Housing market statistics for Frederick County are just now being released for the month of October – and we couldn’t be more thrilled to see these positive home sales numbers!
The number of home sales measured in at 240 in Frederick County during October, an increase from the 226 in September. The total number value of the homes sold reached $64 million, as reported by the RealEstate Business Intelligence. The average home price was also impressive at $289,457.
Healthy home prices and an increase in home sales are always good signs for the Frederick area. They can indicate further improvements in the local economy and will help to encourage even more families to buy new homes.
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And, to add to the great local news, the National Association of Home Builders (NAHB) announced that new home sales in October were up across the country. In fact, sales increased as much as 25 percent from the September lows. All four regions of the U.S. showed significant increases, either pushing numbers back into healthy ranges or going far above the second quarter readings. This type of positive housing market activity is rare for this time of year and many are excited to see what 2014 holds.
Lawrence Yun, NAHB chief economist, projects 2014 to be a very productive year in real estate. In a published report, Yun states that home sales are expected to remain healthy and that prices could increase in 2014. We can also expect to see a slight inventory shortage in the spring of 2014, while we wait for new home construction to catch up with home sales.
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The new data certainly shows an exciting trend: more people are returning to the housing market and buying homes. But there’s no telling how long the housing market will maintain these favorable buying conditions, so many are moving as quickly as they can.
So, what’s a potential homebuyer in Frederick to do? Buy a home in Villages of Urbana, of course! This is a perfect opportunity for new home shoppers who have been waiting for the right time to jump in the market. In Villages of Urbana, homeowners have access to some of the best amenities and neighborhood features in the area. Our market district includes various shops and eateries, as well as a state-of-the-art library. Residents can enjoy community centers, pools, tennis courts, and hiking and biking trails. With an incredible community like Villages of Urbana, it’s no wonder home sales have done so well in our area!
Sources: The Frederick News-Post, NAHB
