November 2021
It’s been a busy fall season! November said some increases across the board, most likely resulting from the increase in New Listings. There were 52 New Listings in November 2021, a 33% increase over the 5-year-average of 39 for the month. The bump in New Listings most likely attributed to the increase in New Pending Sales, which were up 7% with 46 this past November compared to the average of 43. Closed Sales were up slightly, with 49 homes sold in November 2021 compared to the 5-year-average for the month of 47. Inventory remains extremely low, with 113 homes for sale in November 2021, so increased New Listings will have a positive impact as buyers continue looking. Average Days on Market continues to remain low as new listings are put under contract quickly.
YTD – January-November 2021
As we near the end of the year, we’re seeing the market begin to slow down compared to 2020. The surge in the second half of 2020 quickly depleted inventory, and we’ve been navigating that new low for the last 12 months. Through the end of November, there have been 561 detached homes sold, compared to 550 for the same time frame last year. Average Sales Prices are 21% higher than 2020, and Total Dollar Volume is up 26%.
Buyers
New listings are rebounding! Get in front of new listings and properties hitting the market by establishing your relationship with your REALTOR now. Our agents can set you up on auto-emails that are sent to you the moment the property is listed or the price is changed. Our agents are also part of the largest local team of agents – Railey Realty lists more than 60% of all properties! That means that if you’re looking for something in particular, your agent can use their internal network to help find the property you’re looking for.
Sellers
Buyer activity remains extremely high! No matter how good the market is, though, pricing is crucial for immediate attention and a quick sale. The Deep Creek market is unique – only experienced, local, and working agents can help you correctly price your property based on specific amenities and demand. Lakefront and Lake Access properties remain in high demand! Don’t take a chance when it comes to selling your property. Rest assured that our agents truly are the area experts – their expertise will carry you throughout the process. There are buyers looking in absolutely every corner of our market, from Lakefront to Condos to Grantsville. You never know – your home might be exactly what they’re looking for! As we move into the holiday season, buyer demand will remain high. Most buyers currently looking are also very serious, as they’re prioritizing their home searches during this time of year.
Connect