The June real estate market for Garrett County showed increases across the board. Cloesd sales increased 21% over the 5 year average, with 45 closed sales in June. Pending Sales for June rose 20% to 54 over the 5 year average of 45. New Listings also increased slightly above the average, rising 3% from 95 to 97. Active Listings continue to decline from the 5 year average, falling 27% off the 5 year average to 429. Average Days on Market also continues to decline both off the 5 year average and month to month, falling to 169 days. Despite the low inventory, market activity has remained high.
The end of June also marks the end of Q2 for 2018 and the agents at Railey Realty had a stellar 6 months! Railey Realty represented 68% of all Lakefront Residential Properties Sold and 63% of the Deep Creek Lake Area Residential Dollar Volume. For Garrett County as a whole, Railey Realty represented 57% of all Residential Properties Sold and 63% of the Garrett County Residential Dollar Volume. Our agents also represented both sides of the top three sales so far this year, with the highest sale at 908 Beckmans Peninsula Road, closing at $1,659,000.
As we move through summer, activity will remain high and will most likely not drop off until late fall. For Buyers, starting your home buying process now will help you be ready when the perfect property hits the market! New listings that are unique or priced right do not last - having your agent on alert for what you're looking for in a home will put you ahead of the curve. As evidenced by the declining days on market, it pays to be ready! Your agent can set you up for instant alerts directly from the MLS system, too. For Sellers, it's still a great time to list your home!! Having an experienced agent who is works in our specific market makes all the difference. Your agent can help you price your home competitively for the best price and a quick sale. Get a FREE Comparative Market Analysis by one of our expert agents today! We've had an incredible summer so far and we still have plenty of summer left!
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