Deep Creek Lake Real Estate - October 2020
In a year full of twists and turns, why should the Deep Creek Lake Real Estate Market be any different?
Let's take a dive into the real estate opportunities in Deep Creek Lake and throughout Garrett County! We'll explore the residential market actives over the past month and see how they've changed from months and years passed.
October 2020 - Garrett County Market Activities
53 Homes were listed throughout Garrett County UP 4 FROM 2019
68 Homes went under contract and are now pending sale UP 22 FROM 2019
90 Homes were Sold UP 42 FROM LAST YEAR
21 Homes Withdrawn, Cancelled, Expired, or Temporarily off the market UP 1 FROM LAST YEAR
20 of the 53 Homes that were listed in the month are pending sale. The other 48 homes that were marked pending in October 2020 were listed at a different time
4 of the 53 Homes that were listed for sale in the month have already sold. That's really fast, it's fair to guess that those homes were purchased without lender financing as that typically takes about 6 weeks.
The average close price of homes that sold last month was $491,860 UP $167,414.69 FROM 2019
The homes that sold last month got an average of 97% of their list price UP 4% FROM 2019
The homes that sold last month were on the market for 73.85 average day DOWN 32.44 FROM 2019
465 Limpopo Lane, McHenry, MD $350,000
234 Lake Pointe Drive, McHenry, MD $770,000
767 Harvey Peninsula Road, Swanton, MD $1,085,000
435 Brant Road, Swanton, MD $385,000
12 North Shoreline Dr (Thousand Acres), Swanton, Md $600,000
So far this year I've been able to help out 35 clients purchase or sell their Garrett County properties! It's been a banner year for real estate sales, despite several very quiet months during the beginning of the COVID-19 Pandemic.
As you can see from the October numbers, the market has not slowed since the summer season ended. We are still in a time of great opportunity with interest rates and inventory at all time lows. This market is the perfect storm. When I've been asked whether it's a buyers or sellers market, I've responded that it's both. Low interest rates give buyers the chance to borrow money for next to nothing. Crops of buyers and low listing inventory give sellers that chance to maximize their investment like they've not been able to in many years.
If you've been dreaming of buying, or wondering what you could get in a sale, call me today! 410-487-4914 is my direct line. I would love to set an in-person or virtual appointment to discuss your real estate goals!