Urbana Maryland Real Estate Market Report

http://www.reallynicehomes.com/blog/frederick-county-maryland-real-estate-report-homes-sale/

Urbana Maryland 

Frederick County Maryland and Urbana Maryland  Real Estate Report & Homes For Sale for October 2012

 CLICK HERE TO SEARCH FOR URBANA HOMES FOR SALE 

We hope you that will find the following snapshot of Urbana Maryland Real Estate Market & inventory interesting. These charts  represent the condition of our local market here in Frederick County Maryland and an easy explanation. .

Let's Begin. . 

Something to note right away. . .these charts represent the state of the market YEAR over YEAR for the last 5 YEARS.

Explanation: The first chart depicts the average days you will expect a listing to last when it comes for sale.

What Does It Mean? :As you can see, we are at the lowest areas for the last 5 years. Listings are becoming scarce as more buyers seem to take advantage of the low interest rates

Explanation: The AVERAGE sold PRICE in the last five years vs the Median SOLD PRICE.

What Does It Mean? :As you can see, these two come hand in hand, but the most important factor is that show signs of normalcy. .  is the fact that we have slowly progressed in the last 5 years to what we were in 2007 

Explanation: The first chart depicts the Median Sold Price and the second shows that Average SOLD price. .what is the difference?

What Does It Mean? :It is just two different ways to find the average SOLD PRICE on homes at any given moment. An average is the sum of all SOLD every year and divided by 5 . . and the median just measure the  middle trend without becoming askew in case of an unusual SOLD price that is not representative to the local market. 

Check the FULL Frederick County Maryland Real Estate Report Here

If you know someone who is considering buying or selling a home in Frederick County or any nearby areas.. please give us a call. We will provide professional & courteous service along with knowledgeable guidance through the process in buying or selling real estate.

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Frederick County MD Real Estate 

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Villages Of Urbana Latest Listings

$450,000

3847 GLASGOW WAY, Frederick

Brick Front Colonial. 2-Story Foyer, Main Lvl Study, FamilyRm W/FP, Kitchen W/Breakfast Room, Jenn-Air Cooktop In Island. Formal Living & Dining Rm W/Hrdwd, Crown/Chair M...

• Beds 4
• Baths 4.0
• MLS FR7859729

$323,740 ?

3578 WORTHINGTON BOULEVARD, Urbana

NV Homes is reintroducing the Vanderbilt floorplan, our 2220 sq feet townhome! Our townhomes are conveniently located next to the Urbana Market District & include Granite...

• Beds 3
• Baths 3.0
• MLS FR7936538

$300,000

9424 SINGLETON PLACE, Frederick

APPROVED SHORT SALE PRICE- PREVIOUS CONTRACT FELL THROUGH. Great condition 3BD/ 2.5B 3 level town home. 9" ceilings, hard wood floors, recessed lighting. Gorgeous kitche...

• Beds 3
• Baths 3.0
• MLS FR7810853

 CLICK HERE TO SEARCH FOR URBANA HOMES FOR SALE 

The Appraisal Factor (X-FACTOR) that may derail the recovery?

http://www.reallynicehomes.com/blog/appraisal-factor-x-factor-may-derail-recovery-urbana-md/

Urbana MD Real Estate Market Report

The Appraisal Factor  (X-FACTOR) that may derail the recovery?

For a long time the so called experts in the real estate market have been predicting an extremely long rebound in the housing market in areas like Urbana Maryland in Frederick County because of the "Shadow Inventory" looming behind the scenes.
This predicted new wave of new inventory was supposed to crush the housing market in Maryland and slow down any momentum that was generated by the Spring and Summer markets of 2011, 2012. To my surprise after seeing the numbers year to year for August 2011 to 2012 . .

"I think the shadow inventory is not really the cause but our market specifically  in Urbana is really sucking right about now!"

The shadow inventory has not materialized  yet there is another factor that is stopping the growth besides the sluggish local economy . The X Factor here may be the appraisals. Appraisals are coming low and killing deals all over Maryland right now. In newer communities like the Villages of Urbana, this is significant because of the time in between sales. In an older neighborhood, someone selling a home 20 years later does not have problems adjusting the final sales price to the appraised value. 

