market update – Jay's Real Estate Blog

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:

August 2012 Real Estate Market Update – Residential

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!

877-563-5350 – toll free

—

Search Homes/Lots for Sale

July 2012 Real Estate Market Update – Residential

22 properties sold in July 2012, down slightly from last July’s 24 sales. Properties sold for over 90% of asking price again this month. There are even reports nationally of the average asking price increasing in some areas – that’s a good sign for sellers.

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

There are 61 homes under contract right now (62 last month).

The average list vs. ORIGINAL sales price was 85.16% – (last month 86.69%).

The ADJUSTED list vs sale price was 90.13 (last month 92.58%).

The current # of active/for sale listings in MRIS (minus timeshares) is 622, down from last months 685. We have a 28.27 month supply of homes available (minus timeshares) based solely on the July sales numbers.

Random observations:

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

•It appears that 14 or so of these sales were vacation homes

•16 homes sold at/under $300,000 (last month was 18)

•17 homes sold under $400,000 (last month 21)

•0 homes sold over $ 1 million (1 last month – 1931 Lake Shore Dr sold for $1.849)

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

•One house sold for 54.49% of asking price – 5 Dewey Roy Ln

•The oldest home that sold was 137 (!) yrs old (2899 Pocahontas Ave)

•The average age of the homes that sold was 37 years (27 last month)

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

Here are the statistical breakdowns:

Average Sale Price: $265,771 (last month $364,821)

Average Days on Market: 235/277 (last month 252/283) (days on market with current broker/total days on market)

—

877-563-5350 – toll free

—

Search Homes/Lots for Sale

June 2012 Real Estate Market Update – Residential

33 properties sold in June 2012. That’s 8 more sales than last June, which is great! I had mentioned previously in other blog posts that this is the most active real estate market since 2008. Well, we are now on a better pace – best year-to-date since 2007. Lakefront prices are at their most affordable prices since 2004. All in all, it’s been a great year so far.

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

There are 62 homes under contract right now (57 last month).

The average list vs. ORIGINAL sales price was 86.69% – (last month 84.91%).

The ADJUSTED list vs sale price was 92.58 (last month 88.33%).

The current # of active/for sale listings in MRIS (minus timeshares) is 685, up from last months 662. We have a 20.76 month supply of homes available (minus timeshares) based solely on the June sales numbers – that’s as low as i remember it for quite some time!

Random observations:

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

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

•18 homes sold at/under $300,000 (last month was 12)

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

•1 homes sold over $ 1 million (0 last month – 1931 Lake Shore Dr sold for $1.849)

•4 home(s) sold for higher than full price or at full price (last month was 2)

•One house sold for 57.58% of asking price – 8956 Oakland Sang Run Rd

•The oldest home that sold was 58 yrs old (72 Mels Rd)

•The average age of the homes that sold was 27 years (33 last month)

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

Here are the statistical breakdowns:

Average Sale Price: $364,821 (last month $312,571)

Average Days on Market: 252/283 (last month 147/224) (days on market with current broker/total days on market)

—

877-563-5350 – toll free

—

Search Homes/Lots for Sale

May 2012 Real Estate Market Update – Residential

23 properties sold in May 2012, down one sale from April 2012, and down 4 sales off last year’s pace. The really great news, though, is that year-to-date, 2012 has been our most active real estate market since 2008.

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

There are 57 homes under contract right now (49 last month).

The average list vs. ORIGINAL sales price was 84.91% – (last month 82.25%).

The ADJUSTED list vs sale price was 88.33 (last month 89.13%).

The current # of active/for sale listings in MRIS (minus timeshares) is 662, up from last months 636. There are about 20 properties coming on the market each week this time of the year. We have a 28.78 month supply of homes available (minus timeshares) based solely on the May sales numbers.

Random observations:

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

•It appears that 14 or so of these sales were vacation homes

•12 homes sold at/under $300,000 (last month was 12)

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

•0 homes sold over $ 1 million (0 last month – though, we already have a nearly $2mil sale in June)

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

•One house sold for 51.85% of asking price – 171 Garrett Rd

•The oldest home that sold was 112 yrs old (210 Roanoke Ave)

•The average age of the homes that sold was 33 years (32 last month)

•3 condo/townhouse/fractional properties sold (2 last month)

Here are the statistical breakdowns:

Average Sale Price: $312,571 (last month $318,094)

Average Days on Market: 147/224 (last month 298/435) (days on market with current broker/total days on market) – this number took a HUGE dive this month, as there were 2 homes that sold after being on the market for 1,211 and 1,546 days, respectively, in April.

—

877-563-5350 – toll free

—

Search Homes/Lots for Sale

April 2012 Real Estate Market Update – Residential

24 properties sold in April 2012, up 4 from last month. Last year there were 21 homes that sold in April, so we beat last year’s number, as well.

