The July 2012 market statistics are looking very good for Brookeville, MD with 12 sold properties. In comparison 18 home sales were reported during the 2nd quarter of this year, only 6 homes sold during June 2012 and 8 during July of 2011. The average days on market has stayed about the same and stands at 43 DOMM and 75 DOMP (days on market property)*.
July's sales ranged in price from 370K to 850K and had an average sales price of $575,392 which is considerably higher than the average sales price during the 2nd quarter of this year and also slightly above the average sales price during the first quarter of 2012.
Currently, there are 41 homes listed for sale in Brookeville, MD, 3 of which were added in July, with an average list price of $793,993.
The increased sales activity of July has a very positive impact on the current absorption rate which is only 3.4 months. That means it would take less than 3 1/2 months to sell all active listings if July's sales pace were to continue and no new listings were being added. An absorption rate between 3 and 6 months indicates a balanced market and below 3 month a seller's market.
* the difference between the two can be significant. DOMM tracks the MLS number and DOMP the actual property - if a property was listed, withdrawn and then relisted with a new MLS number the Days On Market is reset to 0.
Please contact me if you have any questions about the Brookeville, MD Real Estate market or are thinking about selling or buying a Brookeville home.
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