Frederick County Real Estate Market: A Seasonal Guide for Buyers and Sellers

When navigating the Frederick County housing market, timing can be everything. Whether you’re a buyer or a seller, knowing when to act can make a significant difference in achieving your real estate goals. Based on data from September 2023 to September 2024, here’s a breakdown of market trends, key metrics, and advice on how to make the most of current conditions.

1. Average Listing Price: What to Expect

Over the past 12 months, the average listing price in Frederick County was $610,780. This figure provides a baseline for buyers and sellers to gauge market conditions. While the average price reflects overall market activity, monthly variations show timing is crucial in real estate decisions.

2. When Are Homes Selling for the Highest Prices?

If you’re a home seller looking to maximize your sale price, the data shows that the spring and summer are your best bet. The highest sold prices occurred in:

• May 2024: $517,500

• July 2024: $500,000

• August 2024: $497,930

Conclusion for Sellers: Listing in the late spring or early summer will likely yield higher offers due to increased buyer competition.

3. When Are Homes Selling for the Lowest Prices?

For homebuyers, the winter months are prime time to find deals. Homes sold for the lowest prices during:

• December 2023: $450,000

• February 2024: $462,405

• March 2024: $468,878

Conclusion for Buyers: If you're looking for a better price, consider buying during winter when competition is lower and sellers are more motivated.

4. How Long Are Homes Staying on the Market?

On average, homes in Frederick County were on the market for 23 days. However, the time a house stays on the market varies significantly throughout the year:

• Fastest Sales: Homes sold the quickest in April 2024 (14 days), May 2024 (14 days), and July 2024 (18 days).

• Slowest Sales: In contrast, homes stayed on the market the longest in February 2024 (65 days), November 2023 (72 days), and December 2023 (79 days).

Conclusion for Sellers: If you need to sell quickly, aim to list in spring or early summer, when homes are selling in under three weeks. For buyers, the winter months give you more time to negotiate, with properties lingering on the market for over two months.

5. Year-Over-Year Comparison: Are Homes Selling Faster or Slower?

A comparison between September 2023 and September 2024 shows a clear trend: homes sell faster. In September 2023, the average days on the market were 28 days, while in September 2024, homes sold in just 18 days.

Conclusion: The market is moving faster, indicating higher buyer demand and lower inventory. Sellers should capitalize on this momentum, while buyers need to act swiftly.

6. Best Time to Sell a Home Fast in Frederick County

Based on the data, the best months to sell quickly are:

• April 2024: 14 days

• May 2024: 14 days

• July 2024: 18 days

Conclusion for Sellers: Listing in April or May 2024 will likely result in a fast sale, with homes staying on the market for just two weeks.

Additional Insights for Homebuyers

1. Winter is a Buyer’s Market

The winter months (November 2023 to February 2024) saw the lowest prices, with homes selling for $450,000 in December 2023. Buyers have more time to make decisions during this period, as homes take longer to sell (up to 79 days).

Strategy for Buyers: If you’re looking for a deal and don’t mind a slower process, winter offers more negotiating power and less competition.

2. Spring and Summer Demand Higher Offers

As the weather warms, so does the market. Prices peaked in May 2024 at $517,500, reflecting stronger buyer demand. Homes sold much faster during this period, with April and May 2024 averaging just 14 days on the market.

Strategy for Buyers: Be prepared to act quickly during the spring and summer, as homes move fast and competition is fierce. Having financing pre-approved will give you an edge in securing your dream home.

Additional Insights for Home Sellers

1. Maximize Your Sale Price in May 2024

The highest median sold price was in May 2024 ($517,500). If you want to get the best price for your home, this is the month to aim for.

Strategy for Sellers: To attract higher offers, make sure your home is market-ready by April and list it in May, when demand is at its peak.

2. Consider Winter Listings Carefully

If you need to sell during the winter months, keep in mind that prices are lower and homes stay on the market longer. The lowest median sold price was $450,000 in December 2023.

Strategy for Sellers: If selling in winter is unavoidable, set realistic price expectations and be prepared for a longer selling process. Enhancing your home’s appeal with effective marketing or upgrades may help attract more buyers despite the season.

3. Balanced Summer Inventory

The summer inventory stayed relatively stable, with moderate competition among sellers. The monthly supply of Inventory (MSI) hovered around 1.5-1.7 months during this period, indicating a balanced market.

Strategy for Sellers: Although summer brings competition, it brings more buyers. Make your property stand out with professional staging or strategic pricing to capture buyer attention.

Conclusion: Timing is Everything in Frederick County

The Frederick County housing market shows clear seasonal trends. Spring and summer are the best times for sellers, offering faster sales and higher prices. Meanwhile, winter presents opportunities for buyers seeking better deals and more negotiation time. Whether you’re buying or selling, understanding the market’s timing will help you confidently achieve your real estate goals.

By leveraging these insights, buyers can secure their dream homes at the right price, and sellers can maximize their returns while minimizing time on the market.

Data/Stats courtesy of Bright MLS, Inc. from September 2023 - September 2024