Urbana, MD Market Report – 8/20/10

20 Aug
August 20, 2012

Overall, real estate in the Urbana area of Frederick County Maryland is still heading downward.  These suburban areas, that are a significant distance from the DC Metro Area, are still struggling.

The number of closed sales is up +7.14% over this same time last year.  But the median and average sold price have continued to drop up to -16.29% when comparing this year to the last.  The inventory of active listings is much lower than July of 2012 down -16.67%.

There are still plenty of homes to choose from for the interested buyer – rates are still at historic lows.  A purchase now is a smart decision.  The bright spot in the Urbana area is in the townhome sales.  These attached homes sales are UP, UP, UP!  125% over last year – A signal to me that first time home buyers are taking advantage of the lower priced townhome communities in Urbana.

Below is the market report for July for the Urbana ZIP Code of 21704.

Statistic

Values

YoY

MoM

Total Sold Dollar Volume

$4,703,842

-21.03%

-34.52%

Closed Sales

15

+7.14%

-21.05%

Median Sold Price

$325,000

-20.63%

-5.8%

Avg Sold Price

$313,589

-26.29%

-17.05%

Avg Days on Market

75 days

+25%

+25%

Avg Sold to Orig List Ratio

96.1%

-0.77%

-0.68%

Urbana, Maryland is located in southern Frederick County at the I270/RT80 interchange.  Until recently Urbana was a small, rural area with lots of farm land and most noted for the Peter Pan restaurant which drew people from all over the area for its wonderful family style meals.

A Sunday drive to Peter Pan was the highlight of summer in the 50’s and 60’s. You would stroll the grounds admiring the peacocks and other animals while waiting for your group to be called to dinner.

The Villages of Urbana is a planned community with single family homes, townhouses and condos.  Community centers, pools, playgrounds, walking trails and shopping are interspersed among the individual villages as well as some fantastic eating establishments.

Market data and commentary provided by Kathy Fleskes & Serena Toro, Rockville Regional Office.
Search for homes in Urbana, and all of the Maryland/DC Metro: www.averyhess.com

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