the year.  

Additional Reading on Interest Rates:

Also Notable:

Cash deals were 10% of sales. As appreciation is expected, we’re still seeing Investors and flippers in the Frederick market. 48% of loans were with Conventional financing, 25% were FHA. 10% were VA.

**The majority of home sales took place in the $200,000 to $300,000 price range. 39% more than 1/3 of sales. First time buyers are a large part of that purchase group.

October 2015 provided by MRIS (Mid-Atlantic Regional Information System)

*MRIS – Metropolitan Regional Information System – These statistics are not guaranteed but are considered accurate. Frederick County Real Estate Market Update for September 2015.

Contact Chris Highland to see homes for sale in Frederick Md.

The Highland Group
Chris & Karen Highland 
eXp Realty – 410-777-5714
email us: Text Us: 301-401-5119

Villages of Urbana Real Estate Report – Summer 2015

Villages of Urbana Real Estate Report – Summer 2015

Villages of Urbana Neighborhood Market Report

provided by the Highland Group – eXp Realty

Villages of Urbana is located in Southern Frederick County, on route 355 and off exit 26 on I-270. There are over 2600 homes in the Villages of Urbana.

Urbana Md
L’HERMITAGE AT BEST FARMS

The Villages of Urbana Neighborhood is a newer neighborhood in Frederick Md that has been built primarily since the 90’s, and is still seeing new homes constructed. Single-family homes, townhouses and condominiums are available, from the following builders: NV Homes, Ryan Homes, Main Street Homes, Parkwood Homes, Advantage Homes.

Villages of Urbana offers many great amenities, including a clubhouse, pools, tennis courts, hiking and biking trails, a new town center with great restaurants and shops, Giant Food, new schools, new state-of-the-art library, and more.

Directions to the Villages of Urbana

Take I-270 to Urbana exit (Rte. 80). Turn left on route 80 to the traffic circle. Proceed to second right onto Sugarloaf Pkwy. Cross over route 355 to Villages of Urbana.

Villages of Urbana Schools

See School Attendance Areas and boundary maps on the FCPS Website.

Nearby Attractions:

  • The Urbana Regional Park has several ball fields, playground and picnic pavilions.
  • Monocacy Battlefield is a 5 minute drive up route 355.
  • Sugarloaf Mountain is minutes away, a beautiful place to hike and picnic.
  • Several Golf and Country Clubs are minutes away: West Winds, Clustered Spires, Holly Hills, P.B. Dye, Worthington Manor, and Whiskey Creek Golf Courses.
  • Like the Villages of Urbana Association Facebook Page for the latest updates.

Villages of Urbana, Frederick Md Real Estate Information Summer 2015:

Market data from the last 3 months, April through June 2015.

Sold Homes in Villages of Urbana in the First Quarter:

• Number of homes sold: 40,
21 single-family, 19 townhouses

• Median Sold Price:   Single-family:  $515,000  Townhouse:  $305,000
• Avg. Asking Price:    Single-family:  $564,100  Townhouse:  $337,300
• Average Sold Price:  Single-family: $550,400   Townhouse:  $330,700
• Average SP/LP ratio (what % of asking price did homes sell for):  Single-family: 98%  Townhouse: 98%
• Average DOM, Days on Market: 49 Single-family: 55  Townhouse:  44

Conclusion: Villages of Urbana is a neighborhood that is in demand.
Prices are accelerating in the Spring of 2015, with a shorter time on market than last year.

Active Homes for sale in Villages of Urbana:

• Number of homes for sale: 55,
23 single-family homes, 32 townhouses
• Average Asking Price:   Single-family:  $585,670  Townhouse:  $418,100
• Median Asking Price:     Single-family:  $549,900  Townhouse:  $367,900

Homes for Sale in the Urbana High School District

Homes for Sale in the Villages of Urbana

Homes Recently Sold in the Villages of Urbana
Read Also:
Frederick County Real Estate Market Reports
For more information on Villages of Urbana or the Urbana housing market, contact Chris Highland at eXp Realty: 301-401-5119 

Sell Your Urbana Neighborhood, Frederick Md Home
Request a no-obligation comprehensive Comparative Market Analysis.

Frederick Md Real Estate Market Update June 2015

Frederick Md Real Estate Market Update June 2015

Frederick Real Estate Statistics June 2015

provided by the Highland Group

Real Estate activity has picked up significantly this summer.  Here is a snapshot of Frederick County real estate statistics:

Real Estate Statistics in Frederick Md

Average Home Sales Price:  $303,100: down ↓ 6% from last June, the same as last month.

