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| Due to the popularity of Deep Creek Lake and Garrett County, it is
no secret that real estate prices have appreciated considerably over the past
several years. Prices might seem high compared to other areas, but so is the
value of the vast array of amenities the area has to offer. Below is a summary
of what you can expect to pay for the various types of resort properties
offered in the Deep Creek Lake and Garrett County area.
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(Click on links below for
more information)
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| Deep Creek Lake |
With most of the shoreline now fully developed, lakefront, lake access, and
lake view properties have become very valuable investments. Over the past
several years, appreciation rates for lake properties have ranged anywhere
between 11%-42% per year (all data obtained from MRIS). Zoning
regulations and the scarcity of available land have made major amounts of
new development and new construction highly unlikely, with the exception
of a few developments such as Deep Creek Mountain Resort and the Reserve
at Holy Cross. Residential properties around the lake are greatly varied -
from modest cottages built in the 1950's to multi-million dollar estates
with state-of-the-art features. Sadly, it is now uncommon to find a newer
lakefront home of quality for under $1M. However, there are now options
for older, more modest lakefront cabins, cottages, and homes in the $600-$900K
range, some with great settings, views, and lakeside yards. Options are
still plentiful for newer lake access homes in the $300-$750K range - some with
deeded boat slips and lake views, some with just access to the lake. There are
many newer townhouse choices under $500,000 - some with
ski-in/ski-out access and incredible lake views.
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Current Deep Creek Lake Prices
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Min |
Max |
Avg |
# Available |
| Lakefront |
$329,000 |
$3,299,900 |
$1,050,679 |
77 |
| Lake Access
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$267,700 |
$1,345,000 |
$596,433 |
84 |
| Lake Area
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$27,900 |
$1,750,000 |
$556,221 |
89 |
| Ski-In/Ski-Out |
$769,900 |
$1,750,000 |
$1,104,647 |
15 |
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Min |
Max |
Avg |
# Available |
| Lakefront |
$184,000 |
$1,800,000 |
$673,285 |
26 |
| Lake Access
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$63,500 |
$1,495,000 |
$278,151 |
73 |
| Lake Area
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$45,000 |
$795,000 |
$168,452 |
147 |
| Ski-In/Ski-Out |
$159,900 |
$725,000 |
$416,365 |
26 |
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Min |
Max |
Avg |
# Available |
| Lakefront |
$219,500 |
$995,000 |
$506,545 |
31 |
| Lake Access
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$299,999 |
$995,000 |
$427,242 |
19 |
| Lake Area
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$69,900 |
$799,000 |
$325,773 |
52 |
| Ski-In/Ski-Out |
$309,000 |
$417,000 |
$358,129 |
7 |
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| * All data obtained by MRIS including listing statistics from
other area brokers.
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 It
is important to understand that each property at Deep Creek Lake has its own
unique features and qualities that can greatly affect its value. The higher
priced properties have more qualities and features than the lower priced ones.
Some people do suffer "sticker shock," but keep in mind what others may have
paid coming into the market just a few short years ago. Deep Creek Lake has
become a much sought-after destination. It is a place that people come to play
and spend time with their friends and family. It's close to work but just far
enough away to feel the escape to the country. While some "good deals" do come
along from time to time, that is not the norm. Still, the Deep Creek Lake
market has something for everyone. No matter what your budget is, our agents
will help you find a property that satisfies your needs and goals.
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| Garrett County |
Generally, the farther you travel from Deep Creek Lake and the Wisp Ski Resort,
the more prices decline. If you are looking for a cabin in the woods and
don't care to be so close to all of the lake activities, there are numerous
opportunities. Maybe you are looking for a larger parcel of land to ride your
ATV or hunt on. Maybe you would like to find some riverfront property on the
Yough River for a fishing cabin. Perhaps you are looking for an
entry level home in one of Garrett County's charming neighborhoods such as
Oakland, Accident, Friendsville, or Grantsville. With low crime rates and great
schools and healthcare, these communities could certainly be characterized as
classic versions of "Small Town America." Garrett County has something
for everyone in most price ranges - from quaint cabins to large, private
estates with expansive mountain views. One of the best things about Garrett
County is that you can still get to Deep Creek Lake and the Wisp Ski area from
anywhere in about 25 minutes. You can still enjoy the amenities
of the area without having to pay the high prices associated with the lake.
However, there are certain issues that require special attention. For
instance, most of Garrett County, except for Deep Creek Lake, is currently
un-zoned. This is one of the numerous issues to consider when buying property
in Garrett County. Our agents will be pleased to guide you through this very
complex process.
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Current Garrett County Prices
(Excluding Deep Creek Lake Area)
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Price |
Acres |
Lot Sq Ft
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| Minimum |
$24,900 |
0.07 |
3,049 |
| Maximum |
$2,500,000 |
174 |
7,590,766 |
| Average |
$373,868 |
6.3 |
273,562 |
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Price |
Acres |
Lot Sq Ft
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| Minimum |
$5,500 |
0.07 |
3,049 |
| Maximum |
$7,000,000 |
228 |
9,912,514 |
| Average |
$165,710 |
10.0 |
434,242 |
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* All data obtained by MRIS for all Garrett
County listings not located in Area 4 - Deep Creek Lake.
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