Hello 2022! It is a new year and we wanted to take a detailed look at the current real estate market.
Here are the current stats (pulled on 01/11/22) broken down for each county.
Allegany County, Maryland
Active Residential Homes: 139 homes
Under Contract: 94 homes
Closed in the Last 30 Days: 50 homes
Average Sale Price: $144,209
Average Days on the Market: 44
Garrett County, Maryland
Active Residential Homes: 93 homes
Under Contract: 73 homes
Closed in the Last 30 Days: 42 homes
Average Sale Price: $637,513
Average Days on the Market: 42
Mineral County, West Virginia
Active Residential Homes: 23 homes
Under Contract: 28 homes
Closed in the Last 30 Days: 19 homes
Average Sale Price: $223,874
Average Days on the Market: 33
Hampshire County, West Virginia
Active Residential Homes: 41 homes
Under Contract: 47 homes
Closed in the Last 30 Days: 23 homes
Average Sale Price: $297,409
Average Days on the Market: 48
What does this mean?
If you are looking to sell, this is still a strong market. In our November market update, we noticed our inventory in Maryland slowly coming back. However, after the holiday’s, the inventory numbers are back down and there seems to be a lot of buyers continuing to look in 2022.
If you own property in Mineral or Hampshire County, WV and have been thinking about selling- here is your sign. There are currently ZERO active houses listed for sale in Fort Ashby!!!! There are a total of THREE active houses in the Ridgeley zip code. If you own a home (or even land) in the Frankfort District, this is a great time to sell. We are seeing prices rise in both Mineral and Hampshire Counties due to this drop in inventory.
What kind of properties are in high-demand right now? Larger, custom homes (especially if they have some acreage!), affordable homes in the $140-180k price range, farms and large tracts of land suitable for building or recreation.
If you are looking to buy, this is a competitive time to purchase but interest rates are still low and new inventory has been hitting the market every week. If you are a first-time homebuyer or have questions about how to succeed in a seller’s market, please feel free to reach out to Mountainside Home Realty and we can provide you information on what a buyer’s agent is and some tips and tricks on how to handle this crazy market.
If you would like to talk to an agent about buying or selling, please reach out to Mountainside Home Realty at 301-722-0190 or email us at email@example.com