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

There are 49 homes under contract right now (44 last month).

The average list vs. ORIGINAL sales price was 82.25% – (last month 77.80%).

The ADJUSTED list vs sale price was 89.13 (last month 90.58%).

The current # of active/for sale listings in MRIS (minus timeshares) is 636, up from last months 591. There are about 20 properties coming on the market each week this time of the year. We have a 26.5 month supply of homes available (minus timeshares) based solely on the April sales numbers.

Random observations:

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

•It appears that 19 or so of these sales were vacation homes

•12 homes sold at/under $300,000 (last month was 11)

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

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

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

•One house sold for 52.63% of asking price – 15 Maybury Ln

•The oldest home that sold was 128 yrs old (4743 Old Morgantown Rd)

•The average age of the homes that sold was 32 years (24 last month)

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

Here are the statistical breakdowns:

Average Sale Price: $318,094 (last month $293,150)

Average Days on Market: 298/435 (last month 272/297) (days on market with current broker/total days on market) – this number took a HUGE jump this month, as there were 2 homes that sold after being on the market for 1,211 and 1,546 days, respectively.

There are still some great deals out there, and some that aren’t so great – I can help you figure out which properties are good buys & why – call/email me for a free consultation of any properties you are interested in!

Search real estate for sale at Deep Creek Lake & Garrett County

877-563-5350 – toll free

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)

877-563-5350 – toll free

February 2012 Market Update – Residential Real Estate Sales

16 properties sold in February 2012. Sales were up considerably from February 2011 (9). In fact, this is the best February we’ve had in 5 years:

February 2012 – 16
February 2011 – 9
February 2010 – 6
February 2009 – 8
February 2008 – 18

Go figure – one of the worst winters on recent record and we have a great end-of-winter run. Perhaps we’re turning another corner? I blogged the other day about the 42 year high for the Housing Affordability Index – great info.

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

There are 48 homes under contract right now (46 last month).

The average list vs. ORIGINAL sales price was 82.16% – (last month 78.69%).

The ADJUSTED list vs sale price was 89.82 (last month 86.67%).

The current # of active/for sale listings in MRIS (minus timeshares) is 575, up from last months 562. We have a 35.93 month supply of homes available (minus timeshares) based solely on the February sales numbers.

Random observations:

•1 ‘newer’ home sold in February (5 years old or less)

•It appears that 12 or so of these sales were vacation homes

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

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

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

•0 homes sold for higher than full price or at full price (last month was 1)

•One house sold for 58.06% of asking price – 4396 Kempton Rd

•The oldest home that sold was 112 yrs old (4396 Kempton Rd)

•The average age of the homes that sold was 27 years (26 last month)

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

Here are the statistical breakdowns:

Average Sale Price: $278,250 (last month $333,937)

Average Days on Market: 199/227 (last month 250/264) (days on market with current broker/total days on market)

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)

877-563-5350 – toll free

December 2011 Real Estate Market Update – Residential

20 properties sold in December 2011. Sales were down considerably from December 2010 (34) and off from last month’s 29 sales.

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

There are 46 homes under contract right now (58 last month).

The average list vs. ORIGINAL sales price was 87.77% – (last month 81.51%).

The ADJUSTED list vs sale price was 91.43 (last month 90.56%).

The current # of active/for sale listings in MRIS (minus timeshares) is 598, down from last months 712 – (there is always a mass expiration of homes on Dec 31 every year). We have a 29.9 month supply of homes available (minus timeshares) based solely on the December sales numbers. (Last month was a 24.55 month supply).

Random observations:

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

•It appears that 13 or so of these sales were vacation homes

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

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

•0 homes sold over $ 1 million (3 last month)

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

•One house sold for 77.52% of asking price – 2928 Mosser Rd

•The oldest home that sold was 122 yrs old (271 Legeer Rd)

•The average age of the homes that sold was 34 years (37 last month)

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

Here are the statistical breakdowns:

Average Sale Price: $276,580 (last month $399,020)

Average Days on Market: 117/150 (last month 191/208) (days on market with current broker/total days on market)

877-563-5350 – toll free

Category: market update

February 2015 Market Stats – Garrett County

August 2012 Real Estate Market Update – Residential

July 2012 Real Estate Market Update – Residential

June 2012 Real Estate Market Update – Residential

May 2012 Real Estate Market Update – Residential

April 2012 Real Estate Market Update – Residential

March 2012 Market Update – Residential

February 2012 Market Update – Residential Real Estate Sales

January 2012 Real Estate Sales – Residential

December 2011 Real Estate Market Update – Residential

My Location

Deep Creek Media

Stay Connected