The Long & Foster Market Minute

Focus On: Frederick Housing Market October 2018

Zip Code(s): 21701, 21702, 21703, 21704, 21714 and 21717
Units Sold
173
Active Inventory
510
Median Sale Price
$282,000
Days On Market
63
Down -20%
Vs. Year Ago
Down -14%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 24%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 173 sold this month in Frederick Real Estate versus 195 last month, a decrease of 11%. This month's total units sold was lower than at this time last year, a decrease of 20% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 84 units or 14%. The total number of active inventory this October was 510 compared to 594 in October 2017. This month's total of 510 is lower than the previous month's total supply of available inventory of 554, a decrease of 8%.

Median Sale Price
Last October, the median sale price for Frederick Homes was $299,000. This October, the median sale price was $282,000, a decrease of 6% or $17,000 compared to last year. The current median sold price is 4% lower than in September.

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


New Listings
271
Current Contracts
215
Sold Vs. List Price
99.5%
Months of Supply
2.9
Down -11%
Vs. Year Ago
Down -11%
Vs. Year Ago
No Change
Vs. Year Ago
Up 7%
Vs. Year Ago

Months of Supply
In October, there was 2.9 months of supply available in Frederick, compared to 2.8 in October 2017. That is an increase of 7% 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 271 homes newly listed for sale in Frederick compared to 305 in October 2017, a decrease of 11%. There were 215 current contracts pending sale this October compared to 242 a year ago. The number of current contracts is 11% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Frederick was 99.5% 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 63, higher than the average last year, which was 51, an increase of 24%.

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.