Following a very positive start to 2012 based on total sales in the month of January, the upward trend of monthly sales in the Deep Creek Lake area market continued into the month of February. Monthly residential sales are a key indicator in the local real estate market. In Garrett County there were 17 residential sales in February 2012 totaling $4,522,000 in total dollar volume. Below is a summary of total sales in the month of February since 2007.
Feb 2012 / 17 residential closings / $4,522,000
Feb 2011 / 9 residential closings / $2,787,000
Feb 2010 / 6 residential closings / $1,860,000
Feb 2009 / 8 residential closings / $3,563,500
Feb 2008 / 18 residential closings / $6,171,475
Feb 2007 / 18 residential closings / $5,979,000
The total number of residential sales in February is almost double from one year ago and the total dollar volume was up 62%. If you are thinking of buying a vacation house at Deep Creek Lake, shopping now as opposed to later may be a good idea. Buyer interest seems to be much higher now that prices have softened and interest rates are low. There have even been a few multiple offer situations the past few weeks on two different lake access homes. Multiple offers have been extremely rare the past few years.
Give us a call for a free tour of homes for sale in the area or a free market analysis if you are considering selling. As the area’s largest and most experienced brokerage we have the largest selection of Deep Creek Lake and Wisp Ski Resort properties for sale. Please note we can show you any property listed for sale, even those listed with other real estate companies. Whether you plan on buying or selling, we look forward to helping you with all your real estate needs.