Brookeville, MD: 18 homes sold during the 2nd quarter of 2012. 17 of which had an average sold price of $478,288 after an average of 43 days on the market. I left 1 sale out of the equation since it was a "the value is in the land"-listing with a tear-down property.
The 2nd quarter average close price is less than the 1st quarter's as well the average during the same time frame a year ago.
However, price fluctuations are not unusual in Brookeville, MD, depending on how many 1 Million Dollar+ homes sold. If you have a comparably small number of home sales - Brookeville, MD is a quaint community - just one can make a big difference in average close price. During the 1st quarter of 2012 the highest sales price was $710,000 compared to $1,175,000 in 2010.
The average sold price during the 2nd quarter of 2012 is considerably less than the average list price of currently active homes which is in the mid-700s. What does that indicate? Although it's usually slim pickings for homes priced less than 500K, those are the ones that are selling.
Move-up buyers - the main target group for Brookeville sellers - are just not out in droves. The market needs to recover more and prices need to increase so that all those home owners who would like to move up will regain the equity to do so. The signs in the lower price brackets are encouraging at this point in time - inventory is getting low and well-priced homes that also show nicely do sell (quickly) and sometimes even attract multiple offers.
Thus, if you have a Brookeville, MD home to sell below 500K, your chances are good. Home sellers above the magic threshold need, above all, one thing - patience! There's more competition for a smaller pool of buyers in the higher price-ranges.
Stand out from the crowd, present well, price well and be patient. Please call if you would like some help with that or are considering buying in the Brookeville, MD area!
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