The September 2013 Real Estate market statistics for Urbana in Frederick, MD (zip code 21704) are in and the great news is that the Urbana Homes Sales (by sold dollar volume) are doing much better in September 2013 than September 2012; 32.98% better to be exact! The bad news is that the homes for sale in Urbana are staying on the market 14.06% longer in September 2013 than September 2012.
These findings can be attributed to a number of reasons. Below, I will highlight some of the factors from the recent home sales, the current inventory available, the financing of the home purchases, and the number of days on the market that made up the September 2013 Home Trend Report.
Recent Home Sales
- In September 2013, the average price of a home in Urbana declined slightly by 2.48% when compared to September 2012. To quantify and provide exact figures, the average home price in September 2013 was $362,880 and the average home price in September 2012 was $372,115. The median price of a home rose 5.04% in September 2013 compared to September 2012.
Current Inventory Available
- In September 2013, the number of homes sold in Urbana jumped 36.36% when compared to September 2012. In September 2013, 15 homes were sold. In September 2012, 11 homes were sold. This is good news for the housing market because more homes are being sold!In September 2013, there were 59 new home listings, 7 new homes under contract, and 30 pending home sales.
- It is always interesting to see how homes are purchased. For September 2013, there were 4 homes purchased with cash, 4 homes were purchased with conventional financing, 4 homes were purchased with FHA financing, 2 homes were purchased with VA financing, and 1 home was purchased with other types of financing (details not mentioned on the report).
The Number of Days on the Market
- In September 2013, 1 home was sold on the same day it was listed, 1 home was sold between 1-10 days on the market, 2 homes were sold between 11-20 days on the market, 2 homes were sold between 21-30 days on the market, 4 homes were sold between 31-60 days on the market, 2 homes were sold between 61-90 days on the market, 2 homes were sold between 91-120 days on the market, and 1 home was sold between 181-360 days on the market.
This data was obtained from the MRIS Company, RealEstate Business Intelligence, LLC report generated on October 4, 2013. It is important to note that the report comes with a disclosure stating, “Information deemed reliable, but it is not guaranteed.”
Peter Murray is a Realtor with Keller Williams Realty Centre in Frederick, MD. Please visit his website at http://www.homesforsalefrederickcounty.com/ .