The March statistics for Garrett County and Deep Creek Lake showed increases for sales but declines for listings. Closed sales and pending sales both saw healthy increases over the 5-year average for March, while new listings and active actives both declined. New listings were only slightly down from the 5-year average, though, and we expect to see them increase or match the average now that the spring season is finally here. Active listings have continued to fall far below the average, and inventory is at its lowest levels in recent years. Low inventory, however, can be advantageous.
Buyers – new listings will begin hitting the market more frequently as we move into summer. Knowing your budget, having a ‘need’ and a ‘want’ list, and knowing where you’d like to buy can help narrow down the homes that are right for you. Working with an experienced agent can take away a lot of the doubt or worry when buying a second home! Not only can they explain different areas and amenities, but they can also help you see hidden potential or possible risks in certain properties that you may not find on your own. Browsing online is a great way to get familiar with prices and locations, but nothing can replace a Deep Creek Lake or Garrett County expert!
Sellers – take advantage of the low inventory!! Even with the influx of new listings, your home could offer distinct advantages over other homes on the market. Price is still key in our market, and your agent can help you price your home fairly for our market and get you the best price at the end of the day! For a free comparative market analysis of your property, click here.