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 activity. 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.
- 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.