Jay Ferguson – Real Estate Market Update February 23

Jay Ferguson – Real Estate Market Update March 17 (Deep Creek Lake, MD)

Post Deep Creek Dunk weekend update! The dunk was a HUGE success. The local version for GC school kids, the Cool Schools Dunk, raised over $42,000! That money stays here in Garrett County and will benefit special needs programs locally. We are in the middle of a nor’easter as I type this. Probably 7-8 inches of fresh powder on the ground, and it’s a winter wonderland outside right now….after 61 degrees temps last week. Welcome to Garrett County! The interest rate news today is that they are the lowest point since 2022 – average 6.09%. If you are in the market for a mortgage, our in-house lenders can help. The Ross Group at Intercoastal Mortgage is fantastic to work with – HIGHLY recommend! Inventory is starting to creep up again – it’s certainly that time of year. Keep in the loop with some of my buyer tools like auto email updates, custom searches, and disclosure files for ANY and EVERY listed property for sale. If you need information on anything real estate related, I’m your guy 🙂

Notable recent activity:
161 homes currently for sale (up from 142)
26 sales in January (up from 23 sales Jan 2025)
Closed sales – 20 total sales so far in February (12 over the last 7 days)
Pending sales – 43 homes, 3 over last 7 days
New listings – 10 new active listings in the last 7 days – 2 coming soon
Price changes – 9 reductions in the last 7 days
Off-market – 9 homes de-listed in the last 7 days

Odds and ends:
$2.845 million lakefront home near Lake Shore Drive CONTRACT
$1.825 million 7BR, 7BA Lodestone hole #13 SOLD
Some pricing parity in and around Wisp Resort – new listings priced under $900k, meanwhile, similarly sized homes under contract for $1.2 million+. Do your homework!
Several new condo/townhouse listings starting at $299k+
114 C St – ~ 32x24garage, nicely finished $59,900
$399k lake access home in Paradise Ridge SOLD

Breakdown of market:
43 total contracts – 14 under $300k, 19 $300k to $999k, 10 over $1 million
30 homes for sale over $1 million (down from 38)
74 water-oriented homes still available – 26 lakefront, 48 off lake
166 lots/land listings for sale, 18 of which are under contract

Just Call Jay! 25+ years of experience, creative solutions to sell your property – call me for a free consultation! jay@deepcreeksales.com 301-501-0420 (call/text)

If you ever want specific numbers or stats about your neighborhood or certain segments of the market, let me know! I can gather any data you might need and even set you up with auto email updates of ANY stats that MATTER TO YOU! jay@deepcreeksales.com 301-501-0420

 

Average Sales Price

Active Listings

Closed Sales

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