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)

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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!

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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)

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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

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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)

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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

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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.

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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

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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

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

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

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)


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 2012. 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

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)

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

November 2011 Real Estate Market Update - Residential

29 properties sold in November 2011. Sales were up considerably from November 2010 (22 sales), but couldn't hold pace with last month's 36 home sales.

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

There are 58 homes under contract right now (69 last month).

The average list vs. ORIGINAL sales price was 81.51% - (last month 83.89%).

The ADJUSTED list vs sale price was 90.56 (last month 90.35%).

The current # of active/for sale listings in MRIS (minus timeshares) is 712, down from last months 728. We have a 24.55 month supply of homes available (minus timeshares) based solely on the November sales numbers. (Last month was a 20.2 month supply).

Random observations:

•2 'newer' homes sold in October (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 19)

•19 homes sold under $400,000 (last month 25)

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

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

•One house sold for 79.16% of asking price - 196 Main St

•The oldest home that sold was 112 yrs old (8736 George Washington Hwy)

•The average age of the homes that sold was 37 years (35 last month)

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

Here are the statistical breakdowns:

Average Sale Price: $399,020 (last month $309,621)

Average Days on Market: 191/208 (last month 174/224) (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!

877-563-5350 - toll free

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!

877-563-5350 - toll free

September 2011 Lot/Land Sales

4 lot/land sales in Garrett County in September 2011.

There are currently 584 lot/land listings in Garrett County. There have 62 sales so far this year, as of today.

Here's a quick look at the September sales:

HOYE CREST DR 4 ACRES GA7212408 $28,000
LOT 19 NORTH GLADE MEADOWS 3.36 ACRES GA7437327 $29,000
MOSSER RD LOT 2.48 ACRES GA7588229 $25,000
BECKMAN'S PENINSULA 1.18 ACRES 101' LAKEFRONT GA7621659 $525,000







If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!

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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

August 2011 Lot & Land Market Update

11 lot/land sales in Garrett County in August 2011.

There are currently 607 lot/land listings in Garrett County. There have been 62 sales so far this year, as of today.

Here's a quick look at the August sales:

More Moss Creek subdivision have now sold. 3 sales in August ranging from $20,000-$24,000 each. A few building lots sold in North Glade Meadows & the 11 ac 'Shingle Rocks' development off Stockslager Rd sold. Check the .pdf for the prices on the lot sales below:

SOLD GA7475877 Sand Flat Rd
SOLD GA7475885 Hunters Ridge Dr
SOLD GA7475894 Hunters Ridge Dr
SOLD GA7437309 Lot 8 North Glade Meadows
SOLD GA7437321 Lot 16 North Glade Meadows
SOLD GA7579554 Birchwood Dr
SOLD GA7679728 18 Aspen Court
SOLD GA6747177 Negro Mountain
SOLD GA6747178 Negro Mountain
SOLD GA7144802 123 Stockslager Rd
SOLD GA7617054 4 Grand Estates Dr



If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!

Visit the 'I Love Deep Creek & Garrett County group' on Facebook! News, events, photos, real estate, community, info, more! 1,750+ members & growing!

July 2011 Real Estate Market Update - Residential

24 homes sold in the month of July 2011 at Deep Creek Lake & Garrett County. Compared to last July, we were only 2 sales short. We are only down one transaction from June 2011 - overall, I think that's great. I believe that the vacation rental market trending down over the month of June in the past few years has an effect on the July sales numbers. If people aren't here on vacation, they aren't buying homes. Same thing for primary residential homes - kids are in school, sports & activities later and later every year. Of course, the market is changing, too. But, people are still buying real estate at Deep Creek Lake & in Garrett County.

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

There are 64 homes under contract right now (56 last month).

The average list vs. ORIGINAL sales price was 88.25% - UP a whopping 6.5% from last month (81.77%).

The ADJUSTED list vs sale price was 91.58%, up more than 3% from last month (88.28%).

The current # of active/for sale listings in MRIS (minus timeshares) is 810, up from last months 780. We have a 33.75 month supply of homes available (minus timeshares) based solely on the July sales numbers. This number is up from last month's 31 month supply.

