Quick update on the Frederick County Housing market

Here’s a snapshot of what is going on in the county right now. Housing inventory is dropping slightly due to the season. We normally see drops around the holidays. I highlighted in blue last year’s traffic going into the spring market. Note the fluctuation in the the number of homes under contract (blue line) last year. It has been pretty stable throughout the year without much fluctuation. I feel this is a positive sign in the market and that people are starting to get serious about buying.  The sellers are getting serious about what they want to do with their homes also.  As we see the total inventory numbers drop, we see more a more motivated seller.  In markets like this, you have to be serious or you’re not going to sell your house.  I plan on researching the number of short sales and bank owned properties in our market, but that will be later this week or next.  The higher these numbers, the lower your price will need to be in order to compete (or let’s make that, you will need to have a much better value for what you are offering.)  Buyers are still looking for deals.  The interest rates are low, prices are low.  You can look for your next home here.

November 2008 Market Update

Have a great day

Bob

Bob is a licensed Real Estate agent in Maryland and Pennsylvania. You can contact him via email at bob@gotbob4homes.com or call him on his cell phone at 240-285-4918.  He has been the Assistant Manager at the Mt Airy office for the past two years. Not only does he list and sell residential real estate, but can help you with your commercial real estate needs as well. He has been a resident of Frederick County for the past nine years.