February 2011 Real Estate Market Update

February 2011 was a sub par month for real estate sales - just like last year. Last February, there were a whopping 6 sales....all month long. Part of this was the wicked winter weather we experienced. It's tough to get into a house that is blanketed with 6 feet of snow, let alone purchase it. Part of it is that February is a 'between seasons' month in our 4 season vacation market. Most folks who want to be here for the winter buy in November/December and close in January. The spring market historically gets cranked up in March for buyers who want to be on the lake late spring/summer. The biggest part, of course, was the lousy real estate market overall.

Good news! Sales are up 50% this February! An incredible jump to....(bad news coming)... 9 total sales. Again, a lousy February. No use spinning these numbers, February was just a bad month for real estate sales. The GREAT news is that Deep Creek Dunk broke records all over the place & raised a ton of money for Maryland Special Olympics - $162,825!! But, I digress...back to the real estate update.

Let's take a look at the stats:

There are 37 homes under contract (32 last month).

The average list vs. ORIGINAL sales price was 78.11%, down from last month (80.18%).

The ADJUSTED list vs sale price was 88.03%, also down from last month (90.83%).

The current # of active/for sale listings in MRIS (minus timeshares) is 572, up from last months 560. (Continue to) Brace yourselves for a much higher number of homes on the market next month. I have at least 3 homes coming back on the market, and a few other owners thinking about it. I've listed or re-listed 2 houses in the last week alone. There will be (many) more homes...soon. We have a 63 month supply of homes available (minus timeshares) based solely on the February sales numbers. This a little ridiculous, but it's the truth - there were only 9 sales in February, so this number just more than doubled from last month (31).

Random observations:

• 1 'newer' homes sold in February (5 years old or less)
• It appears that 5 or so of these sales were vacation homes
• 7 homes sold under $300,000 (last month was 8)
• 7 (same) homes sold under $400,000
• 1 house sold over $ 1million (1 last month)
• 0 homes sold for higher than full price (last month was 1)
• One house sold for 70% of asking price
• The oldest home that sold was 111 yrs old
• The average age of the homes that sold was 36 years (25 last month)
• 1 condo/townhouse properties sold (3 last month)

Here are the statistical breakdowns:

Average Sale Price: $309,667 (last month $398,779)

Average Days on Market: 301/407 (last month 316/345) (days on market with current broker/total days on market)

We're already at 7 closed sales through today, so March should shape up to be better than February! Enjoy the sunshine :)

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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December 2010 Real Estate Market Update - Sales Stats

I had several people point out that the links for the November real estate update were switched around (2009 v 2010), so I updated that post & reprinted the stats (see it here).

Also, this month is good example of why I wait until the 2nd week of the month to do these updates. I looked at the December stats just last week and there were 32 sales. Now, there are 34 - 2 weeks into January. It's not supposed to happen this way, but some agents seem to take their time when updating the MLS. Either way, I'll do my best to update you with accurate numbers.

December sales were up considerably, especially factoring in the weather and the lower numbers in November. There were 34 homes that sold (versus 22 in November 2009). There are 27 homes under contract (36 last month).

I recently posted an update on 2010 as a whole and the numbers were promising. There were 33 more sale all year than 2009 (12% increase). I expect this recovery to continue and am optimistic for 2011!

The average list vs. ORIGINAL sales price was 82.03%, up from last month (80.69%).

The ADJUSTED list vs sale price was 90.20%, down slightly from last month (91.02%).

The current # of active/for sale listings in MRIS (minus timeshares) is 567, down from last months 654. I predicted this number would plummet and it did - a lot of homeowners listing contracts expire and they are currently deciding where or whom to list with (By the way, Call Jay Ferguson for all your real estate needs :) We have a 17 month supply of homes available based solely on the December sales numbers and the sudden disappearance of these end of year homes for sale. Do not rely on this number, it will definitely change dramatically.

Random observations:

• 4 'newer' homes sold in December (less than 5 years old)
• It appears that 20 or so of these sales were vacation homes
• 22 homes sold under $300,000 (last month was 13)
• 25 homes sold under $400,000
• After last month's zero, 3 houses sold over $1million
• 3 homes sold for full price (one for 102% of asking price - multiple offers, I believe)
• One house sold for 57% of asking price
• 2 - 111 year old homes sold - one in Oakland & one in Friendsville
• The average age of the homes that sold was 34 years
• Another Wisp Hotel unit sold, this time for $51,000
• 4 condo's/townhouse properties sold, (3 last month)

Here are the statistical breakdowns:

Average Sale Price: $327,687 (last month $293,264)

Average Days on Market: 207/270 (last month 244/281) (days on market with current broker/total days on market)

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!

August 2010 Real Estate Sales - Market Update

We had 32 home sales in the month of August 2010 (versus 29 sales in August 2009). There was a sizable increase from last month (26 total sales).