  • Average Single-Family Sales Price:  $352,800, down 3% from last year.
  • Average Attached Home Sales Price:  $217,200, down 8% from last year.
  • A greater number of Townhouses sold this year compared to last: 77% more, 177 compared to 100 last June.
  • 42% More single-family homes sold compared to last year: 306 compared to 214.
  • A total of 483 homes sold in June, a huge 54% over last year!

Median Home Sales Price:   $275,000: down ↓ 7% since last June.

Average Days on Market (DOM) the time it takes to get a contract: 62 days, up from last year (47), but lower than the 5 year average for March (69).

Number of Homes Sold:  483, 54% more than last year. There were 440 new pendings (homes that went under contract) 15% more than last June. The demand is certainly picking up. It’s a good time to sell, because buyers are ready to buy.

Total Listings in Frederick Md: 1338, up 9% from 1228 last year. The inventory is increasing to what is usually considered a normal number for Frederick County, but the demand is up, almost twice what it was last year. We’re seeing a seller’s market with a 2 to 3 month absorption rate.

Keep in mind: some neighborhoods, like Urbana, are in high demand, and have lower absorption rates. The communities on the outskirts of Frederick County, Myersville, Thurmont, Woodsboro, are less in demand and homes take a little longer to sell.

Sellers got 96% of list price on average, compared to 96% last year. This number has been fairly steady, and is above the 5-year June average of 95%, indicating a steady market.

A visual presentation of Frederick Real Estate Statistics for June 2015:

Frederick real estate

What’s Notable:

  • *More home buyers are able to afford more, because Interest rates are still historically low. See today’s rates.
  • Sales have started off this summer with a higher demand than last year, we had a higher number of homes go under contract than last year, sometimes “Pending” is a term you may see. The total waiting to close is 749, up 12% from last year.
  • The inventory has increased, which is usual for the season, and is higher than last year, but with increasing demand, it still is considered a seller’s market. We will expect multiple offers on the homes that are in great condition and priced at market… and this will put upward pressure on home prices. Homes that are priced well and in the best condition, and in areas of demand, are sold within a week.
  • Cash deals were 13% of sales. As appreciation is expected, we’re seeing more Investors and flippers in the Frederick market. 47% of loans were with Conventional financing, 26% were FHA. 8% were VA.
  • Owner financing was 1 and we rarely see them these days.
  • The majority of home sales took place in the $200,000 to $300,000 price range. 28%.
  • A larger number of homes sold in the $500,000 and up price range, than we’ve seen in a while (42) which signals that the move-up market is coming back.

June 2014 provided by MRIS (Mid-Atlantic Regional Information System)

*MRIS – Metropolitan Regional Information System – These statistics are not guaranteed but are considered accurate.

Contact Chris Highland to see homes for sale in Frederick Md.


301-401-5119

Frederick County Real Estate Market – April 2015

Frederick County Real Estate Market – April 2015

Frederick County Real Estate Market Snapshot – April 2015

provided by the Highland Group

The real estate market in Frederick was up in demand over last April. Here is a snapshot of Frederick County real estate statistics:

Real Estate Statistics in Frederick Md

Average Home Sales Price:  $282,600: down ↓ 1% from last April.

  • Average Single-Family Sales Price:  $332,100, down 2%
  • Average Attached Home Sales Price:  $215,800, the same as last year.
  • A greater number of Townhouses sold this year compared to last: 9% more
  • More single-family homes sold compared to last year: 13% more*

Median Home Sales Price:   $248,000: down ↓ 3% since last April.

Average Days on Market (DOM) the time it takes to get a contract: 71 days, up from last year (56), but lower than the 5 year average for March (86).

Number of Homes Sold:  289, 11% more than last year. There were 486 new pendings (homes that went under contract) 26% more than last April. The demand is certainly picking up. It’s a good time to sell, because buyers are ready to buy. And the inventory is still relatively low.

Total Listings in Frederick Md: 1161, up 17% from 992 last year. The inventory is increasing, but still too low, considering the demand is up. We’re seeing a seller’s market with a 3 to 4 month absorption rate.

Keep in mind: some neighborhoods, like Urbana, are in high demand, and have lower absorption rates. The communities on the outskirts of Frederick County, Myersville, Thurmont, Woodsboro, Mt. Airy and New Market, are less in demand and homes take a little longer to sell.

Sellers got 96% of list price on average, compared to 96% last year. This number has been fairly steady, and is above the 5-year April average of 94%, indicating a steady market.

