We hope you that will find the following snapshot of Urbana Maryland Real Estate Market & inventory interesting. These charts represent the condition of our local market here in Frederick County Maryland and an easy explanation. .
Let's Begin. .
Something to note right away. . .these charts represent the state of the market YEAR over YEAR for the last 5 YEARS.
Explanation: The first chart depicts the average days you will expect a listing to last when it comes for sale.
What Does It Mean? :As you can see, we are at the lowest areas for the last 5 years. Listings are becoming scarce as more buyers seem to take advantage of the low interest rates
Explanation: The AVERAGE sold PRICE in the last five years vs the Median SOLD PRICE.
What Does It Mean? :As you can see, these two come hand in hand, but the most important factor is that show signs of normalcy. . is the fact that we have slowly progressed in the last 5 years to what we were in 2007
Explanation: The first chart depicts the Median Sold Price and the second shows that Average SOLD price. .what is the difference?
What Does It Mean? :It is just two different ways to find the average SOLD PRICE on homes at any given moment. An average is the sum of all SOLD every year and divided by 5 . . and the median just measure the middle trend without becoming askew in case of an unusual SOLD price that is not representative to the local market.
If you know someone who is considering buying or selling a home in Frederick County or any nearby areas.. please give us a call. We will provide professional & courteous service along with knowledgeable guidance through the process in buying or selling real estate.
Frederick County MD Real Estate
Herboso & Associates LLC
Our real estate knowledge is always up-to-date. For expertise you can depend us, call us when you have questions about the market or are ready to make a significant move. . .Quality representation is not expensive, its priceless!
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