32 properties closed in August 2012, up from last month’s 22 sales. Another month of sales over 90% of asking price, too.With interest rates creeping higher, more people decided to take advantage of historic low rates.
Let’s take a look at the rest of the stats:
There are 53 homes under contract right now (61 last month). This number typically winds down as summer ends and less vacation time.
The average list vs. ORIGINAL sales price was 85.91% – (last month 85.16%).
The ADJUSTED list vs sale price was 91.28 (last month 90.13%).
The current # of active/for sale listings in MRIS (minus timeshares) is 672, up from last months 622. We have a 21 month supply of homes available (minus timeshares) based solely on the August sales numbers.
Random observations:
•1 ‘newer’ homes sold in August (5 years old or less)
•It appears that 22 or so of these sales were vacation homes
•17 homes sold at/under $300,000 (last month was 16)
•22 homes sold under $400,000 (last month 17)
•0 homes sold over $ 1 million (0 last month)
•2 home(s) sold for higher than full price or at full price (last month was 1)
•One house sold for 44.17% of asking price – 312 Marsh Hill Rd
•The oldest home that sold was 142 (!) yrs old (722 Turkey Neck Rd)
•The average age of the homes that sold was 26 years (37 last month)
•4 condo/townhouse/fractional properties sold (3 last month)
Here are the statistical breakdowns:
Average Sale Price: $320,684 (last month $265,771)
Average Days on Market: 204/249 (last month 235/277) (days on market with current broker/total days on market)
—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!
