Frederick Md Real Estate Market - August 2014

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Frederick County Real Estate Market Snapshot August 2014 provided by the Highland Group We’re seeing the real estate market in Frederick continue it's recovery this summer with a steady demand. Here is a snapshot of Frederick County real estate statistics August: Frederick Real Estate Trends for August 2014 Average Home Sales Price: $302,400: up 4% from last August. Very close to July's average sales price. Average Single-Family Sales Price: $338,250 Average Attached Home Sales Price: $223,700 Median Home Sales Price: $290,000: up 10% since last August. Up 5% since July. Average Days on Market (DOM): 67 days, up 22% from last August, up 34% from the previous month of July. Number of Homes Sold: 348, up 12% from last August (312), up 15% from July (303). Total Listings in Frederick Md: 1311, up from 937 last August, 40%. Newly Under Contract: 315, up 9% from last August. Sellers got 96% of list price on average, compared to 96% last August. What’s Notable: We're seeing a healthy demand as people are back from "vacation mode". The inventory has increased as more people are able to see appreciation over last year. Cash deals were 14% of sales. Investors and flippers are finding a good market in Frederick this summer. 49% of loans were with Conventional financing, 18% were FHA. (As FHA raises fees, they become more irrelevant in the market) The majority of home sales take place in the $200,000 to $300,000 price range. 28%. A second highest, 26% of homes sold were in the $300,000 to $400,000 range. It's no longer a seller's market in Frederick Maryland