The real estate market for Garrett County and Deep Creek Lake for February mirrored most of the trends we saw in January. Pending Sales were up 6% from the 5 year average; Closed Sales were flat compared to the 5 year average, with 22 for February; and Active Listings continued to decrease from the average, falling 19%. February did see a surge of New Listings, with 54 new homes being listed compared to the 5 year average of 36. The spike in new listings can most likely be attributed to homeowners taking advantage of the low inventory. The average price has remained higher for both Deep Creek Lake and Garrett County markets compared to the same time frame last year.
Buyers, well priced and well maintained homes generally go under contract quickly. Establishing your relationship with your real estate agent now can put you in a better position to act on new listings as we see the spring market forming. There are still great deals out there now, too! Your agent can help you see investment and rental potential specific to our market and help you make the best decision for your needs.
Sellers, now is the time to list your home! With the winter season ending, our market will see an influx of new listings as we head towards the summer season. Listing your property now can be the difference in more attention for your home. Our agents are experts in our area and specific markets - let them help you price your home for a quick and profitable sale! Get a FREE comparative market analysis of your home today!
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