Spring is finally here!!! Western Maryland and nearby West Virginia are starting to gear up for our busy spring market.
Here are the current stats (pulled on 03/17/22) broken down for each county.
Allegany County, Maryland
Active Residential Homes: 111 homes
Coming Soon Residential Homes: 9
Under Contract: 103 homes
Closed in the Last 30 Days: 64 homes
Average Sale Price: $125,578
Average Days on the Market: 76
Garrett County, Maryland
Active Residential Homes: 73 homes
Coming Soon Residential Homes: 0
Under Contract: 83 homes
Closed in the Last 30 Days: 42 homes
Average Sale Price: $537,896
Average Days on the Market: 53
Mineral County, West Virginia
Active Residential Homes: 39 homes
Coming Soon Residential Homes: 1
Under Contract: 22 homes
Closed in the Last 30 Days: 15 homes
Average Sale Price: $127,700
Average Days on the Market: 77
Hampshire County, West Virginia
Active Residential Homes: 32 homes
Coming Soon Residential Homes: 1
Under Contract: 40 homes
Closed in the Last 30 Days: 28 homes
Average Sale Price: $229,839
Average Days on the Market: 57
What does this mean?
Since our February update, inventory has dropped and the amount of under contract and SOLD homes are up. Listings are coming up everyday but flying off the shelves! This tells us that there are plenty of pre-qualified buyers looking to take advantage of the current interest rates before they go up.
If you are looking to buy, this is a competitive time to purchase but new inventory has been hitting the market every week. Interest rates are most likely going to rise in the next months so you might want to take advantage of the current rates- which are still low! 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 protected]
