Spring is in full bloom and so is our local real estate market! Houses are popping up every day. We have been busy helping buyers and sellers but wanted to take a moment to break down the current stats for you!
Residential stats pulled from Bright MLS on May 8, 2023.
Allegany County, Maryland
Active Residential Homes: 125 homes
Coming Soon Residential Homes: 10
Under Contract: 65 homes
Closed in the Last 30 Days: 61 homes
Average Sale Price: $136,234
Average Days on the Market: 51
Average Sold Price/ Original Price: 94.6%
Garrett County, Maryland
Active Residential Homes: 127 homes
Coming Soon Residential Homes: 4
Under Contract: 67 homes
Closed in the Last 30 Days: 32 homes
Average Sale Price: $505,681
Average Days on the Market: 57
Average Sold Price/ Original Price: 90.3%
Mineral County, West Virginia
Active Residential Homes: 33 homes
Coming Soon Residential Homes: 4
Under Contract: 22 homes
Closed in the Last 30 Days: 18 homes
Average Sale Price: $192,264
Average Days on the Market: 188 (the average was skewed by a home that was listed for 2492 days, taking that home out of the equation, the average was 53 days)
Average Sold Price/ Original Price: 89.5%
Hampshire County, West Virginia
Active Residential Homes: 56 homes
Coming Soon Residential Homes: 1
Under Contract: 35 homes
Closed in the Last 30 Days: 17 homes
Average Sale Price: $260,629
Average Days on the Market: 42
Average Sold Price/ Original Price: 98.6%
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! Listings are back to getting multiple offers and over listing price! So far, our spring market has been STRONG and there are several QUALIFIED buyers ready to purchase now.
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
-Acreage and building lots in Western Maryland and West Virginia
-Multi-family investment properties in Western Maryland and West Virginia
-Recreation properties with river, creek access or frontage
-Homes in the $100,000 to $250,000 range in Mount Savage
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.
