Downtown Frederick Real Estate Bulletin

Homes Selling Faster -Low DOM( Days on Market)

Homes with the fewest days on market (DOM) generally meet the following criteria:

• Price Range: $300,000 - $700,000

• Condition: Move-in ready, updated, or newer properties

• Size: Typically under 2,000 sqft

• Build Year: Newer builds (post-1950) or well-maintained older homes

• Example Listings:

  • 207 Thomas Ave (1 DOM, $400,000, 1,551 sqft, built 1952)

  • 252-B S Carroll St (1 DOM, $799,900, built 2024)

  • 15 W 5th St (2 DOM, $629,900, 1,500 sqft, built 1900)

  • 35 E All Saints St #305 (2 DOM, $715,000, 1,596 sqft, built 2007)

Common Traits of Faster-Selling Homes

• Well-maintained properties in established neighborhoods.

• Competitive pricing (aligned with the market).

• Move-in ready condition or recent renovations.

• Newer construction or recent updates in kitchens, bathrooms, or major systems.

Homes Staying on Market Longer (High DOM)

Listings with over 50+ DOM typically have:

• Price Range: $475,000 - $1,999,000

• Size: Larger homes (2,500+ sqft)

• Build Year: Older homes (Pre-1950) with limited updates

• Condition: Some needing updates or with unique layouts

• Example Listings:

  • 208 / 210 Broadway St (108 DOM, $475,000, 1,650 sqft, built 1910)

  • 231 E 5th St (133 DOM, $399,900, 1,184 sqft, built 1910)

  • 200 E Church St (58 DOM, $1,150,000, 3,308 sqft, built 1880)

  • 207 Rockwell Ter (1 DOM, $1,999,000, 4,021 sqft, built 1913)

Common Traits of Slower-Selling Homes

• Higher price points ($800,000+ often have a smaller buyer pool).

• Older homes needing updates (pre-1950 with limited renovations).

• Large square footage (3,000+ sqft homes often take longer to sell).

• Unique properties that may not appeal to a broad buyer audience.

Price Trends: Are Listings Declining in Price?

• Overall trend: Median listing prices are showing signs of decline.

• Active listings: The median list price has dropped compared to previous months.

• Closed sales: Some homes have been closing below the original list price.

• Listings with price drops: More sellers are reducing prices to attract buyers.

Examples of Price Reductions

• 246 S Carroll St (127 DOM, Listed $399,000, Sold for $390,000)

• 8 E Church St (199 DOM, Listed $749,000, Sold for $695,000)

• 312 N College Pkwy (311 DOM, Listed $1,300,000, Sold for $1,150,000)

• 2 Maxwell Sq (279 DOM, Listed $659,900, Sold for $620,000)

Factors Contributing to Price Declines

• Increased inventory: More listings give buyers more options.

• Slower buyer activity: Fewer showings and contracts being signed.

• Affordability concerns: Buyers are more price-sensitive due to mortgage rates.

Key Takeaways

• Homes priced competitively under $700,000, updated, and move-in ready sell quickly.

• Larger, older, or high-end homes ($800,000+) take longer to sell.

• Many sellers are reducing prices after extended time on the market.

• Buyers have more negotiating power in the current market.