PRESENTATION OUTLINE
Frederick Real Estate Market Update
In June we saw a tiny slow-down in real estate sales in Frederick Md. We suspect it was "vacation mode" and home buying was not the top priority for many people.
July real estate statistics: Although down from June by 5%, sales were still steady with 2013, showing the continued health of the local Frederick market
Overall Average Sales Prices: -2%
Average Single-Family: -1%
Average Attached Home: +2%
Statistics
- Median Price: $275,000 Down 3% from 2013
- Average Days on Market 50 days, from 55
- Number of homes sold: 303, down 3%
- Five Year July Average for Solds: 260
Trends
- Sellers got 97% of list price on average...
- Cash transactions were 14% of sales in July 2014
- The majority of homes sold: $200,000 to $300,000
- Increased Inventory is leading to a balanced market
Current mortgage rates (around 4.12% 30-year fixed) have been steady in August.
As job reports come in with good news, as inflation is on the horizon, mortgage experts expect rates to climb to 4.5 - 5% in 2014
Contact Chris Highland
The Highland Group
for Frederick Real Estate
301-401-5119
Turning Point Real Estate
