Housing Report, Frederick County, MD, December Summary
There are 792 active listings of homes for sale in Frederick County, Maryland. 68 (8.59%) of the available properties are lender owned foreclosures (REO). 71 (8.96%) of the active listings are short sale pre-foreclosures. Short sale transactions require the approval of the secured mortgage lenders since the anticipated proceeds from a sale will not fully satisfy the outstanding mortgage obligations.
During the month of December, 2013, the total sold dollar volume of residential properties in Frederick County, MD was $71,237,420, up 16.3% from the same month of the previous year. There were 244 closed sales, up 10.41%, with a median sold price of $238,500, down 10%. The average sold price was $291,957, up 5.34%, with an average of 49 days on the market. The average sold to original list price ratio was 95.83%.
Home buyers need to know that the statistics for specific neighbors may be different from the overall county figures. We recommend the use of an exclusive buyer agent that really knows the current market conditions. Purchasers that plan to use mortgage financing should obtain a pre-approval letter from the mortgage lender as one of the initial steps in the home purchase process.
Chrysanthemum, Brookside Gardens IMG_1893
Photograph by Roy Kelley
Roy and Dolores Kelley Photographs
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