frederick county maryland real estate: FEBRUARY 2024 MARYLAND Housing Statistics
- 03/21/24 12:02 PM
So far this year limited inventory and strong buyer demand have created many multiple-offer situations. As the spring market kicks into gear we expect to see an increase in the number of new resale listings coming into the market, although it is still below normal. Additionally, with an increase in new listings comes an increase in new buyers ready to purchase.
As we navigate the impending changes in the real estate industry. We understand that changes can be concerning to many, but please know that we are here as a trusted source to help navigate these changes effectively. Whether you're … (4 comments)
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frederick county maryland real estate: January 2024 MARYLAND Housing Statistics
- 03/02/24 09:41 AM
The spring market promises to be a strong one, with the dip in interest rates and overall economic strength, the climate is the brightest it has been in the past few years for those considering buying, selling, investing, or downsizing.
While the number of transactions is below seasonal levels, the low number of new resale listings coming on the market is creating a shortage of available properties in many price ranges in our market area. Pending and sold numbers are down and with the low supply of inventory and the buyer demand in the more affordable and mid-price ranges, home prices are heading … (4 comments)
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frederick county maryland real estate: MARYLAND Annual 2023 Housing Statistics
- 01/23/24 09:35 AM
Hesitant to trade a low-interest rate for a higher one had many would-be sellers sitting on the sidelines for the past year. This was the primary reason for the low, but resilient housing inventory and continued strong demand from buyers. Many of the industry experts are predicting inventory to ease up in 2024 as interest rates level off in the 6.5% to 6% range. This should make many Sellers who have been pondering a move to jump into the market. 2023 was a year of both challenges and opportunities and we would like to express our gratitude for our valued client's continued … (5 comments)
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frederick county maryland real estate: NOVEMBER 2023 MARYLAND Housing Statistics
- 12/27/23 11:45 AM
Prices remain high in our region because demand for homes continues to outpace the supply. Many first-time home buyers have been shut out of the market with mortgage rates that have more than doubled in the past two years increasing from around 3.1 percent to about 7 percent, making it that much pricier to purchase a home. However, the markets are currently obsessed with inflation and the future course of monetary policy. Therefore any news that reinforces the notion that inflation is subsiding and the Fed is done raising interest rates and they begin to fall is being received positively. The holiday season housing … (9 comments)
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frederick county maryland real estate: OCTOBER 2023 MARYLAND Housing Statistics
- 11/16/23 09:55 AM
As we enter the holiday season the housing market is feeling the affects of a normal seasonal cycle with fewer transactions. Inventory remains in short supply as many home owners with sub 4% mortgages are delaying a move. Higher home interest rates have caused Buyer activity to cool down as many have hit an affordability ceiling. It is anticipated prices will continue to increase through next year in many areas and neighborhoods where fewer homes are available and strong buyer activity is present in the affordable and mid-price ranges. Qualified buyers that think waiting for a lower interest rate environment is … (4 comments)
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frederick county maryland real estate: Maryland Housing Statistics ~ September 2023
- 10/22/23 04:17 PM
Frederick County, MD
Industry Watch Q3-2023
Key Metrics Q3-2023 1-Year Change Market Activity
Median Sales Price $475,000 + 5.6%
Avg. Sales Price $505,787 + 3.9%
Closed Sales 1,001 - 27.5%
Months Supply 1.2 - 33.3%
Avg. Prop. Mktg. Period 42 + 38.8%
Pct. of Orig. Price Received 101.3% + 0.9%
Homes for Sale 388 - 49.7%
We are experiencing a market with limited inventory creating a shortage of available properties in many price ranges in our region. Pending and sold numbers are down which … (7 comments)
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frederick county maryland real estate: 627 GRANT PL, FREDERICK, MD
- 09/15/23 10:31 AM
627 GRANT PLACE, FREDERICK, MD
This renovated 3 bedroom, 2 full bath all-brick ranch is located on a double city lot, nearly 1/2 acre, a large yard, and an alley in the rear. Recent renovations include refinished gleaming hardwood floors, a new roof, new windows, a new exterior HVAC compressor, a remodeled kitchen with new stainless steel appliances, granite counters, and a new concrete patio off the kitchen that overlooks the large yard.
