February 2025
Comparing this year to last year, we’re seeing several shifts across the board. Active Listings continue to increase, with a 42% increase compared to February last year. New Listings in February 25 were also up quite a bit compared to last February, with 53 homes listed. Total Active inventory still remains below what is considered a ‘balanced’ market. There were 19% less homes sold in February 2025 compared to 2024, and New Pending Sales were down 16% compared to last February. This isn’t particularly unusual during the winter months. Both Average Sold Prices and Median Sold Prices were lower than last year. These can easily be skewed with $1M+ home sales, especially when only looking within the scope of one month.
Year to Date – January-February 2025
Looking at the year as a whole, we’re seeing small declines in most data points. Average Sold Price has decreased 14%, coming in at $502,439 in 2025 compared to $589,110 in 2024. There have been 29% less homes sold so far in 2025, with 44 sold compared to 62 for the same time frame last year. While this seems like a large drop, this isn’t out of the normal following an election year. Economic uncertainty is a normal side effect, and we anticipate the market ‘catching up’ to itself as buyer confidence grows post-inauguration.
Buyers
Now that Spring is officially here, new listings will begin hitting the market in large quantities. Whether you’re looking to purchase immediately or in 6 months, it’s never too early to get engaged with a local REALTOR! While searching available properties online is a great first step, it can be hard to get the full ‘feel’ of the property through pictures online. Some factors, like the slope of the lot, road noise, and cosmetic damage, may be hard to ascertain from the photos. If you’re working with a local agent, though, they can most likely answer those questions right away, or can go tour the house and help narrow down your ‘must see’ list before you make the trip in. While anyone can open a door for you and write a contract, your REALTOR should go above and beyond the bare minimum requirements. Deep Creek is a specialized market with different documents, HOAs, conservation easements, and more. Don’t settle when it comes to your representation!
Sellers
Spring is here! Our market generally sees the highest volume of listings come on the market in April and May. That means buyers will be anxiously looking at all new properties, searching for the right fit for them. While there is more competition with new listings during the spring, a well-priced property with top-tier marketing will stand out amongst the crowd – especially for those buyers looking to enjoy their second home this summer! The agents at Railey Realty know how to make your home stand out amongst the competition! Using strategic pricing strategies and proven marketing techniques, your home will receive maximum attention from the start.
Ready to get started? Call our office seven days a week or fill out this online contact form to get paired with an agent today!
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