A visual presentation of Frederick Real Estate Statistics for April 2015:

Frederick Md Real Estate

What’s Notable:

  • *More home buyers are able to afford more, and there are more move-up buyers in the market. Interest rates are still historically low. See today’s rates.
  • Sales have started off this spring with a higher demand than last year, we had a higher number of homes go under contract than last year, sometimes “Pending” is a term you may see. The total waiting to close is 794, up 17% from last year.
  • The inventory has increased, which is usual for the season, and is higher than last year, but with increasing demand, it still is considered low. If the inventory stays tight, we will expect multiple offers and this will put upward pressure on home prices. Homes that are priced well and in the best condition, and in areas of demand, are sold within a week.
  • Cash deals were 16% of sales. As appreciation is expected, we’re seeing more Investors and flippers in the Frederick market. 41% of loans were with Conventional financing, 28% were FHA. 7% were VA.
  • Owner financing was 0 and we rarely see them these days.
  • The majority of home sales took place in the $200,000 to $300,000 price range. 42%.
  • Only 21 homes sold in the $500,000 and up price range.

March 2014 provided by MRIS (Mid-Atlantic Regional Information System)

*MRIS – Metropolitan Regional Information System – These statistics are not guaranteed but are considered accurate.

Contact Chris Highland to see homes for sale in Frederick Md.


301-401-5119

Frederick Md in Spring

Charles Trail Mansion, 106 E. Church Street in Frederick Md.  The Trail Mansion was built in 1852 by Col Charles E. Trail. It has been a funeral home since 1939.

 

 

Frederick Md Real Estate Outlook 2015

Frederick Md Real Estate Outlook 2015

2015 Real Estate Predictions for Frederick County

Many real estate predictions for 2015 are full of positive notes, both nationally and locally. The housing market in Frederick Md has seen a steady recovery over the last 2 years …and we expect to see a healthy market in 2015. Frederick Md Real Estate Outlook 2015:

Frederick Md Real Estate Trends 2015:

We expect increased sales, as the economy strengthens, and we expect normal moderate price increases throughout the year. Overall, economic indicators in Frederick County are good. Frederick Real Estate Outlook 2015:

  • Several sources report job growth. Frederick’s proximity to Washington D.C. has always been a bit of a shelter from severe economic downturns, as a large number of people commute south for employment. Unemployment in Frederick is low.
  • Nationally, economic indicators like rising consumer confidence, and mild job creation are leading real estate prognosticators to favor a better market in 2015.
  • Rising rents are a predictor of more first time buyers getting into the market. rents have risen to a 7-year high, rising a huge 4.9% over 2014 alone. Many would-be homeowners will most likely decide it’s cheaper for them to buy.
  • Pent-up Demand will probably be unleashed. With average home prices on the rise, more homeowners have been able to put their homes on the market, so the inventory has increased. Buyers will have more choices in 2015.
  • Mortgage rates are predicted to increase in the second half of the year. These predictions are always difficult, so…we’ll see.
  • Fannie Mae just lowered the minimum down payment for first-time buyers to 3%, (from 3.5%) which is great news.

Contact Chris Highland for detailed neighborhood statistics and Frederick real estate expertise.

Frederick Md Real Estate Trends – End of Year 2014

Frederick Md Real Estate Trends – End of Year 2014

Year-End 2014 – Real Estate Trends

The Frederick Md real estate market in 2014 was a different market than we saw in 2013. Home prices inched up, but not at the rate of the previous year. Here are some charts to illustrate the main trends:

Average Home Prices in Frederick County

2014 average home sale prices Frederick Md

For most of 2014, the average price of sold homes in Frederick County held steady with the prices in 2013, but did not really increase significantly. The overall yearly average this year was $292,000 compared to $293,000 last year.

Median Home Prices in Frederick County

Median Home Prices in Frederick Md

The Median home price the number that is right in the middle of all the home prices that sold. The median price for the entire year in 2014 was $262,000, in 2013 it was $265,000. A negligible 1% difference.

Home prices are very steady throughout this year.

Frederick Real Estate Inventory

The number of homes on the market increased throughout this year. During the first quarter the number of homes increased about 25% over the same time in 2013. Throughout the summer the increase reached 44% over last summer. By the end of this year, the inventory is just under 1200, a normal market.

In July and August, the inventory reached 1300, which for the first time in several years, was above the 5-year average. An increase in inventory shows, among other things, that more homeowners are above water and able to put their homes on the market. But inventory is only half of the story, demand is the other half.

