Washington County, MD Real Estate Market Statistics, January, 2013
There are 576 active listings of homes for sale in Washington County, Maryland. 90 (15.63%) of the available homes are offered as short sale pre-foreclosures. Short sale transactions require the approval of the secured mortgage lenders because the proceeds of the sale will not fully cover the amount that is owed on the mortgages. 26 (4.51%) of the available properties are lender owned foreclosures (REO). Many REO properties have deferred maintenance issues or repair needs.
Now, let's take a look at the January statistics to see how they compare with the current inventory of home for sale. During January, the total sold dollar volume of residential transactions in Washington County, MD was $9,382,190, down 19.66% from the same month in the previous year. There were 66 closed sales, down 8.33%, with a median sold price of $135,500, up 6.27%. The average sold price was $142,154, down 12.36% with and average of 99 days on the market, down 24.43%. The average sold to original list price ratio was 92.76%, up 5.83%.
The real estate market in Washington County still favors home buyers and it is still an excellent time to take advantage of the very low mortgage interest rates. Many families are considering a move to Washington County for the affordable prices. In January, the average price in Montgomery County was $451,677 and $264,552 in Frederick County.
Prospective purchasers that plan to use mortgage financing should obtain a pre-approval letter for their mortgage lender as one of the initial steps in the home purchase process. We are always available to suggest names of loan officers.
Dahlia, Brookside Gardens, Imagination IMG_7425 A
Photograph by Roy Kelley using a Canon PowerShot G11 camera.
Roy and Dolores Kelley Photographs
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