There are 67 homes under contract (sale-pending), up from last month (53). The record low interest rates and 'late' summer sales are probably responsible for a lot of this increased activity, but for whatever reason - it's a very welcome sign. Another huge factor is the prices. It's no secret - prices have dropped, in some cases tremendously. I think buyers are recognizing deals when they see them, though, and some deals are too good to pass up. By no means is the market 'fixed', but we are taking small steps in the right direction, in my opinion.

The average list vs. ORIGINAL sales price was 69.28% (which factors in an obvious error from an out of town agent who mistakenly claims $799,995.00 in seller 'help' on a $115,000 sale). The adjusted number dropping this out would be 87.31%, up nearly 5% from last month (82.50%).

The ADJUSTED list vs sale price is 91.80% (again, excluding the obvious subsidy error) - up 2%from last month (89.53%).

The current number of active/for sale residential listings (minus timeshares) is 775 as of today, down from last month (791). Making a little bit of headway is better than none, but that's still a 24 month supply of homes available, based on the August sales numbers. I highly doubt we can average that many sales per month, so expect this number to remain high.

Random Observations:

• There were 5 'newer' homes that sold this month.
• 15 of the 32 homes sold for less than $300,000.
• Highest sale was $1.750 million at the Blakeslee.
• 1 property sold higher than full price.
• 17 of these sales were lake area or vacation homes.
• The rest (15) are primary residential homes scattered around Garrett County.
• The days on market stats were significantly lower on average - newer listings are the ones selling vs. homes that have been on for a significant time. Sometimes, homes can appear 'stale' to buyers and they won't bother to look unless there has been a recent sales price adjustment.

Here are the statistical breakdowns:

Average Sale Price: $367,780 (last month $321,685)

Average Days on Market: 163/182 (last month 150/302) (days on market with current broker/total days on market).

I'll update this later this week with how Railey Realty fared in the sales numbers.

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!

September Home Sales - Market Update - Deep Creek Lake

I am a little late in publishing these numbers this month, but I have a good reason...Autumn Glory kept me sidetracked for much of the weekend and even in to this week. What a great time of the year - the leaves peaked from Saturday afternoon until about mid-day Monday. Keep an eye on this blog for links to the photo galleries from all of the county - I got some great photos!

We had 39 home sales in the month of September 2010 (versus 26 sales in September 2009). Another sizable increase from last month (32 total sales), as well as being the most productive month of the year, I believe.

There are 50 homes under contract (sale-pending), down from last month (67). This number should continue to drop steadily until we enter the next 'season' for tourists and visitors to return to the county for extended stays.

The average list vs. ORIGINAL sales price was 82.63%, down from last month (87.31%).

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).

Random Observations:

• There were 9 'newer' homes that sold this month.
• There was a lakefront home that sold for $399,900
• 24 of the 39 homes sold for less than $300,000.
• Highest sale was $1.150 million on Marsh Hill Rd.
• 3 houses sold for full price.
• 1 home sold for 50% of asking price - next lowest, 79%
• 19 of these sales were lake area or vacation homes.
• The rest (20) are primary residential homes scattered around Garrett County.
• Average age of the home sold was 23 years old
• 2 sales at Wisp Resort - one at Kendall Camp & the other at North Camp
• 5 condo's/townhouse properties sold
• 2 sales above $1 million, both lakefront homes

Here are the statistical breakdowns:

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).

I'll update this later this week with how Railey Realty fared in the sales numbers.

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!

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!

November 2009 Market Update - Deep Creek Lake Garrett County Maryland

There were 22 residential sales in the month of November in Garrett County. 12 of those sales would be considered ‘Deep Creek Lake area’ or ‘Vacation Homes’, and the rest would be considered as primary residential. The average list vs. ORIGINAL sales price is 83%, though the ADJUSTED list vs. sales price is 90% of asking price. In other words, as people test the waters and make price adjustments, the more reliable number is the adjusted asking price, as they have responded to the feedback of the market with price reductions, etc.

Here are the statistical breakdowns:

If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Long & Foster Real Estate for all of your real estate needs! 877-563-5350

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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July 2010 Real Estate Market Update - Residential

We had 26 home sales in the month of July 2010 (versus 22 sales in July 2009). There was slight decline from last month (30 total sales), but I expected a slight decline due to the tax credit deadline of June 30th.

There are 53 homes under contract, up from last month (48). Historically, 'late' summer sales are always strong, as there are still folks in town vacationing and local buyers have a small window to purchase their new home before school & sports activities start in late August /early September. Also, a lot of people 'watch' properties all summer then make their offers later in the summer season, often times taking advantage of a late price reduction or a house that may have come on the market late and slipped through the cracks.

2 properties sold at full price or higher. 13 of these sales were lake area or vacation homes. The rest are primary residential homes scattered around Garrett County.

