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What's Going on in the Frederick MD Real Estate Market?
We are often asked where we think home prices are headed over the next year.
Recently, several national groups have published reports and given their predictions about the level of appreciation we can expect by the end of 2018 and into 2019:
Urban Land Institute: Survey respondents expect home prices to rise an average of 5.3 % in 2018 and 4.3 % in 2019, both above the 20-year average annual growth rate of 4.0 percent.
Home Price Expectation Survey: 4.1% in 2018
Clear Capital: Looking back, Year-over-year gains from mid-year 2017 to mid-year 2018 was 7%.
Forbes: Home price appreciation will slow to 2% over 2018
All five publishers are projecting a rise in home values through 2018 and 2019. Many project that home appreciation will slow down a bit compare to the last five years. But keep in mind, no one correctly predicted the increases we’ve seen in the last five years, especially the large jump in 2013.
Any increases are positive new to homeowners and would-be homeowners in Frederick and surrounding areas in Maryland. Remember, national statistics don’t really show us what’s happening locally.
Frederick Real Estate Market Trends
It’s Mid-Year 2018. So far in 2018, we’ve seen an average increase in:
average home price has increased 6.01% since the beginning of the year. ($331,581)
The median sale price increased 7.45% on average. ($308,500)
The Days on Market, or the time it took to sell a home decreased an average of 13.82% since January. 54 days on average.
The number of homes that sold was very close to last year, so far 1% fewer homes sold. 2133, compared to 2156 first half of last year.
Read the entire report:
I'm the Broker of eXp Realty in Maryland, I've been helping people move in and out of Central Maryland for over 25 years.....
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