Frederick Md Real Estate Market
In March we had a big month for real estate sales in Frederick County with 306 homes sold. Let’s see some highlights of the real estate sales for the city of Frederick:
There were 159 new listings in March. This is an indication that people are jumping into the “spring market” to list their homes for sale. The number of active listings in the city is 568, higher the 5-year average. More homeowners are seeing their home values return and are able to put their homes on the market.
More homes sold this March than last year, 192 total, compared to 229 last March.
The average sold price in March was $294,600. This was 98% of list price on average.
The median sold price was $255,000, the trend has been upward, as it was above the 5 year average.
The number of days on market (DOM) was 59. Lower than the 5-year average of 87.
Of the 192 homes that sold in March in Frederick City,
- 75 were single-family homes (down 9% from last year), The average selling price of single-family homes was $352,245, an increase of 2%,
- 81 were townhouses (81 last year), while the average selling price of townhomes was $229,800, an increase of 5%.
- 6 duplexes average price $201, 200
- 14 were condominiums, average selling price, $146,550, which was up 2% year over year.
Interest Rate Update
Interest rates dipped again this month, and are still at historic lows, even though the Fed has begun to very gradually raise rates. Average mortgage rates have been under 4% for weeks. The 30-year fixed-rate was 3.67% during the month of March. The 15-year fixed-rate average is 2.78%.
Contact us to see what your Frederick City home is worth: