September Home Sales - Market Update - Deep Creek Lake
The ADJUSTED list vs sale price is 89.63% down 2% from last month (91.80%).
The current number of active/for sale residential listings (minus timeshares) is 751 as of today, down from last month (775). I expect this number to drop in the coming months, as most sellers remove their home from the market in the late fall/winter months, but even at this pace, it’s a 19 month supply of homes (last months pace was 24 month supply).
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There were 9 ‘newer’ homes that sold this month.
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There was a lakefront home that sold for $399,900
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24 of the 39 homes sold for less than $300,000.
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Highest sale was $1.150 million on Marsh Hill Rd.
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3 houses sold for full price.
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1 home sold for 50% of asking price – next lowest, 79%
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19 of these sales were lake area or vacation homes.
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The rest (20) are primary residential homes scattered around Garrett County.
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Average age of the home sold was 23 years old
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2 sales at Wisp Resort – one at Kendall Camp & the other at North Camp
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5 condo’s/townhouse properties sold
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2 sales above $1 million, both lakefront homes
Average Sale Price: $317,014 (last month $367,780)
Average Days on Market: 187/226 (last month 163/182) (days on market with current broker/total days on market).

Posted on 10/13/2010 in market update, real estate sales, Uncategorized