The average list vs. ORIGINAL sales price was 82.50%, down from last month (88.88%).

The ADJUSTED list vs sale price is 89.53% - also down from last month (93.22%).

The current number of active/for sale residential listings (minus timeshares) is 791 as of today, up from last month. We are still gaining more inventory than we are selling and this will continue to drive down prices from a supply and demand standpoint. With current state of affairs, this is a number that is unlikely to come down anytime soon. That's a 30 month supply of homes available, which is a very challenging stat to overcome. Looking beyond those numbers will lead you to the understanding that we are at least a 50% or so vacation home market and our sales are seasonal, unlike Florida or Arizona where the weather is nice almost all year long. But still, 30 month supply is a lot.

Another stat I noticed was that there were no new(er) construction homes that sold. The 'newest' home was 4 years old, the oldest home that sold was 100 years old.

18 of the 26 homes sold for less than $300,000. One house that was listed for $1.125 mil sold for $875,000. There are several of these 'motivated' sellers out there - you never know what someone will sell for unless you make an offer, right?

Here are the statistical breakdowns:

Average Sale Price: $321,685 (last month $448,350) - the $3.5 million dollar sale tweaked this last month

Average Days on Market: 150/302 (last month 177/241) (days on market with current broker/total days on market)

I blogged the other day about Railey Realty's market share - we are still #1 in Garrett County since 1995.

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!

June 2010 Real Estate Market Update

June was a good month for real estate sales in Garrett County & Deep Creek Lake. The highest ever sale at Deep Creek Lake ($3.5 million) close on June 11. Railey Realty had the listing part of the transaction. I had my first million dollar sale! Surprisingly, I have come close several times but this is the first 'official' sale over a million (and ironically, my first transaction at Railey Realty).
There were 30 homes that sold in the month of June, which is nearly double that of May 2010. Late spring and summer have always been among the best months of the year for real estate sales, partly because of the start of 'vacation season' and it's easier to look at homes when kids are out of school, etc. Plus, you don't have to wade through 23 feet of snow to look at houses :)

There were 27 sales during the same period last year, so that is a positive.

By my count, 6 of these properties sold at full price or higher.

There are 48 properties currently under contract, the exact same as last month. I look for this number to be affected by a very slow month for the local economy in June. From folks I have spoken to, rentals were down slightly and that led to lower sales for restaurants, shops and other 'tourism dependant' local businesses. The consensus that I have gotten from these local business owners is that the weather from January & February led to longer school years and less available vacation time. When people aren't in town to look at houses, its also affects real estate sales.

11/12 of the 30 sales appear to me to be vacation homes, or at least in the Deep Creek Lake area. The rest seem to be primary residential homes scattered across Oakland, Granstville, Swanton and Accident.

The average list vs. ORIGINAL sales price was 88.88%, up 3.66% from last month (85.22).

The ADJUSTED list vs sale price is 93.22% - up again from last month (92.37%).

The current number of active/for sale residential listings (minus timeshares) is 774 as of today. This is up from last month (737) considerably. We are still gaining more inventory than we are selling and this will continue to drive down prices from a supply and demand standpoint. With current state of affairs, this is a number that is unlikely to come down anytime soon. That's a 26 month supply of homes available, which is a very challenging stat to overcome.

Here are the statistical breakdowns:

Average Sale Price: $448,350 (last month) $409,316 (understand this is affected by the $3.5 million lakefront sale)

Average Days on Market: 177/241 (last month 256/267) (days on market with current broker/total days on market)

Of the $26,901,000 in total dollar volume in the month of June, Railey Realty was responsible for $16,039,900 - a whopping 60% of the Garrett County real estate market!

#1 in Garrett County & at Deep Creek Lake since 1995.

I'll blog later about about year to date numbers - from a company standpoint, you will be impressed at the level of production we have been able to maintain even in the sketchy market conditions that exist today.

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 Lake Info, Business Directories, Classified Ads, Events & more! Advertise on http://www.deepcreekalive.com/!

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

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 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

November 2010 Real Estate Market Update - Sales Stats

A typical November real estate market in Garrett County? That's what the number are saying. There were 22 homes that sold (versus 22 in November 2009). There are 36 homes under contract (down 13 from last month), but the holidays have a way of detracting people's attention from home buying. There are just too many other things going on this time of year for most folks.

We have snow on the ground and the ski season is kicking off, so our winter season for vacation home purchasing is just starting off. There are fewer primary home sales this time of year in Garrett County because of the obstacles that the weather presents. I recall moving in December during a snowstorm one night, and it wasn't fun. Moving trucks stuck in the snow, cold weather, blustery winds...most people prefer to wait for more accommodating weather.

The average list vs. ORIGINAL sales price was 80.69%, down from last month (85.31%).

