Read up on the latest market statistics for Deep Creek Lake and Garrett County, Maryland. This blog covers November, Year to Date, and our advice for buyers and sellers in today's changing market.
October 2023
Looking at October, we mostly see similar trends and relatively flat metrics in most areas. There were, however, some areas of improvement over 2022. There were 44 homes sold in October 23, compared to the 5-year-average of 60 homes. Comparing this year to last year, though, there were only 48 homes sold in October 2022, so it [...]
Wisp Resort is gearing up for the 2023/24 winter ski season! Marketing Director Lori Zaloga and Marketing Coordinator Lexi Hawkes recently presented the recent Wisp updates at a Garrett County Chamber of Commerce Marketing Roundtable event. Before we dive into winter improvements, Wisp did have a few changes made over the summer. New and [...]
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September kept true to the current trends we’ve been seeing throughout the summer. Overall, total active listings remain lower than past years, however, that gap is lessening as the 5-year-average is beginning to include 2020, 2021, and 2022 – where inventory first dropped. New Listings were down 10 homes from the [...]
The first dredging project at Deep Creek Lake will begin in October 2023 and is predicted to be completed by mid-winter. This $2.2M pilot project was funded by the State of Maryland and will remove approximately 15,000 cubic yards of sediment from Arrowhead Cove. It’s estimated that this will add 1-4 ft of depth to the cove, allowing for [...]
August 2023
Despite a busy summer, the real estate market stalled in August. Closed Sales were down, with 40 closing in August 23 compared to the 5-year-average for the month of 53. New Pending Sales were also down, with 47 reported in August 23 compared to the average of 70. Active Listings remain lower than in years past, with 161 [...]
Railey Realty was happy to host the GaCo team for their day-long telethon over Labor Day Weekend. The Garrett Coalition, or GaCo for short, is a local organization that provides instruction for elementary school aged children, hosts a nationally competitive robotics team, and donates and supports more than 30 other local organizations. The [...]
Despite a strong second quarter, the market stalled slightly in July. Closed Sales were down, with 39 homes sold in Julye 2023 compared to the average of 52 for the month. New Listings were also down, with 49 homes listed in July 23 compared to the 5-year-average of this month of 72 homes. New Pending sales were also down, with 50 [...]
We are thrilled to announce the addition of Carl Cooper, Jr., to our team of real estate agents! As a born and raised local, Carl has all of the inside knowledge you'd expect, plus years of in-depth experience in building and construction. We're excited to watch his real estate career grow! You can read more about Carl [...]
The real estate market is starting to see some small shifts as we make it to the halfway point of 2023. For June 23, Closed Sales were right on the 5-year-average of 52 homes sold. Compared to June 2022, Closed Sales were actually higher this past June. New Pending Sales were down from the 5-year-average, with 38 in June 23 [...]
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