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Subscribe via RSSGood Start to Deep Creek Real Estate Market in 2012
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By: Mike Kennedy mkennedy@railey.com 301-616-6106 February 13th, 2012 Category: Deep Creek Lake Buyer Info, Deep Creek Lake Market Update, Deep Creek Lake Real Estate, Garrett County Real Estate, Wisp Real Estate |
Monthly residential sales, which are a key indicator in the local Deep Creek Lake and Garrett County real estate market, experienced its highest number of January sales since 2007. In Garrett County there were 27 residential sales in the first month of 2012 totaling $9,016,297. Below is a summary of total January sales since 2007.
27 residential closings in Jan 2012/ $9,016,297.00
18 residential closings in Jan 2011/ $7,178,025.00
12 residential closings in Jan 2010/ $4,043,000.00
10 residential closings in Jan 2009/ $3,987,000.00
14 residential closings in Jan 2008/ $8,107,750.00
29 residential closings in Jan 2007/ $10,258,100.00
The trends and statistics are starting to confirm that our local real estate market started experiencing it’s slow down in 2008, bottomed out in 2009, and then has experienced slow, steady growth since that point. Even though sales are trending upward and improving, property values have continued to soften the past few years but have recently started to stabilize in most of our various market segments. Now is a great time to think about purchasing a second home at Deep Creek Lake. Prices are down from their peak a few years ago and interest rates are at, or near, their lowest point ever.
Give us a call for a free tour of homes for sale in the area. 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. We look forward to helping you with all your real estate needs.