Frederick County Maryland
Frederick County Maryland Real Estate Report & Homes For Sale
We hope you that will find the following snapshot of local 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.
Explanation: The orange line shows the number of properties that came into contract between a buyer and a seller.
What Does It Mean? :
The separation of these two stats are very easy to explain between 2007 and 2012. A lot of properties that are in contracts between buyers and sellers are short sales, Short Sales have becoming the symbol of instability inside our markets. Not ALL SHORT SALES close and it shows clearly as short sales became more popular the last 5 years.. 2012 shows clearly we are still a long way to correct this problem.
Explanation: This chart shows the number of contracts agreed between buyers and sellers .
What Does It Mean? :As you can see, the trend continues and it shows only the fact that short sales are accumulating and it is not Representative of ANY INCREASE IN SALES as several market reports in the country shows. .including from our own Realtor Association. Reality is that this does not depict the state of the real estate market. . .it only shows the poor state of short sales negotiations with the lenders that seem to drag for long periods of time.
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.
Herboso & Associates LLC