A Historical view of the Frederick Md Real Estate Market
To understand current values and trends in the local Frederick Real Estate market, it’s very helpful to take a look at the last 5 years to see what the real trends are and just what they mean.
Comparing Closed Sales and Pending Sales
Notes: The cyclical, seasonal nature of real estate sales continues, no matter what kind of market we are in. The years 2009 and 2010 were most likely higher in sales due to the First-Time Home Buyers Tax Credit.
Notes: Notice how in the last 2 years, the number of Pending sales (those that are under contract) is significantly higher than the number of closed sales, compared to the years 2006 to 2009. We have a higher number of contracts that never make it to settlement, mostly because of distressed sales, ie. short sales and foreclosures. Several months this year, as many as 25% of pending sales never made it to closing because of Appraisal issues.* [NAR stat].
Average and Median Sales Prices for Frederick Real Estate
Average and Median home prices in Frederick County Maryland have decreased by double digit percentages from 2006 to 2008. From 2009 to present, prices have decreased by less than 5% per year. We definitely see the trend is stabilization.
Frederick Real Estate Inventory
When inventory is significantly higher we saw a buyer’s market, now we are seeing a much more balanced market. The Frederick Real Estate Market is relatively stable, remember: All Real Estate is Local.
The Highland Group
Frederick, Md 21704