Frederick County Real Estate Market Trends December 2019

Dated: 03/17/2020

Views: 227

We’ve had a busy winter for real estate sales here in Frederick, compared to last year. Sales were brisk, time on market was down, and prices continued to rise at a healthy pace.

February was a busy month for us at Steinhoff Properties. We had several listings go under contract within days of coming on the market. One listing sold in one day! Even though the season usually slows down for the winter when it comes to real estate, we saw a change in that pattern this year. 

Here is a snapshot of Frederick County’s real estate market trends for February 2020, and a projection of what we can look forward in the next year.

Frederick Real Estate Statistics for February

The Median Home Sales Price: $306,000, up 4% from last February. We’ve seen a larger increase in single-family sales as compared to townhouse sales in February, but both were up significantly.

  • Average Single-Family Sales Price: $384,568, up 2% from last year at this time.
  • 179 single-family homes sold,  up 48% from last year’s number!!
  • Average Attached Home Sales Price: $259,209, up 1% from last year.
  • 110 townhouses and condos sold, up 33% from last year’s number.
  • A total of 289 homes sold, up 42% from last year! 

Increased demand and a low inventory = price acceleration.

676 homes were on the market (the lowest for February in 5 years) inventory was down 22% from last February. Keep in mind that a “normal” inventory is between 1300 and 1400 homes on the market. It is very much a seller’s market. New listings have slowed quite a bit this winter, the inventory is not keeping up with the demand.

Detailed Real Estate Market Statistics

Average Days on Market (DOM) the time it takes to get a home under contract: 55 days, down 2% from last year at this time (56 days). .. less than the 5 years November average of 62 days. This also is a demonstration of demand.

New Listings in February: There were 496 new listings last month, a 14% increase over February 2019, which we’re all grateful to see… but still not enough! There are 768 homes currently under contract total, up 25%. When more homes are selling than are coming on the market, this is a sign of higher demand.

Which brings us back to a homeowner’s favorite formula: 

Increased demand and a low inventory = price acceleration.

Number of Homes Under Contract: There were 495 new contracts (homes that went under contract) up 56% from last February. March will be a busier than usual settlement month!

What's Notable for Buyers:

  • The majority of homes sold were in the $200,000 to $299,000 range. (higher competition for buyers) The largest number of listings are in the $300,000 to 399,000 price range (higher competition for sellers)
  • Interest rates are at historic lows, fueling the market. Although we don’t know the future of interest rates, many lenders look for rates to stay low for the near future. See today’s rates

What's Notable for Sellers:

  • All indications are that the market is healthy and serious buyers are continually entering the market this winter, a time when the market typically slows down a bit. We believe we’re seeing an early spring market here in Frederick County. This means it is a good time to sell. If you’re ready, you may not want to wait until the spring market. 

  • We are seeing more multiple offers on the homes that are in great condition and priced to sell…and this will continue to put upward pressure on home prices into the first half of next year.
  • Homes that are priced well and in the best condition, and in areas of demand, are sold in weeks or even days. This doesn’t mean that sellers can expect huge increases…they need to remember that the home must still appraise about 90% of the time, as buyers count on financing to purchase.
  • Pricing your home too aggressively will cause it to sit on the market longer, and you’ll need to do a price adjustment eventually, often losing important marketing time and losing more money than if it had been priced correctly at the start.

    Steinhoff Properties Real Estate Statistics

    Steinhoff Properties

    At Steinhoff Properties, our listings sell at 99% of the original list price, on average.


    The time on the market, or "days on market", for our listings is an average of 36 days.

    Contact us and we'll be happy to help you get the highest price in the shortest amount of time for your market. Steinhoff.sales@gmail.com

    Contact us for a private showing on any of these Villages of Urbana listings. Eric Steinhoff (240) 818-5744

Maryland Real Estate Market

Maryland real estate market trends

Everything is UP, UP, UP in Maryland. (Except Time on Market!)


Search for Homes in Frederick County

Find Out What Your Home May Be Worth

Blog author image

Eric Steinhoff

There is no substitute for skill, polish, years of experience, and thorough knowledge of the local market. That is what Steinhoff Properties and I offer our clients. "The keys to my clients' success....

Latest Blog Posts

Ijamsville Real Estate Market Trends February 2020

New Listings in Ijamsville in February13 homes were listed in the Ijamsville zip code (21754) in February, making a total of 42 homes currently on the market.Single-Family Homes:3307 Nicholas Ct -

Read More

Frederick County Real Estate Market Trends December 2019

We’ve had a busy winter for real estate sales here in Frederick, compared to last year. Sales were brisk, time on market was down, and prices continued to rise at a healthy pace.February was a

Read More

Villages of Urbana Market Report February 2020

New Listings in the Villages of Urbana in FebruaryEight (8) homes were listed in the Villages in February, making it a total of 31 homes still active on the market.Single-Family Homes:4000 Belvedere

Read More

Ijamsville Real Estate Market Report January 2020

New Listings in Ijamsville in January16 homes were listed in the Ijamsville zip code (21754) in January, making a total of 28 homes currently on the market.Single-Family Homes:3200 Cedar Grove Mews-

Read More