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 advantageous might be surprised to learn that waiting actually has a very strong chance of costing them much more over the long-term as home prices continue to increase. If you ... 11/16/2023

 Frederick County, MDIndustry Watch Q3-2023Key Metrics                     Q3-2023              1-Year Change Market ActivityMedian 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 is m... 10/22/2023

There is still a scarcity of supply in the Mid-Atlantic region. but the gap from 2022 levels has narrowed with new listings down just 7.8% from this time last year. In typical years, there is a significant decrease in listings throughout August, but this year, listings have stayed far steadier. Labor Day weekend did not slow down listing activity with the number of new listings up 2.6% from a week earlier. The median list price reported by Bright MLS made a jump for the week ending September 3rd, it was $395,000, a 2.6% increase. The list price is also up 5.3% from last year.  Contracts were down only slightly. While new contracts were down 16.5% from last year, the week-over-week decrease into the holiday weekend, down 3.2%, is far less than in recent years at this time. With mortgage ... 09/23/2023

          627 GRANT PLACE, FREDERICK, MDThis 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 suite and full bath on one side and two bedrooms and full bath on the other end of the living room. You will find lots of space for storage and room to expand in the unfinishe... 09/15/2023

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 exemplified by a drop in units pending (houses under contract) of 8.2% to 6,560 units and a 34.4% drop in the number of new listings, down to 6,491 units.   “We’re seeing... 08/24/2023

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 inventory, which further exacerbates the number of homes sold in the state. Leading indicators are also reflecting the slowdown, as th... 07/24/2023

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 agreementBuyers 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 to 60 day rent back agreement to the current owner of the property. This type of arrangement gives the sellers more time to find a property, have a house built , pack, or finish out ... 06/14/2023

Today’s View –  May 28, 2023 – New Market, Md. 21774 – Detached HomesThis is a market report for existing detached homes in New Market, Md. 21774. At the time of this report (5/28/2023) 12 such homes are on the market FOR SALE, another 31 are currently under contract, and 17 have successfully completed the sales process in the last 30 days.  Of the currently active, 1 came to market in the last 7 days.  There are none that have a status of coming soon.  Three Bedroom HomesThere are 5 three-bedroom detached homes in New Market that are currently on the market for sale.  The current list price of these homes ranges from $560,000 to $1,500,000; with the median being $640,000.   The days on market for this set of homes goes from over 3 weeks (25 days) to approaching 2 years (700 days); with... 05/28/2023

Is the market active? You be the judge.We all have heard stories/reports on how the real estate market is doing. We read them in print; view them on the web, hear them on the radio, listen to them on podcasts, and watch them on the TV. Most of these reports are on either the National, State, or County levels. I believe real estate conditions are most relevant at the local level. These other reports cover both a wide area (National, Region, State, or County) and several property types (detached, townhouses, unit-flats). Here is my view for detached homes in the Mount Airy, Monrovia, New Market, and Ijamsville Md. zip codes, not including new construction.As of May 28, 2023 there are 38 such homes currently on the market for sale, 16 (42 percent) of which were added just this last week. T... 05/28/2023

We all have heard stories/reports on how the real estate market is doing. We read them in print; view them on the web, hear them on the radio, listen to them on podcasts, and watch them on the TV. Most of these reports are on either the National, State, or County levels. I believe real estate conditions are most relevant at the local level. These other reports cover both a wide area (National, Region, State, or County) and several property types (detached, townhouses, unit-flats). Here is my view for townhouse market in the Mount Airy, Monrovia, New Market, and Ijamsville Md. zip codes, not including new construction.As of May 28, 2023 there are four such homes currently on the market for sale, one (25 percent) of which were added just this last week. There are eight townhouses under so... 05/28/2023

Today’s View –  May 23, 2023 – Mt. Airy, Md. 21771 – Detached HomesThis is a market report for detached homes in Mt. Airy, Md. 21771.  At the time of this report (5/23/23) there are 10 detached homes on the market FOR SALE, 37 that are currently under contract, and 21 that has successfully completed the sales process in the last 30 days. Clearly a seller’s market. There is at this time another 12 detached home have a status of Coming-Soon.  While the minimum lot size is .08 acres and the max is 80.18 acres, the median is 1.06 acres.Of the 83 homes covered in this report 43 have a two car garage and 16 come with none. Two Bedroom HomesThere is 1 two-bedroom detached home in Mount Airy currently on the market for sale. This home is currently listed for $50,000 after being on the market fo... 05/23/2023

We all have heard stories/reports on how the real estate market is doing. We read them in print; view them on the web, hear them on the radio, listen to them on podcasts, and watch them on the TV. Most of these reports are on either the National, State, or County levels. I believe real estate conditions are most relevant at the local level. These other reports cover both a wide area (National, Region, State, or County) and several property types (detached, townhouses, unit-flats). Here is my view for townhouse market in the Mount Airy, Monrovia, New Market, and Ijamsville Md. zip codes, not including new construction.As of May 21, 2023 there are three such homes currently on the market for sale, one (33 percent) of which were added just this last week. There are 14 townhouses under some... 05/22/2023

