How is the real estate market in Downtown Frederick in 2016? We’re off to a great start to the year, with a lot of activity for the winter, especially considering we survived Winter Storm Jonas!
Here’s the synopsis for real estate sales in January:
- Active Listings in January: 7 compared to 2 in January 2015
- Closed Sales: 2 compared to 0 in 2015
- Absorption Rate: There is currently a 3.5 month supply of homes for sale in the Historic District in Frederick Md:
- As is typical for winter, the DOM, or days it took to sell a home, was up for the month of January, compared to the previous months in 2015:
The breakdown of the price ranges of homes in the Historic District is wide…showing the unique homes that are for sale. The metrics of “average home price” aren’t very useful.
One metric that is useful…the median sold price has been consistently higher than the median list price. This is a reflection of the tight inventory and the steady demand.
We’re expecting the market to continue in this pattern throughout 2016. If you’ve been waiting to list your home for sale in the Historic District, 2016 could be the year. The combination of low interest rates, increasing values and increased demand make a good seller’s market.
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