Can I Get a Steal In the Frederick Real Estate Market in 2009?
Jan. 30, 2009
There are always savvy buyers and investors asking the question, "Can I get a steal?" Our answer is usually, "It depends." It depends on your definition of a steal. Can you get something 20% below market? Yes, but do you mind putting some work into it? If you don't, this is your market. There are many REO's (Bank-owned, foreclosures) on the market at incredible prices. But you have to be ready to jump when you find one. Take this one, for example:
822 Apache Court This house was listed for $399,000 last year, then went into foreclosure. It was listed on January 8, for $216,000, and sold in 9 days. This was a steal. Yes, the steals are out there, if you can move on them quickly.
To see more deals, use our free search tool:
The Highland Real Estate Group
Chris & Karen Highland
Frederick County MD Real Estate Agents
Specializing in Frederick County Real Estate
301-831-9947
Real Estate Teams, LLC
isell4u2@msn.com
Pictures of Frederick
View more entries tagged with: Foreclosures,
Reos,
Deals,
Steals,
Frederick Real Estate
Year-End Frederick County Real Estate Market Statistics
Jan. 18, 2009
It’s that time of month again…time for Frederick Real Estate Market Statistics. I’ve got an extra treat, statistics for the entire year! 
Real Estate Statistics for Frederick County:
2008 2007 % Change
Number homes sold: 145 160 -9%
Average sold price: $276,595 326,373 -15%
Median sold price: 239,900 282,838 -15%
Average days on market 137 145 -6%
Sold price as % of List price: 86% 90%
*The present absorption rate is 11.5 months, up from 9 or 10 in the Fall.
Frederick County Real Estate Statistics Year in Review:
January 2008 2007 % Change
Average Sold Price: 341,453 365,151 -6%
Median Sold Price: 295,000 322,500 -9%
February
Average Sold Price: 338,888 343,392 -1%
Median Sold Price: 295,000 305,000 -3%
March
Average Sold Price: 323,628 340,773 -5%
Median Sold Price: 290,000 307,500 -6%
April
Average Sold Price: 322,660 375,549 -14%
Median Sold Price: 289,900 309,950 -6%
May
Average Sold Price: 325,104 349,718 -7%
Median Sold Price: 286,000 323,950 -12%
June
Average Sold Price: 310,917 345,473 -10%
Median Sold Price 272,500 309,450 -12%
July
Average Sold Price: 327,235 366,884 -11%
Median Sold Price: 295,000 316,250 -7%
August
Average Sold Price: 298,973 359,949 -17%
Median Sold Price: 265,000 315,000 -16%
September
Average Sold Price: 290,129 340,478 -15%
Median Sold Price: 262,000 295,500 -11%
October
Average Sold Price: 276,620 328,826 -16%
Median Sold Price: 234,500 287,000 -18%
November
Average Sold Price: 263,156 314,510 -16%
Median Sold Price: 231,000 273,300 -14%
December
Average Sold Price: 276,595 326,373 -15%
Median Sold Price: 239,900 282,838 -15%
And for the Visual People:
*Commentary: There’s not really much to say when you look at this graph. Except… the curve of the line around November looks like a bottom to me. I don’t know if its The Bottom, but it could be. Let me know what you think by leaving me a comment, I’d love to hear from you!
The Highland Real Estate Group
Chris & Karen Highland * Frederick County MD Real Estate Agents
Specializing in Frederick County Real Estate
301-831-9947
Real Estate Teams, LLC
isell4u2@msn.com
Pictures of Frederick
View more entries tagged with: Real Estate,
Market Statistics,
Year In Review,
2008 Market Statistics
Median Home Prices in the 2008 Frederick Real Estate Market
Jan. 2, 2009
What do median home prices tell us about the real estate market in Frederick, MD? We know that prices have been dropping since the high-water mark of October 2005. October 2008 saw the largest percentage drop of this year, 18%, in the median price, over last year. I’ve been tracking the numbers since this May, lets see what they look like:
|
May
|
2008 |
2007 |
% Change |
|
Total Units Sold
|
184
|
264
|
-30%
|
|
Average Sold Price
|
$325,104
|
$349,718
|
-7%
|
|
Median Sold Price
|
$286,000
|
$323,950
|
-12%
|
|
June
|
2008 |
2007 |
% Change |
|
Total Units Sold
|
198
|
248
|
-20%
|
|
Average Sold Price
|
310,917
|
345,473
|
-10%
|
|
Median Sold Price
|
272,500
|
309,450
|
-12%
|
|
July
|
2008 |
2007 |
% Change |
|
Total Units Sold
|
187
|
250
|
-25%
|
|
Average Sold Price
|
327,235
|
366,884
|
-11%
|
|
Median Sold Price
|
295,000
|
316,250
|
-7%
|
|
August
|
2008 |
2007 |
% Change |
|
Total Units Sold
|
201
|
222
|
-9.5%
|
|
Average Sold Price
|
298,973
|
359,949
|
-17%
|
|
Median Sold Price
|
265,000
|
315,000
|
-16%
|
|
September
|
2008 |
2007 |
% Change |
|
Total Units Sold
|
205
|
152
|
+35% *
|
|
Average Sold Price
|
290,129
|
340,478
|
-15%
|
|
Median Sold Price
|
262,000
|
295,500
|
-11%
|
|
October
|
2008 |
2007 |
% Change |
|
Total Units Sold
|
170
|
187
|
-9%
|
|
Average Sold Price
|
276,620
|
328,826
|
-16%
|
|
Median Sold Price
|
234,500
|
287,000
|
-18%
|
* Wow, what happened in September? A combination of a.) first-time buyers jumping in before the seller assistance programs for FHA loans disappeared on Oct. 1st, b.) End of summer bump in sales: sellers decreasing prices to get their homes sold, families settling before school starts, etc., and c.) Could it be that prices are finally at the place where buyers are jumping off the fence? That place we like to call affordability. We believe affordability is in sight because of the large number of foreclosures we are seeing and the number of multiple offers we are seeing on those REO’s.
For all of you visual people, here is a graph to illustrate: 
To see homes for sale in Frederick and the surrounding areas:
The Highland Real Estate Group
Chris & Karen Highland *
Frederick County MD Real Estate Agents
Specializing in Frederick County Real Estate
301-831-9947
Real Estate Teams, LLC
isell4u2@msn.com
Pictures of Frederick
View more entries tagged with: Median Home Prices,
Average Home Prices,
Frederick Real Estate Market
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