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Deep Creek Real Estate Market Update | July 2019

June 2019

The Garrett County real estate market remained fairly stable within our recent trends for the month of June. Closed Sales were up 2%, with 42 sales in June 2019 compared to the 5-year average of 41. New Pending Sales were down slightly, with 46 in June 2019 compared to the 5-year average of 48 for June. New Listings were down 12% in June 2019, falling from the 5-year June average of 91, with 81 new listings in June of this year. Active Listings remain lower than previous years, with 451 Active Listings in June 2019 compared to the 5-year average of 498 for June.

Q2 2019

Overall, there have 215 homes sold in Garrett County for the first half of the year, with an average sales price of $341,330. For the same time frame last year, there had been 214 homes sold at an average price of $323,846.

For Lakefront Homes on Deep Creek Lake, there have been 37 homes sold for the first half of 2019 with an average sales price of $680,885. If we remove the $3.45M sale from the equation, the average sales price only falls to $603,965 for 2019. In 2018, there had been 38 lakefront homes sold in the first half of the year with an average sales price of $603,705. So, even without that high scale, average price and total units sold has remained fairly steady with last year.

Railey Realty

Our agents have had a fantastic first half of the year! Railey Realty ended the first half of the year with outstanding numbers for transactions and dollar volume. Our agents represented 79% of all Lakefront transactions so far in 2019!! We also represented 70% of all Deep Creek Lake Area Dollar Volume. For Garrett County, Railey Realty represented 67% of the total Dollar Volume and 58% of all transactions. Two of our agents also closed the largest sale in almost a decade and the second highest ever recorded transaction in Garrett County – representing both buyer and seller in a $3.45M sale.

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