Monday, March 08, 2010

February 2010 Homes Sales in Garrett County & Deep Creek Lake



The nasty weather definitely had an adverse affect on the local real estate market in Febraury with only 6 residential settlements. It’s next to impossible to show and sell houses with 5-10 foot drifts at residential homes, let alone vacation homes which may not have seen a snowplow in weeks!

There are signs of a stronger spring ahead of us, as there are 33 ‘contracts’ in place which will close over the coming months and the economic indicators for the country are improving.

3 of the 6 sales were Deep Creek Lake area, and the other appear to be primary residential.

The average list vs. ORIGINAL sales price is 79.34% (down from January), though the ADJUSTED list vs. sales price is 88.31% of asking price (also down from January). There was at least one foreclosure/bank owned property included in these stats, so that often skews the numbers somewhat.

The current number of active/for sale residential listings is 575. 33 of these homes are under contract. This is a net reduction from January 2009 (11 less homes for sale, 3 more under contract). Slowly but surely, our inventory numbers are continuing to decrease! Expect an increase of homes on the market in the spring, when more people historically decide to test the waters. Prices have stabilized and are increasing on average over the past few months!

Here are the statistical breakdowns:

Avearge Sale Price: $309,200

Average Days on Market: 164/296 (days on market with current borker/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


Posted by Jay on 03/08 at 11:55 AM
Real Estate • Buyer Information • Market Update • (0) Trackbacks • Permalink

Pleasant Valley, Garrett County Maryland

I had someone send me this photo of their family farm in southern Garrett County over the weekend and I was reminded of a Garrett County gem - Pleasant Valley. It’s not a town, so you can’t find it on the map as an address, but it is a collection of farms, fields, and homes on Route 219 south of Oakland. There is a prevalent Amish population, generations of local farmers and lots of other cool places to drive by and see. My father had a home in the valley for 10 years or so while I was growing up, so I was fortunate enough to have experienced the beautiful sights, sounds (and smells) of this agricultural area. Pleasant Valley lies beneath the Backbone Mountain ridge, so the backdrop of the highest point in Maryland is equally impressive as you take in the beautiful sights and sounds of Pleasant Valley! Take a trip to see the working farms, and stop by one of the many ‘shops’ that you will encounter along the way. You buy everything from fresh produce and eggs to Garrett County’s own maple syrup, baking goods, fresh baked bread & yummy deserts. There are also fun activities like horse drawn carriage rides, the Backbone Mountain ski farm and you can even arrange a trip to see livestock on a Garrett County farm!

Want your own piece of the Valley? Railey Realty offers many diverse tracts of recreational land, farm/pasture land and homes in this beautiful are of Garrett County. You can search for real estate here, or I would be happy to help you find the property of your dreams in Southern Garrett County, Pleasant Valley and Backbone Mountain!

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


Posted by Jay on 03/08 at 11:23 AM
Community • Fun Things to Do • Pleasant Valley • Real Estate • (0) Trackbacks • Permalink
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