The good news is that we should be looking to a healthy 2013 after we get over this hump.
The market itself will pressure the appraisals to raise prices, together with the decline of short sales and foreclosures in the area. The evidence of this is already showing in many places in Maryland. 

Looking at the cart below, the most significant number is the "Median Sold Price" being 26.48 % LOWER compared to last year.
This affects home prices across the board and one of the reasons why appraisals are coming low.

The average Sold in 2011 was $482,890
The average Sold in 2012 is $355,000

Big difference!


According to the chart below, we have definitely started to see a measurable down trend but do not panic yet. . 
Days on the market is down from 77 to 51, meaning more buyers out there.
Also, the actual average SOLD price is only down 9.71%, a good sign.

In 2013, interest rates will most likely still be at record lows pushing renters in purchasing homes all over Frederick County. ..  in cities such as Urbana Maryland this will push prices higher.

New Villages of Urbana Listings: All Urbana homes, townhouses  and condos listed within the last 7-days
Expand your search and obtain absolutely the latest listings here

Are you a selling in Urbana?  we do understand where you stand. . .unless you really, really need to sell, we are advising our clients to wait until 2013 . .but just in case you need help now

Villages of Urbana Maryland Real Estate Latest Listings

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Urbana MD

Really Nice Homes For Sale

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Urbana, Maryland Homes

Urbana is the fastest growing community in Frederick County. Located at the southern edge of the county just bordering Montgomery County, Urbana is ideally located on I-270 midway between Baltimore and Washington, DC, giving easy access to both.

Named the "2009 Best Selling Community in Maryland", Urbana not only includes showcases the newest and best that Frederick County has to offer, but also has a brand new three story 25,000 square foot library, several newly installed public swimming pools, pleny of tennis and basketball courts, new shopping centers, and a just opened district park.

Villages Of Urbana Latest Listings

$353,640

3597 SPRIGG STREET S, Urbana

NV Homes is now offering only 15 of our 24 ' wide townhomes in the Heart of Urbana w/in walking distance to the Villages of Urbana Town Center. This unbelievable opportun...

• Beds 3
• Baths 3.0
• MLS FR7901847

$249,998 ▼

9520 HYDE PLACE Unit #9520, Frederick

Gorgeous 2007 NVR Built 2 Level Condo! Granite Counters, Beautiful Black Appliances, HUGE Breakfast Bar, Hardwoods, Ceramic, OPEN LAYOUT! 2 WIC MASTER! 2nd Level Table Sp...

• Beds 3
• Baths 3.0
• MLS FR7900873
• Bldg. Villages Of Urba

$295,000

3710 HOPE COMMONS CIRCLE, Frederick

Fully bumped out 3 level Ryan Fairmont townhouse with brick front. Upgraded kitchen cabinets and corian counters. Morning room extension with fireplace. Master suite w...

• Beds 4
• Baths 4.0
• MLS FR7900800

$410,000

9646 BOTHWELL LANE, Frederick

Better than new! This one has it all! 3 Beautiful levels, 3 bdrms, including huge master bdrm, 2 full and 2 half baths, enormous light-filled kitchen with granite counte...

• Beds 3
• Baths 4.0
• MLS FR7900564

$339,000

9540 HYDE PLACE Unit #9540, Frederick

Luxurious Ryan Picasso Model Home! Loaded w/ designer features incl. upgraded tile, carpet, lighting, trim, cabinets, appliances, countertops, window treatments, etc. Y...

• Beds 3
• Baths 3.0
• MLS FR7900474
• Bldg. Villages Of Urba

$475,000

3913 ADDISON WOODS ROAD, Frederick

Property shows like a model home. Wood floors on the main level, beaded wood on the front porch ceiling, custom Brazilian hardwood deck, granite counter tops, stainless ...

Here at Herboso & Associates, we understand what an important decision is finding just the right home . .
Our agents are committed to finding just the right place for you, your family, and even your beloved pets.
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