The Long & Foster Market Minute

Focus On: Frederick County Housing Market May 2022

Units Sold
498
Active Inventory
371
Median Sale Price
$459,190
Days On Market
14
Down -14%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 9%
Vs. Year Ago
Up 40%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 498 sold this month in Frederick County Real Estate versus 432 last month, an increase of 15%. This month's total units sold was lower than at this time last year, a decrease of 14% versus May 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 80 units or 18%. The total number of active inventory this May was 371 compared to 451 in May 2021. This month's total of 371 is higher than the previous month's total supply of available inventory of 365, an increase of 2%.

Median Sale Price
Last May, the median sale price for Frederick County Homes was $420,000. This May, the median sale price was $459,190, an increase of 9% or $39,190 compared to last year. The current median sold price is 2% higher than in April.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
630
Current Contracts
513
Sold Vs. List Price
103.3%
Months of Supply
0.7
Down -4%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In May, there was 0.7 months of supply available in Frederick County. The amount of supply is similar compared to a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 630 homes newly listed for sale in Frederick County compared to 654 in May 2021, a decrease of 4%. There were 513 current contracts pending sale this May compared to 581 a year ago. The number of current contracts is 12% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Frederick County was 103.3% of the average list price, which is 0.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 14, higher than the average last year, which was 10, an increase of 40%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.