Jay Fergusonjay@deepcreekvacations.com301-501-0420

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)

Buying or selling real estate in Garrett County or Deep Creek Lake, Maryland? Call Jay Ferguson of Railey Realty for all of your real estate needs! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues!

877-563-5350 – toll free

Search Homes & Lots for Sale at Deep Creek Lake & Garrett County, Maryland



Leave a Reply

Your email address will not be published. Required fields are marked *