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March 2012 Market Update – Residential

20 properties sold in March 2012, up 4 from last month. Last year there were 22 homes that sold in March.

Let’s take a look at the rest of the stats:

There are 44 homes under contract right now (48 last month).

The average list vs. ORIGINAL sales price was 77.80% – (last month 82.16%).

The ADJUSTED list vs sale price was 90.58 (last month 89.82%).

The current # of active/for sale listings in MRIS (minus timeshares) is 591, up from last months 575. We have a 29.55 month supply of homes available (minus timeshares) based solely on the March sales numbers.

Random observations:

•5 ‘newer’ homes sold in March (5 years old or less)

•It appears that 15 or so of these sales were vacation homes

•11 homes sold under $300,000 (last month was 8)

•15 homes sold under $400,000 (last month 12)

•0 homes sold over $ 1 million (0 last month)

•3 homes sold for higher than full price or at full price (last month was 0)

•One house sold for 48.82% of asking price – 131 Mountain Overlook Ct #9

•The oldest home that sold was 108 yrs old (34 4th St)

•The average age of the homes that sold was 24 years (27 last month)

•6 condo/townhouse/fractional properties sold (5 last month)

Here are the statistical breakdowns:

Average Sale Price: $293,150 (last month $278,250)

Average Days on Market: 272/297 (last month 199/227) (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!

877-563-5350 – toll free

January 2012 Real Estate Sales – Residential

27 properties sold in January 2011. Sales were up considerably from January 2011 (18) and up from last month’s 20 sales.

Let’s take a look at the rest of the stats:

There are 46 homes under contract right now (46 last month).

The average list vs. ORIGINAL sales price was 78.69% – (last month 87.77%).

The ADJUSTED list vs sale price was 86.67 (last month 91.43%).

The current # of active/for sale listings in MRIS (minus timeshares) is 562, down from last months 598. We have a 20.8 month supply of homes available (minus timeshares) based solely on the January sales numbers. (Last month was a 29.9 month supply).

Random observations:

•5 ‘newer’ homes sold in January (5 years old or less)

•It appears that 18 or so of these sales were vacation homes

•17 homes sold under $300,000 (last month was 14)

•19 homes sold under $400,000 (last month 15)

•1 homes sold over $ 1 million (0 last month)

•1 home sold for higher than full price or at full price (last month was 3)

•One house sold for 65.66% of asking price – 223 Old Crellin Rd

•The oldest home that sold was 102 yrs old (755 Sanders Ln)

•The average age of the homes that sold was 26 years (34 last month)

•3 condo/townhouse properties sold (4 last month)

Here are the statistical breakdowns:

Average Sale Price: $$333,937 (last month $276,290)

Average Days on Market: 250/264 (last month 117/150) (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!

877-563-5350 – toll free

August 2011 Real Estate Market Update – Deep Creek Lake & Garrett County MD

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!

877-563-5350 – toll free

>Just Sold – 199 Upper Highline Dr – GA6808486

>We just closed on this short sale/REO property yesterday evening for $630,500 ($650,000 with 3% buyer credit). Overall, an incredible buy – indoor swimming pool, 5 master suites & BIG views of the lake & mountains. The property is available as a vacation rental & I will be posting more details soon.

“Ski & Glee” features a full arcade with games ranging from Punch-Out & pinball machines to dual Crusin’ Exotica racing & more! It also offers 2 Xbox systems with Kinect & the latest movies through the Xbox & PC setup. In addition to the heated indoor pool, there will soon be a sauna. If you are in the market for a vacation rental, you won’t want to miss this house!!! I’ll keep you posted with more details in the coming weeks 🙂

If you are thinking of 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! 877-563-5350

Deep Creek Do It All specializes in cleaning services in Garrett County & @ Deep Creek Lake. Give them a call (301-501-0217) or visit the website – competitive rates and quality results from a locally owned & operated company!