Is Frederick, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
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
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165K | $174.2K | +5.6% |
| 2 Bedrooms | $258.9K | $295.5K | +14.1% |
| 3 Bedrooms | $374.7K | $410K | +9.4% |
| 4 Bedrooms | $485K | $524.9K | +8.2% |
| 5+ Bedrooms | $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 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 668 | 659 | -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
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 97 | 105 | +8.2% |
| 3 Bedrooms | 324 | 318 | -1.9% |
| 4 Bedrooms | 188 | 171 | -9.0% |
| 5+ Bedrooms | 54 | 59 | +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 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 190 | 182 | -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
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 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 14 Days | 11 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
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.
