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
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The Highland Group
Chris & Karen Highland * 301-831-9947
Turning Point Real Estate – 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119
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