The September 2013 Real Estate market statistics for Frederick County are in and the great news is that the Frederick County Homes Sales (by sold dollar volume) are doing much better in September 2013 than September 2012; 39.9% better to be exact! The bad news is that the homes for sale in Frederick County are staying on the market 29.73% 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 Frederick County jumped 18.23% when compared to September 2012. To quantify and provide exact figures, the average home price in September 2013 was $325,051 and the average home price in September 2012 was $274,931. The median price of a home jumped 8.4% in September 2013 compared to September 2012. The main reason why the average home price comparison is much higher than the median home price is because more 3&4+ Bedroom units were sold in September 2013 than in September 2012.
Current Inventory Available
- In September 2013, the number of homes sold in Frederick County jumped 18.32% when compared to September 2012. In September 2013, 226 homes were sold. In September 2012, 191 homes were sold. This is great news for the housing market because more homes are being sold!In September 2013, there were 375 new home listings, 100 new homes under contract, and 259 pending home sales.
- It is always interesting to see how homes are purchased. For September 2013, there were 38 homes purchased with cash, 115 homes were purchased with conventional financing, 39 homes were purchased with FHA financing, 21 were purchased with VA financing, and 13 were purchased with other types of financing (details not mentioned on the report).
The Number of Days on the Market
- In September 2013, 5 homes were sold the same day they were listed, 61 homes were sold between 1-10 days on the market, 33 homes were sold between 11-20 days on the market, 20 homes were sold between 21-30 days on the market, 45 homes were sold between 31-60 days on the market, 24 homes were sold between 61-90 days on the market, 16 homes were sold between 91-120 days on the market, 11 homes were sold between 121-180 days on the market, 8 homes were sold between 181-360 days on the market, and 3 homes were sold between 361-720 days on the market.
This data was obtained from the MRIS Company, RealEstate Business Intelligence, LLC report generated on October 4, 2013.
Peter Murray is a Realtor with Keller Williams Realty Centre in Frederick, MD. Please visit his website at http://www.homesforsalefrederickcounty.com/ .