The price reductions are working. Well, that and interest rates dropping to levels last seen in 2022. All of a sudden, the real estate market picks back up again at DCL & Garrett County, and the fall market is officially on fire. Several homes that I have listed over the past 2-3 weeks are already under contract, with multiple offers on two. My Ski Harbor listing closed for full price; I closed on a golf course lot at Fantasy Valley for $65k (it had been for sale for 2+ years), and the renovation project home on Hines Drive closed at $376k – $77k over asking price. Inventory is dropping – 14 homes pulled off the market in the last week, 46 sales closed in September, and 85 pending homes. There are still some cracks in the market in certain price ranges, as well as a concerning amount of waterfront homes still for sale post summer – 49 lakefront properties to choose from. There are 178 (down from 189) homes in the immediate lake area still for sale. Looking for land? 119 lots/land available for sale in the lake area. I was able to tour a custom home in Holy Cross recently, and it is FANTASTIC. If you have a spare $5 million and want to take a look, just let me know 🙂 Curious about the market? Just Call Jay – 301-501-0420!
Notable activity over the last week or so:
11 new listings, 9 price reductions, 14off-markett over the last 7 days
5BR new construction home near Lodestone sold $699k
18 homes under contract are under $300k, 55 homes $300k-$1 million, 12 homes over $1 million
Fun fact: 81 homes in GC are priced over $1 million
700+/- sf commercial space in downtown Oakland – ask Jay
Arrowhead lakefront townhouse sold $635k
49 waterfront properties actively for sale (down from 50)
59 water access, lake view, dockslip homes for sale (down from 68)
187 lots/land for sale, 17 of which are under contract
25+ years of experience, creative solutions to sell your property – call me for a free consultation! jay@deepcreeksales.com 301-501-0420 (call/text)
242 active residential listings on the market (down from 265 last report)
85 under contract/pending (up from 77 last report)
46 total home sales closed in September, up from 39 in August
