June 2020 Real Estate Rundown By Jay Ferguson

“There are three kinds of lies: lies, damned lies, and statistics.” – Mark Twain

My name is Jay Ferguson and I am one of the owners of the real estate division of Taylor Made Deep Creek Vacations & Sales. I am entering my 19th year in the real estate business here in Garrett County and at Deep Creek Lake. If you are interested, you can click here find out more about me personally and my background.

I will be writing a monthly blog post about our local real estate market, sharing & interpreting statistics and offering some insights into the market as a whole…as I see it. These are my personal thoughts and musings about the market in general and are not intended as anything more specific. And, to be clear, I am an optimistic, glass half-full kind of guy.  

Lastly, every stat I reference is based on the official stats published by Bright MLS on or around the 15th of each month. My plan is to give you straightforward stats coupled with my analysis from the front lines and let you interpret what you read in your own way.

The month of May was a steroid shot for the Deep Creek Lake market. Even after being shutdown for the first half of the month, the second half of May was on fire. Vacation rentals are booked solid through the summer as demand ‘to get out the house’ finally gave way with the opening of our transient vacation rental homes.

You can see it in the numbers below – people are buying homes left and right. We continue to have inventory issues and thats good news for sellers, but buyers now have fewer homes to choose from. Many people that I spoke to about selling this summer have decided to keep their property for the time being and are spending their time here at the lake instead. That’s part of the inventory problem.

Continue reading June 2020 Real Estate Rundown By Jay Ferguson