The living room includes a brick fireplace, and the dining room has two built-in corner curio cabinets. This home features a popular split bedroom plan with the owner's … (8 comments)
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frederick county maryland real estate: JUNE 2023 Maryland Housing Statistics
- 07/24/23 08:15 AM
Maryland Home Sales Continue to Fall Across All Counties As Sales Prices Continue Their Rise in the June 2023 Maryland REALTOR® Housing Stats ANNAPOLIS, MD—July 19, 2023—Home sales in Maryland dropped substantially by 21.7% to 6,938 units in June 2023 against June 2022 sales of 8,857, according to the June 2023 Maryland REALTORS® Housing Statistics. Prices continued their climb, with the average sales price rising 2.9% to $501,346 versus last year’s figure of $487,085. The median sales price rose 1.3% to $415,148. Units pending (houses under contract) dropped 11.7% to 6,854 from 7,758 units in June 2022. Fewer houses under contract reflects the lack of … (6 comments)
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frederick county maryland real estate: Strategies to win a bidding war
- 06/10/23 06:18 AM
Right now pre-owned home inventory for active listings is at historically low levels causing housing frenzy spikes. Inventory challenges equal competition for homes that are desirable and priced appropriately. To help buyers put their best foot forward on the next home offer here are a few strategies for winning a bidding war in today's market.
Offer a seller post-occupancy / rent back agreement
Buyers I represented recently won a multi-offer situation by offering a 30 day post-occupancy with a 30 day option to extend to sellers who were having a new home built. Most lenders will allow a buyer to offer a 30 … (34 comments)
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frederick county maryland real estate: JULY 2023 Maryland Housing Statistics
- 05/25/23 07:51 AM
Maryland’s Ongoing Lack of Housing Inventory Amidst Rising Prices Remains the Prominent Focus in the July 2023 Maryland REALTORS® Housing Stats ANNAPOLIS, MD—August 17, 2023—The number of home sales in Maryland continued to decline in the July 2023 Maryland REALTORS® Housing Statistics report, dropping 22.6% to 5,915 units versus July 2022’s figure of 7,643 units. The average sales price grew by 3.2% to $486,385, while the median sales price rose 4% to $414,900. As in months past, July’s housing statistics point to a market with low inventory and fewer sales amidst steadily increasing prices, which is further … (3 comments)
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frederick county maryland real estate: Premier Penthouse at Fairfield ~ Frederick, Md ~ SOLD
- 05/12/23 04:32 AM
104 MERCER CT # 15-8, FREDERICK, MD. 21701 The Premier penthouse at Fairfield includes 2 bedrooms, 2 1/2 bathrooms. You will be on top of the world with two large terraces with a sunrise view over Baker Park to the east and a sunset view behind the Catoctin Mountains to the west.
This completely remodeled condo includes a designer gourmet kitchen with a center island, antique granite counters, top of the line stainless steel appliances, a large great room with an electric fireplace, a vaulted ceiling, and a formal dining room with terrace access. Impressive porcelain flooring throughout. Library/study … (7 comments)
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frederick county maryland real estate: March 2023 Maryland Housing Statistics
- 04/21/23 07:19 AM
Maryland Home Sales Continue to Fall in the March 2023 Maryland REALTOR® Housing Stats ANNAPOLIS, MD—April 13, 2023—Home sales in Maryland dropped 27.4% to 5,709 units in March 2023, according to the latest Maryland REALTORS® Housing Statistics Report. The average sales price grew just 0.7% to $444,752, while median sales price increased 1.2% to $380,000. Further signs of a softening market can be seen in Units Pending (homes under contract), which fell 22% to 6,804. Active Inventory dropped 8.6% to 7,445 units, while the number of new listings entering the market dropped by 34% to 6,855. All three indicators—Units Pending, … (5 comments)
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frederick county maryland real estate: The land mine in the back yard
- 03/23/23 05:09 AM
Early in 2021, a young couple with three young boys looking for their first home was referred to me by a friend. They were living in their parent's small apartment in the Washington DC suburbs. The market had very limited inventory for entry-level purchasers as we were coming out of the Covid-19 pandemic period. We toured a number of properties throughout January and February many of which went under contract before the couple could decide if the home was right for their family. In mid-March a single family on a nice corner lot with a yard ideal for the boys to … (16 comments)
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frederick county maryland real estate: FEBRUARY 2023 ~ MARYLAND HOUSING STATISTICS
- 03/19/23 06:32 AM
