Mount Airy and New Market Real Estate Market Report: October 2008
The Real Estate Market Statistics are out for Frederick County, and there have been some ups and some downs.
Unfortunately, Mount Airy didn't have a boom last month:
2008 2007 Change
Total Sold $ Volume: $5,702,400 $9,428,400 -40%
Average Sold Price: 380,160 471,320 -19%
Median Sold Price: 343,000 447,500 -23%
Total Units Sold: 15 20 - 25%
Avg. Days on Market: 94 105 -10.5%
Avg. Sale price as % of list price 92% 95%
New Market Statistics:
2008 2007 Change
Total Sold $ Volume: $3,315,400 $3,905,800 -15%
Average Sold Price: 331,540 355,073 -7%
Median Sold Price: 299,000 350,000 -14%
Total Units Sold: 10 11 -9%
Avg. Days on Market (wow) 250 112 +123
Avg. sale price as % of list price: 91.5% 93%
*notes* When you see that the median sold price has decreased more than the average sold price, more buyers are buying in the lower half of the housing market than the upper half. That tells me more first-time buyers and buyers moving up for the first time are buying than the luxury home buyers. That's what we've seen this month in Mount Airy and New Market. If you compare the stats to last month, you can see that there was a definite end of summer burst of activity. I think we also saw all of the radically reduced-price homes snapped up.
See county-wide statistics at Frederick County Real Estate Market Statistics, Oct. 2008
The Highland Real Estate Group
Chris & Karen Highland
Frederick County MD Real Estate Agents
Specializing in Frederick County Real Estate
301-831-9947
Real Estate Teams, LLC
isell4u2@msn.com
Pictures of Frederick
Comment Notification
Subscribe to this post's comments using
Comments
Leave a Comment
About Chris & Karen Highland
We’re Chris and Karen Highland, The Highland Real Estate Group. We’ve lived in the Frederick area for over 18 years and are raising our 4 children here. We’ve seen many communities built where there once was farmland. We love the “small-city yet large-town” atmosphere of Frederick, the quality of life, and the affordability we’ve found here.
I've been selling real estate in Central Maryland for almost 16 years. Karen has been helping me over the years in different capacities, as an assistant, then as a buyer’s agent. For a year, I managed an office and Karen took over the bulk of the business. It was a great experience for both of us. I managed 90+ agents and saw more contracts come over my desk than the previous 14 years combined!
Now I'm back, running the business and Karen is running the office, and blogging and marketing. With each new year comes a different kind of market and new challenges.
In this present market, we face many challenges with mortgage problems, distressed properties and the credit crunch. I've gotten a nationally recognized certification , CDPE, Certified Distressed Properties Expert, to equip me to help homeowners in distress. I'll be blogging about a lot of these issues and about all kinds of real estate topics.
Karen and I always have something to say! Join us in our online, ongoing conversation about Frederick Real Estate