Is the market active? You be the judge.We all have heard stories/reports on how the real estate market is doing. We read them in print; view them on the web, hear them on the radio, listen to them on podcasts, and watch them on the TV. Most of these reports are on either the National, State, or County levels. I believe real estate conditions are most relevant at the local level. These other reports cover both a wide area (National, Region, State, or County) and several property types (detached, townhouses, unit-flats). Here is my view for detached homes in the Mount Airy, Monrovia, New Market, and Ijamsville Md. zip codes, not including new construction.As of May 21, 2023 there are 33 such homes currently on the market for sale, 9 (27 percent) of which were added just this last week. Th... 05/22/2023

Today’s View –  May 15, 2023 – Mt. Airy, Md. 21771 – TownhousesThis is a market report for townhouses in Mt. Airy, Md. 21771.  At the time of this report May 15, 2023, one townhouse is on the market FOR SALE, 5 that are currently under contract, and one that has successfully completed the sales process in the last 30 days. Clearly a seller’s market.There is at this time one two-bedroom townhouse with a status of Coming-Soon.   Two Bedroom HomesThere are no two-bedroom townhouses in Mount Airy currently on the market for sale. There is one two-bedroom townhouse currently under contact in Mount Airy.  The last known list price of this home is $305,000 after being on the market for approaching 1 week (5 days).There are no two-bedroom townhouse that have successfully completed the sales pro... 05/15/2023

Maryland REALTOR® Housing Stats for April 2023:Sales Continue Their Fall as Prices Rise Slightly   ANNAPOLIS, MD—May 15, 2023—Home sales in Maryland dropped 33.8% year over year to 5,456 units in April 2023, according to the latest Maryland REALTORS® Housing Statistics Report.  The average sales price grew 0.8% to $467,986, while median sales price increased 1.7% to $396,500. The primary reason for the rise in prices, despite the activity slowdown, remains a lack of inventory, which is hovering around one month’s supply. In a balanced market. 6 months of inventory is considered a balanced market. While Units Pending (homes under contract) is down 21.0% to 6,857 units and Active Inventory down 20.0% to 7,482 units, Median Days on Market has averaged seven days, versus six days in 2022.  ... 05/15/2023

Today’s View – May 14, 2023 – New Market, Md. 21774 – Townhouses This is a market report for existing townhouses in New Market, Md. 21774.  At the time of this report (5/14/23) two such homes are on the market FOR SALE, seven are currently under contract, and twp have completed the sales process in the last 30 days.In the last week; no townhouses were added to the market, two went under contract, and none successfully completed the sales process.  This is clearly a seller’s market. Three Bedrooms HomesThere are two three-bedroom existing townhouses in New Market currently on the market for sale.  The current list price of these homes being $515,000 after being on the market for four days and $539,900 after being on the market for approaching two months (53 days).There are five three-bed... 05/14/2023

The market is moving!We all have heard stories/reports on how the real estate market is doing. We read them in print; view them on the web, hear them on the radio, listen to them on podcasts, and watch them on the TV. Most of these reports are on either the National, State, or County levels. I believe real estate conditions are most relevant at the local level. These other reports cover both a wide area (National, Region, State, or County) and several property types (detached, townhouses, unit-flats). Here is my view for detached homes in the Mount Airy, Monrovia, New Market, and Ijamsville Md. zip codes, not including new construction.As of May 14, 2023 there are 46 such homes currently on the market for sale, 21 (46 percent) of which were added just this last week. There are 78 detach... 05/14/2023

Townhouse market activity for week ending May 14, 2023We all have heard stories/reports on how the real estate market is doing. We read them in print; view them on the web, hear them on the radio, listen to them on podcasts, and watch them on the TV. Most of these reports are on either the National, State, or County levels. I believe real estate conditions are most relevant at the local level. These other reports cover both a wide area (National, Region, State, or County) and several property types (detached, townhouses, unit-flats). Here is my view for townhouse market in the Mount Airy, Monrovia, New Market, and Ijamsville Md. zip codes, not including new construction.As of May 14, 2023 there are four such homes currently on the market for sale, three (75 percent) of which were added ... 05/14/2023

  3640 PETERSVILLE RD, KNOXVILLE, MD 21758 This well maintained immaculate brick rancher with numerous renovations and updates includes 3 bedrooms & 3 full baths. The yard is a gardeners paradise with beautiful landscaping, many perennials, flowers and trees. The large updated kitchen includes granite counters which opens to the dining area. Living room has a brick wood burning fireplace with hardwood floors. Family room off the kitchen has a wood stove which leads to a glass enclosed sun room. The primary bedroom has wood floors, a full bath with large shower stall. The basement includes an additional family room with a wood stove & recessed lighting , full bath , Infrared sauna, storage room, supersize laundry room with pantry. The private rear brick patio looks out on the beautiful s... 05/14/2023

    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 off main entrance with built-in shelves. The owner's suite includes a huge custom walk-in closet/dressing area, terrace access, and a remodeled luxury bath with double vanities, a gar... 05/12/2023