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9 lot/land sales in Garrett County in May 2011. Financing for lots is difficult to find nowadays, certainly with less than 30-50% down. That, coupled with the huge supply of homes available, continues to affect lot/land prices.
There are currently 602 lot/land listings in Garrett County. There have been 32 sales so far this year, so we are a little over 5 sales on average per month.
Here’s a quick look at the May sales:
.62 acre building lot on S 8th St in Oakland (commercial or residential zoning) sold for $3,000 – asking price was $5,000.
6.5 acres on Sand Flat Rd at Moss Creek – sold for $25,000. Many lots in this subdivision recently dropped asking prices in half, and then sold for a little more than half of that price.
3 lots sold in the Pleasant Valley subdivision of Swan Meadow – $70,000 each for 10 acres.
69 acres on Sanders Lane (near Herrington Manor) sold for $155,000
Lot 26 at North Camp (Wisp ski front community) sold for $250,000
If you or someone you know is considering buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.
