If you’re willing to drive a little way from the District and its nearest suburbs, three counties in Maryland are offering homebuyers affordable prices and an easier shopping experience than they’ll find closer to the Beltway.
The counties are Frederick in the north, Anne Arundel to the east, and Charles down south. Although they have numerous differences as communities, homebuyers will find that each offers a similar level of competition and affordability.
Generally speaking, this means buyers will find more available homes at lower prices. Sure, you can drive farther and pay less, but if you want to be in the Washington metro area without paying Montgomery or Arlington county prices, these three counties are good options.
In March, the median sales price for all housing types was between $225,000 and $290,000 in Frederick, Charles and Anne Arundel. By contrast, the median price in Montgomery County was $322,000, and Arlington was the region’s most expensive jurisdiction at $430,000.
Because the outlying counties of Maryland are more affordable, they have long attracted the attention of buyers fleeing the congestion and expense of inside-the-Beltway communities.
Buyers will find not only lower prices, but also less competition from other home shoppers. Sales chances have shot up into the 30s in Montgomery and several Virginia jurisdictions but remain lower in Frederick, Charles and Anne Arundel.
(Dividing sales figures for the month by the inventory on the last day of the month results in a percentage, which I call “sales chances.” A figure below 20 percent indicates a buyer’s market. Higher figures mean we’re in a balanced market or a seller’s market.)
Sales chances were 17 percent in Anne Arundel County, making it one of the region’s easiest places to buy a home in March. With 3,781 homes from which to choose and just 645 sales all month, buyers could take their time without fear of another buyer snatching up their favorite home.
Meanwhile, buyers in Montgomery County faced sales chances of 33 percent, which meant they had to act aggressively if they wanted to beat out other buyers.
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