31 homes sold in August, down slightly from August 2010, where we sold 32 homes and up from July, where we sold 24. It was one of the better months we’ve had recently, and low interest rates should continue to fuel real estate growth.
Let’s take a look at the rest of the stats:
There are 73 homes under contract right now (64 last month).
The average list vs. ORIGINAL sales price was 85.39% – down from last month (88.25%).
The ADJUSTED list vs sale price was 92.91%, up from last month (91.58%).
The current # of active/for sale listings in MRIS (minus timeshares) is 785, down from last months 810. We have a 25.32 month supply of homes available (minus timeshares) based solely on the August sales numbers. This number is down significantly from last month’s 33.75 month supply.
Random observations:
•7 ‘newer’ homes sold in August (5 years old or less)
•It appears that 18 or so of these sales were vacation homes
•19 homes sold under $300,000 (last month was 13)
•23 homes sold under $400,000
•1 home sold over $ 1 million (2 homes last month)
•4 homes sold for higher than full price or at full price (last month was 2)
•One house sold for 79.91% of asking price – 19 Maruca Dr
•The oldest home that sold was 101 yrs old
•The average age of the homes that sold was 32 years (23 last month)
•7 condo/townhouse properties sold (5 last month)
Here are the statistical breakdowns:
Average Sale Price: $292.561 (last month $404,750)
Average Days on Market: 201/224 (last month 163/190) (days on market with current broker/total days on market)
More in depth stats by price range, from our friends at RBIntel. These stats are updated daily, not monthly and include timeshares. So, our numbers will differ slightly.
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!
