Category:market stats

Two Minute Deep Creek Market Update

Taylor-Made Deep Creek Sales

Here’s a quick overview of the Deep Creek Lake real estate market as of April 14, 2023.

• Average sold price lake area residential – Average: $1,002,723, Median: $639,500
• Number of sales pending for Garrett County – 55 (28 went under contract in March)
• Number of homes for sale Garrett County – 133 (51 were listed in March, down from 5 year average which is 66)
• Number of sales closed Garrett County – 37, down from 5 year average of 46

Written by Admin on April 17, 2023. Posted in Deep Creek Lake Real Estate, Market

February 2015 Market Stats - Garrett County

The official February market stats are now online & available for download. Keep up to date with ALL of the relevant Garrett County market stats here on the blog.

The good news: the total number of sold properties increased over last February, there are less active listings available (meaning that we are burning through extra inventory), and new pending sales (under contract) have increased dramatically.

The bad news: The average sales price for February has decreased and the average days on market (DOM) is up dramatically.

More statistics here – if you want something specific or are looking for more information about YOUR property, call me anytime to discuss 301-501-0420:

The Last Year of Market Stats for Garrett County, Maryland

Average LIST Price versus SOLD Price over the last 12 months:

September 2011 Real Estate Sales Statistics - Residential

36 homes sold in September 2011, down slightly from September 2010, where we sold 39 homes and up from August, where we sold 31 homes.

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

There are 67 homes under contract right now (73 last month).

The average list vs. ORIGINAL sales price was 82.04% – down from last month (85.39%).

The ADJUSTED list vs sale price was 88.43%, also down from last month (92.91%).

The current # of active/for sale listings in MRIS (minus timeshares) is 738, down from last months 785. We have a 20.5 month supply of homes available (minus timeshares) based solely on the September sales numbers. This number is down significantly from last month’s 25.32 month supply.

Random observations:

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

•It appears that 20 or so of these sales were vacation homes

•20 homes sold under $300,000 (last month was 19)

•25 homes sold under $400,000

•1 home sold over $ 1 million (1 home last month)

•1 home sold for higher than full price or at full price (last month was 4)

•One house sold for 70.79% of asking price – 143 Walnut St in Friendsville

•The oldest home that sold was 121 yrs old

•The average age of the homes that sold was 31 years (32 last month)

•8 condo/townhouse properties sold (7 last month)

Here are the statistical breakdowns:

Average Sale Price: $359,760 (last month $292,561)

Average Days on Market: 210/314 (last month 201/224) (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!

>2010 Year in Review - Real Estate Stats

>A further review of the 2010 Garrett County & Deep Creek Lake market statistics and how other brokers fared during 2010:

http://www.ilovedeepcreek.com/market_updates/2010-real-estate-stats.pdf

Railey Realty is #1 in Garrett County & Deep Creek Lake. We have the most comprehensive marketing plan and the best online presence – 2 essential ingredients to success when buying or selling real estate.

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!

October 2010 Real Estate Market Update - Sales Stats

Another strong month of real estate sales in October. There were 31 homes that sold (versus 28 in October 2009). There are 49 homes under contract (down 1 from last month), which is a very pleasant surprise to see at this point in the year.

Normally, the time between fall & winter is a bit slower, as kids are back in school, the weather is MUCH cooler, and there isn’t any snow on the ground for skiing. So, I’ll take it as a positive sign that the real estate market is getting stronger! Historically low interest rates are fueling some of this activity, as several of my clients currently have mortgages with rates in the upper 3% range – AMAZING.

The average list vs. ORIGINAL sales price was 85.31%, up from last month (82.63%).

The ADJUSTED list vs sale price was 91.31%, up from last month (89.63%).

The current # of active/for sale listings in MRIS (minus timeshares) is 654, down from last months 751. This number drops dramatically during the late fall & winter months, as some owners choose not to show their home in the winter time, or they take it off the market to ‘reset’ the days on market. It skews the supply stats, as now we have a 21 month supply of homes available.

Random observations:

• Again, 9 ‘newer’ homes that sold in October (less than 5 years old)
• 820 Holy Cross was a $2 million+ sale, showing again, that the lakefront market still has a lot of value
• It appears that 25 or so of these sales were vacation homes
• 13 homes sold under $300,000 (last month was 24)
• 21 homes sold under $400,000
• 1 house sold over $1million
• 2 homes sold for full price
• One house sold for 75% of asking price
• There was a cabin on Old Chestnut Rd (off Glendale) that is 70 years old – WOW.
• The average age of the homes that sold was 18 years
• 2 sales at Wisp Resort – one at Kendall Camp (full price $740,000) & the other at the Wisp Hotel
• 5 condo’s/townhouse properties sold, same as last month

Here are the statistical breakdowns:

Average Sale Price: $398,117 (last month $317,014)

Average Days on Market: 127/167 (last month 187/226) (days on market with current broker/total days on market)

Based on the recent stats, I think it’s safe to say that it’s getting better! We still have a long way to go, but we are on our way!

How Railey Realty fared in the coming days…

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!

Local Real Estate Market Update - Garrett County

Some of the stats:

• Closed sales is up 7.4% (YTD), 18.2% in July
• Pending Sales is up 9.6% (YTD), 22.2% in July
• Median Sales Price -4% (YTD), -1.4% in July
• % of Original Price – 0.6%(YTD), +0.2% in July
• Average Days on Market +3.8% (YTD), +49.6% July

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!

Year to Date Real Estate Stats - Railey still #1

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!