Maryland Home Sales Continue to Drop Amidst Signs of Improvement in theFebruary 2023 Maryland REALTOR® Housing Stats ANNAPOLIS, MD—March 16, 2023—Maryland home sales dropped 27.9% to 4,268 units in February 2023 against 2022’s figure of 5,923 units, according to the latest Maryland REALTORS® Housing Statistics Report. The average sales price rose 3.7% to $432,529, while the median sales price increased 4.2% to $375,000, continuing the trend of rising prices amidst a shortage of homes on the market. There are some encouraging signs, however. Two months into 2023 has shown an improvement over sales from December 2022. While the number of units sold is down, the … (6 comments)
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frederick county maryland real estate: CA$H IS STILL KING 💰👑
- 02/16/23 09:31 AM
According to a recent Washington Post article in 2022 nearly a third of homes purchased last year in this country were cash transactions. An 8% increase from 2021 and the highest since 2014. The number of cash buyers has more than doubled since 2017. Frederick Maryland saw the highest increase in the rate of all-cash buyers. In Frederick and Montgomery Counties in Maryland, nearly 2 of every 5 homes sold were as all-cash purchases last year. The purchaser who brought the offer with the least contingencies in many of the transactions where I represented either the buyers or sellers was accepted … (32 comments)
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frederick county maryland real estate: JANUARY 2023 ~ MARYLAND HOUSING STATISTICS
- 02/15/23 05:14 AM
Maryland Home Sales Fell 37.7% According to theJanuary 2023 Maryland REALTORS® Housing Statistics Report ANNAPOLIS, MD—February 13, 2023—Maryland home sales dropped 37.7% to 3,681 units in January 2023 against 2022’s figure of 5,907 units, according to the latest Maryland REALTORS® Housing Statistics Report. The average sales price rose 2.3% to $419,587, while the median sales price increased 1.6% to $360,000. While sales are down overall—pending sales decreased 16.46% to 5,332 units, active inventory decreased 1.62% to 7,793 units, and new listings decreased 10.16% to 5,845 units—the decrease in January was not as dramatic as the previous three months’ decreases. According to Yolanda Muckle, … (8 comments)
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frederick county maryland real estate: MARYLAND Annual 2022 Housing Statistics
- 01/20/23 03:39 AM
Maryland REALTORS® Releases 2022 Year-End Housing Statistics
In 2022, Maryland’s home sales fell 21.2% to 84,658 units, versus 2021’s figure of 107,407, while the average sales price rose 6.3% to 453,759 and the median sales price rose 6.5% to $385,000. For most of this year, Marylanders witnessed home sales falling as sales prices climbed less and less. Other signs that point to a slowdown in 2022 include a drop in Units Pending—houses under contract—to 82,199, a 22.3% decline from 2021’s figure of 105,728. The number of New Listings fell 16.7% to 101,860. “While 2022 wasn’t a picnic, homes are continuing to retain their value … (15 comments)
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frederick county maryland real estate: DECEMBER ~2022 ~ MARYLAND Housing Statistics
- 01/18/23 09:38 AM
Maryland Home Sales Fell 41.9% in December 2022 and 21.2% for the Year,According to the latest Maryland REALTORS® Housing Statistics Report
ANNAPOLIS, MD—January 17, 2023—Maryland home sales dropped 41.9% to 5,124 units in December 2022, against 2021’s figure of 8,818 units, according to the latest Maryland REALTORS® Housing Statistics Report. Home sales prices rose incrementally, with the average sales price rising 0.2% to $433,018 and the median sales price rising similarly, 0.3% to $370,250. In addition to unit sales and prices, all other indicators point to a year-end market slowdown. Pending sales—houses under contract—fell 27% to 4,218. Active Inventory—homes available for sale—slipped 9.7% … (3 comments)
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frederick county maryland real estate: NOVEMBER ~2022 ~ MARYLAND Housing Statistics
- 12/15/22 12:23 PM
Sales Continue to Fall While Prices Continue to Rise ~ Marylander's Need Housing Relief ANNAPOLIS, MD—December 15, 2022—Maryland home sales fell to 5,201 units in November, a 40.5% decrease from 2021’s figure of 8,748 in the latest Maryland REALTORS® Housing Statistics Report. Home sales prices continued to climb, with the average sales price rising 3.1% to $444,246 and the median sales price rising 4.2% to $375,000. In addition to home sales, pending sales—houses under contract—dropped 35.3% in November. Active inventory dropped 10% to 9,754 units. Last year, homes were on market for an average of 9 days; this year days on market … (2 comments)
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frederick county maryland real estate: Investor ALERT ~ 4 Unit Historic Dist ~ Frederick , MD ~ SOLD
- 12/13/22 10:24 AM
314 - 316 W, Patrick Street, Frederick, Md. Located in Frederick's Historic district a block from Baker park these well maintained row houses include 4 units zoned DB, (DOWNTOWN BUSINESS), with 2 lower level commercial units and 2 upper level residential 1 BR apartments. separately metered and each unit has its own entrance. Ample off-street parking in the rear for 8 to 10 cars. Perfect for a live / work situation or great investor opportunity. Call for more details. 24 hour notice is required for an appointment to see.
… (5 comments)
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