We hope you that will find the following snapshot ofÂ UrbanaÂ Maryland Real Estate Market & inventory interesting. These charts Â represent the condition of our local market here in Frederick County Maryland and an easy explanation. .
Let's Begin. .Â
Something to note right away. . .these charts representÂ theÂ stateÂ ofÂ theÂ market YEARÂ overÂ YEAR forÂ theÂ last 5 YEARS.
Explanation:Â The first chart depictsÂ theÂ average daysÂ youÂ willÂ expect a listing to lastÂ whenÂ it comes for sale.
What Does It Mean?Â :As you can see, we are at the lowest areas forÂ theÂ last 5 years. Listings are becoming scarce as more buyers seem to take advantage ofÂ theÂ lowÂ interestÂ rates
Explanation:Â The AVERAGE sold PRICE in the last five years vs the Median SOLD PRICE.
What Does It Mean?Â :As you can see, these two come hand in hand, but the mostÂ importantÂ factor is that show signs of normalcy. . Â is the fact that we have slowly progressed inÂ theÂ last 5 years to what we were in 2007Â
Explanation:Â The first chart depictsÂ the MedianÂ SoldÂ Price andÂ theÂ second shows that Average SOLD price. .what is theÂ difference?
What Does It Mean?Â :It is just two different ways to find the averageÂ SOLD PRICE on homesÂ at any given moment. An average is the sum of all SOLD every year and divided by 5 . . and the median justÂ measureÂ the Â middleÂ trend without becoming askew in case of an unusual SOLD price that is notÂ representativeÂ toÂ theÂ local market.Â
If you know someone who is considering buying or selling a home in Frederick County or any nearby areas.. please give us a call. We will provide professional & courteous service along with knowledgeable guidance through the process inÂ buyingÂ or selling real estate.
Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Herboso & Associates LLC
Our Â real estate knowledge is always up-to-date. For expertise you can depend us, call us when you have questions aboutÂ theÂ market or are ready to make a significant move. . .Quality representation is not expensive, its priceless!