The ADJUSTED list vs sale price was 91.02%, down slightly from last month (91.31%).

The current # of active/for sale listings in MRIS (minus timeshares) is 684, down from last months 654. This number will drop dramatically by next month. Many owners listing contracts expire Dec 31, and there are a fair number who remove their home during the winter. We have a 31 month supply of homes available based solely on the lower November sales numbers. This number will sound a lot better next month, I'm sure.

Random observations:

• 1 'newer' home sold in November (less than 5 years old)
• 1 timeshare sold
• It appears that 9 or so of these sales were vacation homes
• 14 homes sold under $300,000 (last month was 13)
• 15 homes sold under $400,000
• 0 houses sold over $1million
• 4 homes sold for full price
• Two properties sold for 80% of asking price
• A 71 year old house on 3rd St sold (for 100% of asking)
• The average age of the homes that sold was 28 years
• A Wisp Hotel unit sold for $50,000 - those prices have fluctuated A LOT over the past 10 years.
• 3 condo's/townhouse properties sold, (5 last month)

Here are the statistical breakdowns:

Average Sale Price: $293,264 (last month $398,117)

Average Days on Market: 244/281 (last month 127/167) (days on market with current broker/total days on market) This number really jumps out to me - this was clearly a batch of homes that were on the market for a while.

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!

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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January 2011 Real Estate Stats - Market Update

January 2011 was a great month for real estate sales . In fact, it beat the 5 yr January average. Last year, we had 12 sales in the entire month of January. This year, we had 18 total sales - which is surprising for this time of year. Perhaps our milder winter weather had something to do with it? I also believe that the overall brighter outlook on the future of the economy, coupled with the great early snowfall got more people out & shopping more so than previous years.

There are 32 homes under contract (27 last month).

The average list vs. ORIGINAL sales price was 80.18%, down slightly from last month (82.03%). The ADJUSTED list vs sale price was 90.83%, up slightly from last month (90.20%).

The current # of active/for sale listings in MRIS (minus timeshares) is 560, down from last months 567. Brace yourselves for a much higher number of homes on the market next month, especially if the warmer weather leads us to an early spring. We have a 31 month supply of homes available based solely on the January sales numbers

Random observations:

• 3 'newer' homes sold in January (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 22)
• 9 homes sold under $400,000
• 1 house sold over $ 1million (3 last month)
• 1 home sold for higher than full price (one sold for 139.56%)
• One house sold for 45.22% of asking price
• The oldest home that sold was 76 yrs old
• The average age of the homes that sold was 25 years
• 3 condo's/townhouse properties sold (4 last month)

Here are the statistical breakdowns:

Average Sale Price: $398,779 (last month $327,687)

Average Days on Market: 316/345 (last month 207/270) (days on market with current broker/total days on market)

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!

April Real Estate Update - Deep Creek Lake & Garrett County Maryland

April was a better month for real estate sales at Deep Creek Lake & Garrett County, Maryland. Out of the 17 total sales in April 2010 (up one from last month and ironically, one from last year during the same period), 6 of those sales were for full price - or higher! That seems much more like the real estate market that Deep Creek Lake & Garrett County sellers were accustomed to seeing a few short years ago. My interpretation of this is that sellers, buyers & agents alike are starting to get on the same page in terms of pricing. Prices have come down - everywhere. Now, the buyer activity seems to be picking up, as well. I've had more buyer calls about property in the last 2 weeks than....well, it's been a while. People are looking to buy again. And there are some great deals out there.

There are 49 properties currently under contract compared to 44 last month.

9 of the 17 sales appear to me to be vacation homes, or at least in the Deep Creek Lake area. The rest seem to be primary residential homes.

The average list vs. ORIGINAL sales price was 70.67%, up 1% from last month. The biggest part of this number is the high listing numbers that sellers start with. I blogged about this a few months ago. Sellers are starting to get the picture now, and those who can afford to sell for less, are.

The ADJUSTED list vs sale price is 90.47% - up again from last month. Once the market reacts and adjusts to prices & competition, the Realtors who assist in pricing property can adjust the asking price of properties for sellers who are willing & able to react. This number is a very telling stat - it shows that we are starting to narrow in on the price points for the local real estate market. The best evidence of this stat I can offer is that the 6 sales that were full price or higher. We are narrowing in on the true market values.

The current number of active/for sale residential listings is 665 as of today. This is up from last month (605) and will continue to grow as the spring and summer continue. April & May are huge listing months in Garrett County & Deep Creek Lake - this year is no different. I fully expect 700+ listings by this time next month.

Here are the statistical breakdowns:

Average Sale Price: $332,294 (last month) $404,031

Average Days on Market: 219/219 (last month 220/275) (days on market with current broker/total days on market)


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












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

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

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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 Search Homes/Lots for Sale