Random observations:

•3 'newer' homes sold in July (5 years old or less)

•It appears that 17 or so of these sales were vacation homes

•13 homes sold under $300,000 (last month was 13)

•13 homes sold under $400,000

•2 homes sold over $ 1 million (5 homes last month)

•2 homes sold for higher than full price or at full price (last month was 2)

•One house sold for 68.92% of asking price - 122 Sand Spring Rd

•The oldest home that sold was 74 yrs old

•The average age of the homes that sold was 23 years (23 last month)

•5 condo/townhouse properties sold (1 last month)

Here are the statistical breakdowns:

Average Sale Price: $404,750 (last month $495,235)

Average Days on Market: 163/190 (last month 185/246) (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

June 2011 Market Update - Lot & Land Sales

13 lot/land sales in Garrett County in June 2011.

There are currently 610 lot/land listings in Garrett County. There have been 44 sales so far as of today, so we are a little over 7 sales on average per month.

Here's a quick look at the June sales:

As of our sales meeting this morning, all of the developer lots that we had listed in Moss Creek subdivision have now gone under contract or sold. The stream 'Deep Creek' has its start in the middle of this community - and lots were selling for $5k an acre, some better.

23 Cedar Ln - building lot in Yough Mountain Resort sold for $10,000

2.5 acre building lot in Serenity Estates in Grantsville sold for $39,000

3 lots at Roman Nose Spa with a tear-down house sold for $40,500 (estate sale)

1 acre building lot in Maple Del (Mayhew Inn Rd near Deep Creek Lake) sold for $25,000

Someone got a great deal on lake access lot with dock off Glendale Rd @ Sand Stones on the Lake $125,000

26.52 acres (steel building improvement) on Brobst Rd in Accident sold for $159,000


If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!

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June 2011 Market Update - Homes - Residential

25 homes sold in the month of June 2011 at Deep Creek Lake & Garrett County. Compared to last June, we were 7 sales short. A big part of this was the federal tax incentives to purchase & close on a home by June 30, 2010. All in all, the numbers this month are still very strong by comparison. The average sales price of homes last month was $495,235 - the highest it's been in quite some time & over $250,000 HIGHER than last month! Is that the end-all stat of the year? No - but it's still good news.

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

There are 56 homes under contract right now (53 last month).

The average list vs. ORIGINAL sales price was 81.77%, down from last month (82.43%).

The ADJUSTED list vs sale price was 88.28%, same as last month (88.28%).

The current # of active/for sale listings in MRIS (minus timeshares) is 780, up from last months 764. We have a 31 month supply of homes available (minus timeshares) based solely on the June sales numbers. This number is up from last month's 28 month supply.

Random observations:

•3 'newer' homes sold in June (5 years old or less)

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

•13 homes sold under $300,000 (last month was 21)

•14 homes sold under $400,000

•5 homes sold over $ 1 million (5 homes @ $1mil is a HUGE part of that $495k+ average sales price)

•2 homes sold for higher than full price or at full price (last month was 2)

•One house sold for 18.31% of asking price - 123 Center St W (this really skews the numbers but I left it in - the sellers sold to a family member for a tremendous discount - not an arms length transaction, but it's a sale)

•The oldest home that sold was 97 yrs old

•The average age of the homes that sold was 23 years (33 last month)

•1 condo/townhouse properties sold (3 last month) Watch this stat, as FHA just released new lending guidelines requiring, among other things, at least 50% owner occupied units in condo/townhouse projects - coupled with stricter lending limits on condo-hotels like Will o the Wisp, Wisp Hotel, & Silver Tree Suites. I am not aware of any condo communities at Deep Creek Lake that have 50% owner occupancy - maybe Laurelbrook?

Here are the statistical breakdowns:

Average Sale Price: $495,235 (last month $236,087)

Average Days on Market: 185/246 (last month 200/260) (days on market with current broker/total days on market)

Here's a little something extra - 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.



If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!

Visit the 'I Love Deep Creek & Garrett County group' on Facebook! News, events, photos, real estate, community, info, more! 1,750+ members & growing!

May 2011 Land Sales - Market Update

9 lot/land sales in Garrett County in May 2011. Financing for lots is difficult to find nowadays, certainly with less than 30-50% down. That, coupled with the huge supply of homes available, continues to affect lot/land prices.

There are currently 602 lot/land listings in Garrett County. There have been 32 sales so far this year, so we are a little over 5 sales on average per month.

Here's a quick look at the May sales:

.62 acre building lot on S 8th St in Oakland (commercial or residential zoning) sold for $3,000 - asking price was $5,000.

