The ADJUSTED list vs sale price is 91.80% (again, excluding the obvious subsidy error) – up 2%from last month (89.53%).
The current number of active/for sale residential listings (minus timeshares) is 775 as of today, down from last month (791). Making a little bit of headway is better than none, but that’s still a 24 month supply of homes available, based on the August sales numbers. I highly doubt we can average that many sales per month, so expect this number to remain high.
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There were 5 ‘newer’ homes that sold this month.
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15 of the 32 homes sold for less than $300,000.
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Highest sale was $1.750 million at the Blakeslee.
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1 property sold higher than full price.
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17 of these sales were lake area or vacation homes.
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The rest (15) are primary residential homes scattered around Garrett County.
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The days on market stats were significantly lower on average – newer listings are the ones selling vs. homes that have been on for a significant time. Sometimes, homes can appear ‘stale’ to buyers and they won’t bother to look unless there has been a recent sales price adjustment.
Average Sale Price: $367,780 (last month $321,685)
Average Days on Market: 163/182 (last month 150/302) (days on market with current broker/total days on market).