Frederick County, MD Real Estate Market Statistics, March, 2013
There are 708 active listings of homes for sale in Frederick County, Maryland. 26 (3.67%) of the available properties are lender owned foreclosures (REO). 64 (9.04%) of the active listings are short sale pre-foreclosures. Short sale transactions must be approved by the secured mortgage lenders since the proceeds of a sale would not fully cover the existing mortgage obligations.
During March, 2013, the total sold dollar volume of residential properties in Frederick County, MD was $61,397,744, up 14.31% from the same month last year. There were 221 closed home sales during the month, up 7.28%. The median sold price was $242,500, up 6.59% and the average sold price was $277,818, up 6.55%. The average days on the market (DOM) was 77 and the average sold to original list price ratio was 94.97%.
The Frederick County market is strong and is expected to gain strength during the coming months as home buyers take advantage of the very low mortgage interest rates. Home buyers need to be well prepared for multiple contract competition in preferred areas. Those that plan to use mortgage financing should obtain a pre-approval letter from their mortgage lender as one of the initial steps in the home purchase process.
Residents of Montgomery County are attracted to the lower home prices in Frederick County. During March, the average sold price was $484,775 in Montgomery County as compared to the average sold price of $277,818 in Frederick County.
We are always willing to suggest names of mortgage loan officers, home inspectors and title companies. Please contact us for market conditions in neighborhoods of interest.
Kentlands, Spring Flowers IMG_9513
Photograph by Roy Kelley using a Canon PowerShot G11 camera.
Roy and Dolores Kelley Photographs