A peek into the Frederick Condo Market
February 9, 2009 by Bob Carney
Filed under Market Conditions
There have been some drastic changes in the condo market over the past year. I have been watching them for some time now. Fortunately, we have a much lower inventory. Too many condos (homes) pollute the market and make buyer decisions tough. It is in our nature to want to make sure we got the best deal out there especially when we are about to make one of the biggest financial decisions of our life. So, with all these homes out there, buyers will want to see most of them.
Of course, the key elements in this decision is always the same. Does it look good (in good shape?) Is it priced right? And do I like the location? Not necessarily in that order, but they are at the top of the list. Sellers take note…Tip top shape, price aggressively, unfortunately you can’t move it, so over do the other two.
Here is what the condo market around Frederick looked like back in April of last year.
Frederick Condo Market 4/7/08
| Condo Assoc. | Active | Contract | Sold in last 90 Days | Price Range |
|---|---|---|---|---|
| Ambertowne | 6 | 1 | 2 | 113,000-159,900 |
| 8th St Mews | 5 | 2 | 1 | 189,900-219,900 |
| Creekside Plaza | 5 | O | O | 397,900-1,180,000 |
| Jefferson Chase | 4 | O | O | 149,900-192,900 |
| Mill Crossing | 13 | O | 1 | 209,900-269,900 |
| Maxwell Place | 5 | O | 1 | 325,000-673,750 |
| Monacacy Overlook | 6 | O | O | 174,900-215,000 |
| Old Farm Station | 12 | O | 1 | 179,900-250,000 |
| Ridgeview II | 10 | O | 1 | 210,000-250,000 |
| Springridge | 6 | 1 | 2 | 175,000-249,900 |
| Wormans Mill | 8 | O | O | 234,000-369,900 |
| All Frederick County | 171 | 15 | 30 | 115,000-1,180,000 |
Now note some of the differences in today’s numbers. You will see that prices have dropped dramatically in some places and in places that have not made price adjustments, they are still have no activity.
Frederick Condo Market 2/9/09
| Condo Assoc. | Active | Contract | Sold in last 90 Days | Price Range |
|---|---|---|---|---|
| Ambertowne | 11 | 1 | 2 | 74,900-134,900 |
| 8th St Mews | 0 | 1 | 2 | 184,900-199,900 |
| Creekside Plaza | 4 | 1 | O | 397,900-990,000 |
| Jefferson Chase | 5 | 1 | O | 145,000-165,900 |
| Mill Crossing | 4 | O | O | 184,400-193,100 |
| Maxwell Place | 3 | 1 | O | 274,900-449,900 |
| Monacacy Overlook | 4 | O | O | 139,900-189,900 |
| Old Farm Station | 7 | 2 | O | 119,900-199,000 |
| Ridgeview II | 5 | O | O | 155,000-255,000 |
| Springridge | 4 | 1 | 2 | 199,900-242,000 |
| Wormans Mill | 3 | O | 2 | 194,900-364,900 |
| All Frederick County | 117 | 16 | 25 | 74,900-990,000 |
Now this table is not all inclusive of all the Condo Subdivisions. If you are looking for Ballenger Creek, Echo Glen, Stuart Mechanic, Waterside and others. You can check out this list of condo activity from my MLS Metropolitan Regional Information System.
Of course, if you don’t find what you are looking for, contact me and I will gladly assist you in the search for your next home.
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. Bob left the Frederick area to manage a resort office near Deep Creek Lake in Western Maryland. He still stays in touch with the area that he has grown to love. 
Bob Carney
Hmm,
I stay interested in the Condo market since eventually I want to downsize from my town home when the time is right (in the future). Interesting summation Bob. I still think that most of the condos are priced too high — especially Maxwell Place — that I see has finally lowered it’s prices some.
Anywho – do you have any stats on the condos on West all Saints — a block west of Maxwell Place? I can’t recall the name of them but they are next to the “Pink” house
. Just curious kind sir.
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Sorry for the delay for some reason your comment went into spam.
Let me work on that and I will email them to you.