“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.
January 2020 – Two part stats update.
I will look back on 2019 as a whole first, and then see where we ended up for the month of December 2019.
2019 turned out to be a spectacular year on several
fronts, as you can see from the chart below. ALL OF THESE NUMBERS ARE
-Our total sold volume was up 16% to nearly $190 million dollars county-wide.
-The average sales price was up 3.82% to $348,960
-There were 516 units sold vs 487 in 2018 – that’s an increase of 5.95%. That’s the most robust year we have had in a long time!
-Days on market were lower by 4.1%
-The average list-to-sale price was 90.3%
And for those of you who are curious, there were 126 cash deals were no financing was involved. That’s close to 25% of our transactions for the year. 320 deals used conventional financing and there were approximately 50 deals that were VA, FHA or USDA financing.
Continue reading January 2020 Real Estate Rundown By Jay Ferguson