Summer keeps summering here at DCL & GC. The market has been wild – crazy prices (high and low) and weird market stats. Here’s one for you – the highest sale of the year so far is NOT a lakefront home but rather a unicorn $2,715,000 sale in Deep Creek Highlands. Here’s another one: of the 28 lake access homes (not waterfront) for sale with a dockslip, only 3 are under contract. Another fun fact – of the roughly 60 available waterfront properties, only 10 are under contract. 50 lakefront homes/condos are still available on August 15th. It’s been interesting to see the growing number of price reductions, as well. All that said, homes are still selling if they are priced reasonably. Inventory is still high, but buyers have more to choose from, and you can see a trend developing with less aggressive asking prices. I listed a few homes for sale this past week (links below) and I’m working on a lakefront townhouse at Ski Harbor, a home in the town of Grantsville under $300k, and a rare fixer-upper with a dock slip that will be a hot commodity.
Notable activity over the last week or so:
23 price reductions over the last 7 days
4BR,3BA home $679k near Lodestone under contract (under $700k?!?)
2BR, 2BA – 2-level Will o the Wisp unit $495k
Deal alert – 2BR 1BA W Pennington St for $110,000
Higher than average sales prices in the town of Oakland recently – $365k, $465k, $499k
Starter homes in Oakland & Mt Lake Park closed for $132k, $150k
Several new listings in Sky Valley
25+ years of experience analyzing market trends and honest assessments of real estate values – call me for a free consultation! jay@deepcreeksales.com 301-501-0420 (call/text)
283 active residential listings on the market (down from last report)
68 under contract/pending (up from last report)
46 total home sales closed in July, 13 so far in August
