Real Estate Marketing Specialists

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

Summary
Frederick County Real Estate Market Snapshot October 2014
Article Name
Frederick County Real Estate Market Snapshot October 2014
Description
Frederick County Real Estate Market October 2014, Average and median sales prices are up, time on market is a bit longer, and new contracts are up.
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