6.5 acres on Sand Flat Rd at Moss Creek - sold for $25,000. Many lots in this subdivision recently dropped asking prices in half, and then sold for a little more than half of that price.

3 lots sold in the Pleasant Valley subdivision of Swan Meadow - $70,000 each for 10 acres.

69 acres on Sanders Lane (near Herrington Manor) sold for $155,000

Lot 26 at North Camp (Wisp ski front community) sold for $250,000

If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!

Visit the 'I Love Deep Creek & Garrett County group' on Facebook! News, events, photos, real estate, community, info, more! 1,750+ members & growing!

May 2011 Real Estate Market Update

May sales numbers were up over April - 27 total sales in May 2011. We're up 10 sales over last May, when there were only 17 transfers.

The median sales price was down by over 34% - but, looking closer at that number, more primary residential homes sold in May than normal. There were 14 sales under $200k - that really skews the numbers. Couple that with the highest sales price last month of $610k, those are interesting factors. Otherwise, other areas of our real estate market are looking stronger than last month. One interesting correlation between low sales prices and days on market - homes last month sold MUCH more quickly. Imagine that :)

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

There are 53 homes under contract (43 last month).

The average list vs. ORIGINAL sales price was 82.43%, up from last month (81.62%).

The ADJUSTED list vs sale price was 88.28%, up from last month (87.31%).

The current # of active/for sale listings in MRIS (minus timeshares) is 764, up from last months 703 . We have a 28 month supply of homes available (minus timeshares) based solely on the May sales numbers. This number is down from last month's 33 month supply.

Random observations:

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

•It appears that 12 or so of these sales were vacation homes (another factor in the decling median sales prices)

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

•22 homes sold under $400,000

•0 homes sold over $ 1 million (interesting note, the highest sale price was $610,000)

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

•One house sold for 51.59% of asking price - 182 Main St

•The oldest home that sold was 106 yrs old

•The average age of the homes that sold was 33 years (28 last month)

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

Here are the statistical breakdowns:

Average Sale Price: $236,087 (last month $320,310)

Average Days on Market: 200/260 (last month 273/378) (days on market with current broker/total days on market)

Here's a little something extra - more in depth stats by price range, from our friends at RBIntel.


If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!

Visit the 'I Love Deep Creek & Garrett County group' on Facebook! News, events, photos, real estate, community, info, more! 1,750+ members & growing!

April 2011 Residential Real Estate Sales - Market Update

April has come and gone and left behind another month of real estate sales in Garrett County & at Deep Creek Lake. There were 21 total sales, down one from last month and up 4 sales from April 2010.

I've been warning for months that the inventory is coming...and here it is. There are now 701 available properties on the market. I recall one day getting an update of 17 new homes - I believe last Monday. That number is up 103 from last month. Not surprising, as this is the time of year people like to start looking for their summer purchase. Homes show better in the warmer weather & the fresh landscaping/green grass helps a lot. The large portion of those 'new' listings are re-listed homes that didn't sell last year.


Let's take a look at the stats:

There are 43 homes under contract (38 last month).

The average list vs. ORIGINAL sales price was 81.62%, down from last month (83.51%).

The ADJUSTED list vs sale price was 87.31%, down from last month (89.63%).

The current # of active/for sale listings in MRIS (minus timeshares) is 703, up from last months 598. We have a 33 month supply of homes available (minus timeshares) based solely on the April sales numbers. This number is up from last month's 27 month supply.

Random observations:

•4 'newer' home sold in March (5 years old or less)

•It appears that 11 or so of these sales were vacation homes

•14 homes sold under $300,000 (last month was 15)

•15 homes sold under $400,000

•2 homes sold over $ 1 million (same as last month)

•0 homes sold for higher than full price or at full price (last month was 4)

•One house sold for 52.63% of asking price - 139 Frederick Circle

•The oldest home that sold was 93 yrs old

•The average age of the homes that sold was 28 years (37 last month)

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

Here are the statistical breakdowns:

Average Sale Price: $320,310 (last month $297,427)

Average Days on Market: 273/378 (last month 205/290) (days on market with current broker/total days on market)

Here's a little something extra - more in depth stats by price range, from our friends at RBIntel.


If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!

Visit the 'I Love Deep Creek & Garrett County group' on Facebook! News, events, photos, real estate, community, info, more! 1,750+ members & growing!