The Long & Foster Market Minute

Focus On: Frederick Housing Market March 2019

Zip Code(s): 21701, 21702, 21703, 21704, 21714 and 21717
Units Sold
154
Active Inventory
453
Median Sale Price
$300,000
Days On Market
67
Down -31%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 34%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 154 sold this month in Frederick Real Estate versus 129 last month, an increase of 19%. This month's total units sold was lower than at this time last year, a decrease of 31% versus March 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 18 units or 4%. The total number of active inventory this March was 453 compared to 435 in March 2018. This month's total of 453 is higher than the previous month's total supply of available inventory of 430, an increase of 5%.

Median Sale Price
Last March, the median sale price for Frederick Homes was $288,000. This March, the median sale price was $300,000, an increase of 4% or $12,000 compared to last year. The current median sold price is 8% higher than in February.

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


New Listings
347
Current Contracts
239
Sold Vs. List Price
99.6%
Months of Supply
2.9
Up 7%
Vs. Year Ago
Down -6%
Vs. Year Ago
No Change
Vs. Year Ago
Up 52%
Vs. Year Ago

Months of Supply
In March, there was 2.9 months of supply available in Frederick, compared to 1.9 in March 2018. That is an increase of 51% versus 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 347 homes newly listed for sale in Frederick compared to 324 in March 2018, an increase of 7%. There were 239 current contracts pending sale this March compared to 253 a year ago. The number of current contracts is 6% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Frederick was 99.6% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 67, higher than the average last year, which was 50, an increase of 34%.

The Long & Foster Market Minute Frederick are defined as properties listed in zip code/s 21701, 21702, 21703, 21704, 21714 and 21717.
*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.