April was another solid month for the Deep Creek Lake & Garrett County real estate market! Pending sales saw a 24% increase in April compared to the 5-year average and closed sales rose 10%. April isn't usually a big month for closed sales, so we expect to see the amount of closed sales grow from month to month as the year progresses. Both active listings and new listings decreased during April. The drop in new and active listings mirrors the lower inventory that our market is experiencing.
- Average Days on Market Before Sale for the month of April dropped drastically compared to the 5-year average, falling nearing 65% from 283 to 171 days.
- There were 4 $1M+ homes sold during the first four months of 2017, compared to only 1 $1M+ home sold during that same time frame in 2016.
- Average sales prices increased for both Lake-Oriented homes & Garrett County as a whole, rising 24% for lake homes and 30% for the entire county.
With summer on the horizon, the real estate market is in a great position! Sellers, now is the perfect time to list your home. Activity around the lake and in the real estate market will continue to increase as summer progresses. An experienced agent can help you price your home right from the start and help it stand out more to potential buyers. Buyers, it pays to be prepared! As evidence of the drastic drop in days on market, good deals are moving quickly. Our agents are not only area experts but they're also experts in our market, with tools to keep you as up-to-date as possible with new listings that meet your wishes and needs. They can help you find the perfect home for your budget! Whether you're buying or selling, our agents are ready and willing to help you achieve your real estate goals.
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