Summer is almost here and our spring market has been very busy!
Check out the current stats (pulled on 05/16/22) broken down for each county.
Allegany County, Maryland
Active Residential Homes: 119 homes
Coming Soon Residential Homes: 10
Under Contract: 109 homes
Closed in the Last 30 Days: 66 homes
Average Sale Price: $130,528
Average Days on the Market: 43
Garrett County, Maryland
Active Residential Homes: 113 homes
Coming Soon Residential Homes: 2
Under Contract: 75 homes
Closed in the Last 30 Days: 50 homes
Average Sale Price: $509,140
Average Days on the Market: 41
Mineral County, West Virginia
Active Residential Homes: 26 homes
Coming Soon Residential Homes: 0
Under Contract: 28 homes
Closed in the Last 30 Days: 19 homes
Average Sale Price: $203,616
Average Days on the Market: 21
Hampshire County, West Virginia
Active Residential Homes: 37 homes
Coming Soon Residential Homes: 3
Under Contract: 36 homes
Closed in the Last 30 Days: 25 homes
Average Sale Price: $266,415
Average Days on the Market: 22
What does this mean?
Since our April update, inventory has continue to drop and the amount of SOLD homes in the last 30 days are up. Even with more inventory being added every day, the demand from buyers is still there and homes are flying off the shelves.
The market is strong and if you have been thinking about selling, this is a great opportunity. Our market is in desperate need of affordable homes under $150,000 that are USDA and FHA eligible, homes with acreage, multi-family investment properties and larger homes in the $200,000 to $400,000 price range.
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 going to continue to rise in the next months so you might want to take advantage of the current rates! 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 info@mdmountainsidehomes.com
