Is Frederick, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
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 in Frederick, MD
How much do homes in Frederick, MD cost?
Median Sold Price
$439,983
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Frederick have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in Frederick was $439,983 in May 2024, up 4.8% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $183.5K | $225K | +22.6% |
| 2 Bedrooms | $287K | $299.4K | +4.3% |
| 3 Bedrooms | $409.6K | $420K | +2.5% |
| 4 Bedrooms | $505.8K | $525K | +3.8% |
| 5+ Bedrooms | $675K | $735K | +8.9% |
Summary: Frederick housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.6%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 8.9%.
Housing Supply in Frederick, MD
How many homes are available in Frederick, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 488 | 556 | +13.9% |
Summary: The Frederick real estate market had 556 homes for sale in May 2024, a 13.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 92 | 92 | 0.0% |
| 3 Bedrooms | 209 | 258 | +23.4% |
| 4 Bedrooms | 126 | 131 | +4.0% |
| 5+ Bedrooms | 59 | 73 | +23.7% |
Summary: The Frederick housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 23.4%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 23.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 169 | 113 | -33.1% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
62 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Frederick, you could pay more than the asking price. 54.9% of homes here sold above asking price last month.
Summary: A total of 113 homes were sold or pending in Frederick in May 2024, down by 33.1% month-over-month. Of the 113 sold homes, 19% were sold under asking, 27% were sold at asking, and 55% were sold over asking.
Days on Market for Frederick, MD
How long does it take to sell a home in Frederick, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 15 Days | +13.2% |
Summary: Homes in Frederick had an average of 15 days on market in May 2024, up by 13.2% compared to last year.
Breakdown of Home Sale Times
97 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Frederick are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 113 homes were sold in Frederick; 86% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
