Frederick Real Estate Recovery 2013

This year, 2013, has been a year of real estate recovery in Frederick Md. We've seen an uptick in all of the real estate statistics:

+ An increase in average and median sales price in the single digits, in most neighborhoods.

+ We've seen an increase in the number of homes sold. We're happy to see sales at the levels we saw before the real estate bust.

+ We've seen a leveling off of the homes in the higher price ranges. They are not showing much appreciation, but they are not declining either.

+ We've had a decrease in the number of short sales on the market. At the highest level they were 30% of the sales each month, now they are less than 10%.

+ Unemployment is down in the region.

+ First time buyers as well as move up buyers are active.

The Forecast for 2014...

We expect a healthy spring market as more first time buyers enter the market, more move up buyers are able to sell, and buy, and people continue to see home values rise. 

We have  been saying that short sales will still be with us for a while, and we are still seeing them trickle on to the market.

Anecdotally, we have recently seen an increase in inquiries from homeowners who have gone through bankruptcy and they have been told by the bankruptcy judge to short sell their home.