Home Sales in Frederick County

Frederick County Home Sales 2014

With the exception of June and July, every month in 2014 had an increase over last year in the number of homes sold. This year a total of 3111 homes sold, in 2013 the number of homes that sold was 2753. An increase of 13%.

Real Estate Trends

Throughout the year, sellers got 95% to 97% of their list price when sold. Last year, the average was about the same. This shows that prices are holding steady. This year, that number was above the 5 year average for the entire year.

Time on the market has also decreased over the year. This year was the first year that the average number of Days on Market was less than the 5 year average. It is taking less time to sell a home.

2014 Overall

 

Last year we saw a turn in the market with larger increases in sales prices and other statistics, much like a market correction. Real Estate sales in 2014 continued to increase in numbers, showing the increased demand that is a good sign, but the increase in sales prices has slowed.  The inventory has increased along with the demand, creating what many refer to as a “normal” market, with absorption rates about 5 or 6 months.

Frederick County Real Estate Market Snapshot October 2014

Frederick County Real Estate Market Snapshot October 2014

Frederick County Real Estate Market Snapshot October 2014

provided by the Highland Group

The real estate market in Frederick continues with a steady demand in October. Here is a snapshot of Frederick County real estate statistics:

Frederick Real Estate Trends for October 2014

Real Estate Statistics in Frederick Md

Average Home Sales Price:  $290,900: almost equal to last October. Also up 3% from September’s average sales price.

  • Average Single-Family Sales Price:  $331,000
  • Average Attached Home Sales Price:  $223,200

Median Home Sales Price:   $259,200: up 1% since last October. Also up 2% from September.

Average Days on Market (DOM): 68 days, higher than last year, still lower than the 5 year average.

Number of Homes Sold:  282, up 18% from last year.

Total Listings in Frederick Md: 1259, up from 989 last October, 27%. The inventory seems to be leveling off, with a balanced market, with a 4 to 5 month inventory.

Newly Under Contract: 308, similar to last year (311).

Sellers got 95% of list price on average, compared to 96% last year. This number has been steady for the year.

What’s Notable:

  • September saw a large number of homes go under contract, sometimes “Pending” is a term you may see. We have a healthy number of 308 new contracts in October. The total waiting to close is 528.
  • The inventory has increased throughout 2014, and is now leveling off, as more people are able to see appreciation over last year.
  • Cash deals were 13% of sales. As appreciation is expected, we’re seeing more Investors and flippers in Frederick. 51% of loans were with Conventional financing, 21% were FHA. (FHA raised fees recently and we can watch them become less relevant in the market)
  • Conventional loans are becoming more affordable. Many loan products are on the market requiring 10% and even 5% down, making them appealing.
  • The majority of home sales take place in the $200,000 to $300,000 price range. 36%.

A Quick Visual Chart of Frederick County Real Estate Market October 2014 provided by MRIS (Mid-Atlantic Regional Information System):

Frederick real estate statistics Oct. 2014

*MRIS – Mid-Atlantic Regional Information System – These statistics are not guaranteed but are considered accurate.

Contact Chris Highland to see homes for sale in Frederick Md.


301-401-5119

Frederick County Real Estate Market Statistics for July 2014

Frederick County Real Estate Market Snapshot July 2014

provided by the Highland Group

We’re seeing the real estate market continue this summer with healthy demand. Here is a snapshot of Frederick County real estate statistics July:

For the visual people, a slideshare:

For those who like statistics:

Frederick Real Estate Trends for July 2014

Average Home Sales Price:  $303,300: down 2% from last July. Down 5% from June.

  • Average Single-Family Sales Price:  $354,900
  • Average Attached Home Sales Price:  $216,500

Median Home Sales Price:   $275,000: down 3% since last July. Down 7% since June.

Average Days on Market (DOM): 50 days, down 9% from last July, up 6% from the previous month of June.

Number of Homes Sold:  303, down 11% from last July (340), down 3% from June.

Total Listings in Frederick Md: 1280, up from 887 last July, 44%.

Newly Under Contract: 362, nearly the same as last July.

Sellers got 97% of list price on average, compared to 96% last July.

What’s Notable:

  • Cash deals were 14% of sales. Investors and flippers are finding a good market in Frederick this summer. 55% of loans were with Conventional financing, 13% were FHA. (As FHA raises fees, they become more irrelevant in the market)
  • The majority of home sales take place in the $200,000 to $300,000 price range. 27%. A second highest, 22% of homes sold were in the $300,000 to $400,000 range.

A Quick Visual Chart provided by MRIS (Mid-Atlantic Regional Information System):