Jay Ferguson – Real Estate Market Update May 23

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

Memorial Day weekend is upon us, and there is plenty of inventory out there if you are in the market to purchase. 260 active residential listings (countywide) is the highest # of homes for sale since 2020. This is definitely more of a return to normal for our area and traditionally longer days on market. I’m seeing a lot more price reductions, as well. There is no shame in a price reduction – natural reactions to changes in the market and/or sellers’ timeline changing. I personally had a few price reductions recently: one for this lakeview chalet that fronts a small stream – now $629,000. Take a closer look at this 3.43-acre parcel with TWO HOMES on Mayhew Inn Rd, now $449k. I’m working on 2 new lakefront listings and something big (6500sf) with lake access and a dock near the mid part of the lake, should have those ready by the end of the month. I also had a fantastic time showing homes this past weekend to new clients. If you ever want a private tour of homes with lots of info and low pressure, let me know. It’s a lot of fun for me to share 25+ years’ worth of knowledge of the lake and its history!

Looking for an honest assessment of the market or price opinions on your property? Call me – 301-501-0420.

260 active residential listings on the market (up from 235 last update)
42 under contract/pending (down from 45 last update)
24 total home sales closed so far in May

Sign-up for the DCT Newsletter