Frederick Real Estate Report December 2013

Provided by the Highland Group. Real estate sales are steady at the end of the year… Here is a snapshot of Frederick County real estate statistics in December:

County-wide   2013  2012% Change
Avg. Price   $292,000 $277,200       +5%  ↑
    Month-Over-Month   $292,000 $286,400 (Nov)       +2%  ↑
Median Price   $238,500 $265,000        -10%   ↓↓
    Month-Over-Month   $238,500 $255,200 (Nov)        -7%    ↓
DOM        49       83        -41%   ↓↓
# homes sold       244       221        +10%   ↑↑
    Month-Over-Month       244       216 (Nov)         +13%  ↑↑
Total Listings       790       658        +20%  ↑↑
Inventory     2 – 3 mos.      4 mos.          ↓
New Pending Sales      198      203        -2 %
Sale Price as
% of List Price
      95%        94%             ↑


What’s Notable:

  • Cash deals were 17% of sales, higher than the normal 7 – 9%.
  • Average and Median prices are gradually increasing, what we want to see in a healthy market.
  • The inventory is still very low, compared to a normal number of 1200-1400. Demand is still healthy, even for winter.
  • The Days on Market, or DOM, gives more evidence to the increase in demand coupled with low inventory.
  • Homes that are priced well, in good condition, will sell in a matter of weeks in today’s market.

For a historical view of home prices:

Frederick Md Real Estate

Frederick Md Real Estate

 

*MRIS – Metropolitan Regional Information System – These statistics are not guaranteed but are considered accurate.