Monday’s Market Watch in Frederick County

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Let’s start off with a few items about the numbers I watch. There are only three that help me gauge the market conditions. I can get real in-depth which tons of different numbers, but we’ll keep it light for a while. I have been tracking them for sometime.

First off, I look at the total number of active homes on the market in Frederick County Maryland. That includes homes with Contingencies with a Kick Out. (this helps understand inventory turns or months of inventory.) Too Rich, a buyer’s market and too lean, a seller’s market.

Then, I like to see how many homes are new to the market in the last two days. No rhyme or reason, just a line in the sand to gauge trends.

Finally, the other one I monitor regularly is the number of homes that went under contract in the last seven days. (here again no rhyme or reason just a line in the sand.) Believe me, there are tons of other numbers you can look at to gauge real estate market conditions. You can dice it and slice it however you like. For the purpose of this blog and my sanity, we will only really talk about these three. Sure, I will throw in other numbers later.

May 7th Tracker There is an abundance of homes in the Frederick County area. We are looking at 1853 right now. So, what does that mean to average home seller? DON’T SELL unless you have to!!!! We are in a buyer’s market. but the buyers are hiding There are plenty of deals out there…and to top it off, interest rates are still at historic lows. IMHO, I believe the subprime trickled over to the rest of the market. We needed them to let everyone upgrade to the next level. So, what else could it be? It can’t be the gas prices?!?!?! Tell me what you think.

May 7, 2007 · Filed Under Market Condition

Comments

2 Responses to “Monday’s Market Watch in Frederick County”

Kevin Lynott on May 8th, 2007 11:55 pm

One word to describe the market in your area… CORRECTION. I’m living proof!

See the following: http://www.latimes.com/business/la-fi-homes2mar02,1,3162983.story?coll=la-utilities-business

Utah, Wyoming and Idaho are growing quickly. In the words of Horace Greeley…well you know.
gotbob on May 9th, 2007 7:36 am

You are right, Kevin. Correction in the market. I will be talking about the impact of Preforeclosures and foreclosures on appraisal in a future blog. Unfortunately, sometimes isolated to one home in the neighborhood affects them all for future values.

Thanks for the article. It follows a rule of thumb in housing and commercial real estate. JOB GROWTH–> REAL ESTATE SALES –> LOCAL BUSINESS.