Deep Creek Lake - Listing Shortage!
If you follow any active real estate agent on social media, you know that there is a listing shortage like we've never seen before. This is true around the country, and Deep Creek Lake is no exception. Over the past several months, our area has had an incredible boost in the real estate market. Whether folks are buying because of historically low interest rates, a place to escape during a global pandemic, or simply because they're ready to make their dreams come true, the Deep Creek Lake housing market has exploded.
Typically, the winter season would bring us a more relaxed real estate market. That has not proven to be the case during the winter of 2020. This weekend alone, I put three homes under contract!
The map below is a visualization of the homes sold in Garrett County, Maryland over the past 6 months. As you can see, most of the activity is in the center of the county, which is Deep Creek Lake.
481 homes have sold in the past 6 months. More than half of them were in the lake area; 272 to be exact. There are currently only 116 residential listings available throughout Garrett County, Maryland.
Of those 116 listings, only 48 of them are in the Deep Creek Lake area! I can tell you with absolute certainty, there are way more than 48 buyers looking for places at Deep Creek right now.
The average price of the homes sold was $638,967.09! That's and avg of 97% of their list prices. Nearly half of the homes that sold were under contract in just 1 month! It's a fast and friendly market. If you have a Deep Creek Lake home that you've considered selling, call me today!