Frederick County, MD – 12/23/13

23 Dec
December 23, 2013

There is so much to do in Frederick that it is hard to know where to begin.

Civil war battlefields, parks, museums, wineries, zoos, minor league ballgames, historic sites, antique shops, farm markets and more. Visit old town Frederick and experience a day of shopping, browsing and eating.  The unique shops offer merchandise not found in the malls and big name stores and the wonderful eating establishments rival any 5 star restaurants. In fact, the restaurant Volt is a 5 star restaurant written up in many magazines as a top rated place to dine with a Top Chef runner-up at the helm.

Spend a Saturday at one of the wineries in the area and you might just find that special wine you have always been looking for.

Downtown Frederick has been designated an Arts and Entertainment District and there is an extensive number of performance arts and venues to suit every taste.

Frederick has much to offer in the way of family fun – reminisce at the 75-80 dragaway and experience those bygone days of supervised drag racing in a safe environment. Adventure Park, white water rafting, the many fairs at the Frederick fairgrounds to name a few activities to be enjoyed by the entire family.

It is not far and the drive up 270 from the Washington suburbs is an easy one – As you near the Frederick area, you see why so many people choose to live there – the view as you crest the rise on 270 is spectacular with the mountains in the background and the city spread out before you – you might think you may not go back down 270, but want to remain in Frederick.

Statistic

Values

YoY

MoM

Total Sold Dollar Volume

$61,864,556

+0.9%

-10.95%

Closed Sales

216

-6.49%

-10%

Median Sold Price

$255,250

+6.35%

-1.52%

Avg Sold Price

$286,410

+7.9%

-1.05%

Avg Days on Market

64 days

-9.86%

+28%

Avg Sold to Orig List Ratio

95.56%

+0.89%

-1.19%

 In Frederick County, MD, the median sold price for all types of properties (condo, attached & detached) through the month of November is $255,250, which is down slightly over October but up over 6% in comparison to this same time last year.  I would like to look at the market in more detail.  Starting with the detached homes, then attached and finally ending with the very small condo market.  In all three categories the market statistics indicate a strong seller’s market.

In Frederick County, MD, Detached properties (or sometimes called single family homes) for November was $318,750, representing a decrease of 3.4% compared to last month and an increase of 8.1% from Nov 2012. The average days on market for units sold in November were 85 days, 26% below the 5-year November average of 115 days. There was a 27.6% month over month decrease in new contract activity with 142 New Pendings; a 3% MoM decrease in All Pendings (new contracts + contracts carried over from October) to 323; and a 10.3% decrease in supply to 654 active units. This activity resulted in a Contract Ratio of 0.49 pendings per active listing, no change from October and no change from November 2012. The Contract Ratio is 20% higher than the 5-year November average of 0.41. A higher Contract Ratio signifies a relative increase in

contract activity compared to supply, and indicates the market is moving in the seller’s favor.

In Frederick County, MD, the median sold price for Attached/Townhouse properties for November was $217,000, representing an increase of 4.8% compared to last month and an increase of 3.3% from Nov 2012. The average days on market for units sold in November were 33 days, 48% below the 5-year November average of 63 days. There was a 2.2% month over month decrease in new contract activity with 89 New  pendings; a 2.2% MoM decrease in All Pendings (new contracts + contracts carried over from October) to 177; and a 23.1% decrease in supply to 166 active units. This activity resulted in a Contract Ratio of 1.07 pendings per active listing, up from 0.84 in October and no change from November 2012. The Contract Ratio is 14% higher than the 5-year November average of 0.94.

A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor.

In Frederick County, MD, the median sold price for Condo & Coop properties for November was $159,900, representing a decrease of 3.1% compared to last month and an increase of 19.3% from Nov 2012. The average days on market for units sold in November were 48 days, 55% below the 5-year November average of 106 days. There was a 16.7% month over month decrease in new contract activity with 20 New Pendings; a 14.6% MoM increase in All Pendings (new contracts + contracts carried over from October) to 55; and a 4.8% decrease in supply to 40 active units. This activity resulted in a Contract Ratio of 1.38 pendings per active listing, no change from October and no change from November 2012.

The Contract Ratio is 69% higher than the 5-year November average of 0.82. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor.

 

Erica Higgins

Administrative Manager & Marketing Assistant at Avery-Hess, Realtors
Front Royal
Office: (540) 631-9009
Email: ehiggins@averyhess.com

Latest posts by Erica Higgins (see all)

Tags: , , , ,
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply