The Long & Foster Market Minute

FOCUS ON: FREDERICK COUNTY HOUSING MARKET MAY 2024

Units Sold
148
Active Inventory
268
Median Sale Price
$442,750
Days On Market
28
Up 23%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 148 sold this month in Frederick County Real Estate versus 142 last month, an increase of 4%. This month's total units sold was higher than at this time last year, an increase of 23% versus May 2023.

Active Inventory
Versus last year, the total number of homes available this month is higher by 27 units or 11%. The total number of active inventory this May was 268 compared to 241 in May 2023. This month's total of 268 is lower than the previous month's total supply of available inventory of 280, a decrease of 4%.

Median Sale Price
Last May, the median sale price for Frederick County Homes was $417,995. This May, the median sale price was $442,750, an increase of 6% or $24,755 compared to last year. The current median sold price is 3% 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
175
Current Contracts
164
Sold Vs. List Price
100.2%
Months of Supply
1.8
Up 4%
Vs. Year Ago
Up 12%
Vs. Year Ago
No Change
Vs. Year Ago
Down -10%
Vs. Year Ago

Months of Supply
In May, there was 1.8 months of supply available in Frederick County, compared to 2.0 in May 2023. That is a decrease of 10% 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 175 homes newly listed for sale in Frederick County compared to 169 in May 2023, an increase of 4%. There were 164 current contracts pending sale this May compared to 146 a year ago. The number of current contracts is 12% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Frederick County was 100.2% 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 28, lower than the average last year, which was 32, a decrease of 13%.

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.