Wow! Summer started off with a blast. Not only have we been busy with summer fun, but we have also been busy at work! We are seeing an increase of inventory which is great news for buyers.
Residential stats pulled from Bright MLS on June 28, 2023 at 8:30pm.
Allegany County, Maryland
Active Residential Homes: 117 homes
Coming Soon Residential Homes: 4
Under Contract: 92 homes
Closed in the Last 30 Days: 61 homes
Average Sale Price: $148,950
Average Days on the Market: 52
Average Sold Price/ Original Price: 92.7%
Garrett County, Maryland
Active Residential Homes: 153 homes
Coming Soon Residential Homes: 1
Under Contract: 65 homes
Closed in the Last 30 Days: 44 homes
Average Sale Price: $691,221
Average Days on the Market: 55
Average Sold Price/ Original Price: 94.4%
Mineral County, West Virginia
Active Residential Homes: 34 homes
Coming Soon Residential Homes: 2
Under Contract: 33 homes
Closed in the Last 30 Days: 14 homes
Average Sale Price: $232,064
Average Days on the Market: 56
Average Sold Price/ Original Price: 97.6%
Hampshire County, West Virginia
Active Residential Homes: 56 homes
Coming Soon Residential Homes: 5
Under Contract: 43 homes
Closed in the Last 30 Days: 18 homes
Average Sale Price: $199,381
Average Days on the Market: 36
Average Sold Price/ Original Price: 97.9%
An important stat to pay attention to is the average list to sale price. This shows how close the house sold to its original listing price. Over the last year, we have seen this percentage decrease meaning sellers are not getting as close to what they originally asked for.
What does this mean?
If you are looking to sell, this is the time to reach out to a REALTOR! There has been a large increase in homes under contract in Allegany, Mineral and Hampshire counties. Inventory levels may be coming back but there are plenty of well qualified buyers out there! This is a great opportunity to sell your home.
If you are looking to buy, talk to an agent on how to succeed in this fast pace 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 changing market.
We are in need of some specific inventory. If you have been thinking of selling anything fitting this description, please let us know:
-Mineral County homes in the $100,000 to $500,000 range
-Homes (especially with acreage!) in the $200,000+ range in Western Maryland and West Virginia
-Multi-family investment properties in Western Maryland and West Virginia
-Recreation properties with river, creek access or frontage
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 info@mdmountainsidehomes.com.
