November was another strong month for Deep Creek Lake real estate. Lake Oriented Resident Sales were up 23% compared to last year, rising from 157 to 193. Overall home sales in November drastically increased by 200%, rising from 22 to 44. The average sold price for Lake Oriented Residential homes rose to $474,145, and remained 4% higher than the same time frame last year. Even though Pending Sales and New Active Listings declined minimally, all signs still point to a strong start for 2017!
Other highlights include -
- Total Dollar Volume for Lake-Oriented Residential properties, year-to-date, is $91M, compared to $71M last year
Buyers, don't be discouraged by a lower inventory and higher prices. There are still great options available, and new properties will begin to hit the market after the holiday season. Our powerful online home search tools and listing alerts can better inform you and help you stay on top of the market. Your agent can also fine-tune these home searches to meet your criteria.
Sellers, lower inventory coupled with slightly rising prices show strong demand. It's still a good time to have your home listed, because there are still plenty of qualified buyers searching for a house like yours.
If you are thinking about buying or selling real estate in the Deep Creek Lake area, contact one of our expert agents today!