Now that summer has officially ended, the Deep Creek Lake market will begin to see a shift as we progress into fall and winter. Typically, we see an influx of new listings during spring, and inversely during fall, we see a rise in new pendings and closed sales. Our latest update shows the statistics from August, but we can expect September stats to follow the usual fall trend. August saw a big increase in new pending sales, but slight decreases for closed sales and new listings. Total active listings also continue to be lower than the 5-year average. Other stats we found interesting were:
- Average Days on Market for Garrett County has dropped to 135 days
- There were 76 Lakefront Residential Sales so far in 2017 versus only 58 for the same time frame in 2016
- Total Dollar Volume for Lake Oriented Residential sales is up $16M from last year
With summer coming to a close, now is the time we generally see a spike in new pendings and closed sales. Buyers, fall is an excellent time to buy!! Listings usually see price reductions and there can be less competition with other buyers during this time of year. Your agent can help you determine which homes are good buys and act as your expert negotiator when it comes to making an offer. They can even help set you up on specific searches for property locations, neighborhoods, and almost every other criteria on your list! Sellers, with lower inventory and rising prices, making your move now can get your home sold before winter. Our agents are tuned into our specific market and can help price your home at a competitive market price to help sell it quickly and for the most money. Call our office or fill out a contact form to start your home buying or selling experience at Deep Creek Lake!