February 2020 Housing Market Update

Dated: March 12 2020

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Spring is always hailed as a busy time in real estate. The current COVID-19 pandemic and the state of the economy has some people nervous. I can only make predictions as to what I think may happen, but first let's talk about the numbers from February in Frederick County. 

Active Listings: 676
New Listings: 496
New Pendings: 495
Units Sold: 289
Avg. List Price: $341K
Avg. Sold Price: $337K
Days on Market: 55 Days

The market continues to be a Seller's Market. Inventory is still low and buyers are still competing for the houses that are available. 

The biggest thing I notice about these numbers is that 496 new listings came on the market in February and 495 houses went under contract. The average days on the market is 55, so don't think all of those new listings were the same ones that went under contract, but those numbers do indicate that people are eagerly looking to buy which is a good sign for the coming months. 

As we enter the Spring market I predict we will see an increase in inventory. This is great for buyers to have more homes to choose from, but as a seller that means more competition. 

In light of what is going on in the world from the pandemic of COVID-19, an unsure economy. Please just remember this is temporary. People will still need homes, have life changes, relocate, etc. We may see a slower start or we may not, only time will tell.

For now let's just all remember to wash our hands.

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Amanda Addington

Amanda Addington has over 19 years experience in the residential real estate industry and holds a Bachelor's Degree in Business Management. She has been a licensed REALTORĀ® for 11 years with over $70....

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