Mount Airy and New Market Real Estate Market Report: October 2008

Published 13 November 08 07:01 PM | Chris & Karen Highland 

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


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# Frederick County Real Estate Information said on December 10, 2008 8:43 PM:

Mount Airy Real Estate Market Statistics for November 2008: 2008 2007 Change Total Sold $ Volume: $2,635,000

# Frederick County Real Estate Information said on December 10, 2008 8:51 PM:

New Market Real Estate Market Reports for November 2008: Two houses sold in New Market in November, 2008.

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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