Is Frederick, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Frederick is a seller's market

Buyer's
Market

Difference Since August 2022

Since last year, Frederick has remained a Seller's Market.

Key Takeaway

Frederick is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices

How much do homes in Frederick, MD cost?

Median Sold Price

$425,451

$218/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2022

+$35,393(+9.1%)

Key Takeaway

Homes in Frederick have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in Frederick was $425,451 in August 2023, up 9.1% from last year, and the median price per square foot was $218.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $165K$174.2K
+5.6%
2 $258.9K$295.5K
+14.1%
3 $374.7K$410K
+9.4%
4 $485K$524.9K
+8.2%
5+ $569.2K$680K
+19.5%

Summary: Frederick housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 14.1%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 19.5%.

Housing Supply

How many homes are available in Frederick, MD?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE
668659-1.3%

Summary: The Frederick real estate market had 659 homes for sale in August 2023, a 1.3% decrease compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 56
+20.0%
2 97105
+8.2%
3 324318
-1.9%
4 188171
-9.0%
5+ 5459
+9.3%

Summary: The Frederick housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 8.2%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes decreased by 9%, and 5+ bedroom homes increased by 9.3%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE
190182-4.2%

Asking Price vs. Sold Price

34 Homes Were Sold
Under Asking

51 Homes Were Sold
At Asking

97 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Frederick, you could pay more than the asking price. 53.3% of homes here sold above asking price last month.

Summary: A total of 182 homes were sold or pending in Frederick in August 2023, down by 4.2% month-over-month. Of the 182 sold homes, 19% were sold under asking, 28% were sold at asking, and 53% were sold over asking.

Days on Market

How long does it take to sell a home in Frederick, MD?

Average Sale Time

Aug 2022Aug 2023CHANGE
14 Days11 Days-18.6%

Summary: Homes in Frederick had an average of 11 days on market in Aug 2023, down by 18.6% compared to last year.

Breakdown of Home Sale Times

165 Homes Were Sold
Under 30 Days

16 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Frederick are selling fast, if you're buying plan to act quickly.

Summary: During August 2023, 182 homes were sold in Frederick; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 24 Days Ago

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