Monsters don’t like swimming in Deep Creek Lake – they prefer Lake EERIE!! I’m going to try for limited Halloween puns in this update, and that should be easy because most of the numbers aren’t scary at all! Even MORE activity. Rates continue to drop, and the phone keeps ringing. A fantastic end to the summer/fall season is currently underway. Two concerning items to keep an eye on – Lodestone golf course area properties continue to hit new lows on recent closings. There was a sale that just closed at $651k. Only 20% of the lakefront homes on the market are under contract (12 out of 60). There seems to be a logjam of homes on the water, and I predict some more price drops to get these homes moving again. I saw SNOW FLURRIES this morning, WITCH means it’ll be a BONE chilling night for trick-or-treaters. I heard a RUMOR (reliable sources) that Starbucks and Chipotle are coming to Oakland, maybe in the Lowes complex… we’ll see?!? Big news – I am beyond thrilled to report that my largest sale ever closed yesterday for $2,800,000 – the old Beitzel Corporation complex (31 acres) in Bittinger Rd. Sunrise Sanitation purchased the building as their new HQ, and they intend to build a new recycling center for Garrett County! Keep an eye out for their press release.
Curious about the market? Just Call Jay – 301-501-0420!
Notable activity over the last week or so:
10 new listings (same), 13 price reductions (down from 20), 1 price increase (?), 3 off market (down from 11), 20 closed sales over the last 7 days
$~3.5 million lakefront home on Lake Shore Drive UNDER CONTRACT
19 homes under contract are under $300k (down from 23), 39 homes $300k-$1 million (down from 50), 18 homes over $1 million (up from 17)
Fun fact: 56 homes still available in GC priced over $1 million (down from 62)
700+/- sf commercial space in downtown Oakland – ask Jay
Lodestone update – 4BR, 3BA, 2k-sf just closed for $651k, LOWEST PRICE IN A LONG TIME!
48 waterfront properties actively for sale (down from 52); 12 under contract
53 water access, lake view, dockslip homes for sale (down from 54)
161 lots/land for sale (down from 165), 17 of which are under contract (same)
25+ years of experience, creative solutions to sell your property – call me for a free consultation! jay@deepcreeksales.com 301-501-0420 (call/text)
222 active residential listings on the market (down from 234 last report)
75 under contract/pending (down from 89 last report)
58 total home sales closed in October. I expect a few more today
