Lochearn First-Time Homebuyer Report for October

Lochearn is a small city in Maryland with a median income of $60,464 per household. Besides being somewhat affluent, its population is younger than others with a median age of 40 years. Detached homes account for 96% of the area's current housing market. The best school in the city is Sudbrook Magnet Middle School.

Culture

According to Foursquare, Dunkin Donuts is the most popular spot to grab a cup of coffee in Lochearn. If you'd like to shop, some popular places are Family Dollar and Dollar General. And finally, recommended places to eat are Dunkin Donuts, KFC, and Ding Ho.

Price Range

Homes in Lochearn are generally less expensive than others in the state with a median home value of $154,000 and an average list price of $208,534. With 30 homes sold in the Lochearn market over the last 30 days, we see no change from last week's numbers. In addition, there was no shift in the amount of sellers who came into the market in the same time frame, with 27 new listings for buyers to choose from.

Curious as to which homes have been getting the most attention in Lochearn? These listings have stirred up interest and produced the most views:

$251K   $169K   $115K  

Typical Dwelling

A three-bedroom detached home valued around $180,668 is considered a typical dwelling in Lochearn. If a buyer was looking for a similar home, they would need good credit and a $36,134 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $980 and the property tax rate is $13.08 per $1,000 of taxable assessed value.

Get started right now by checking out Lochearn homes for sale or reviewing Lochearn real estate trends.


Data reported through 10/13/2016

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