$45,000
4.00 Acres
Land
Susan R Bell, Listing Office: Railey Realty, Inc.
Is Garrett County, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Garrett County was a Seller's Market.
Key Takeaway
Garrett County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Garrett County, MD
How much do homes in Garrett County, MD cost?
Median Sold Price
$455,250
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$41,916(+10.1%)
Key Takeaway
Homes in Garrett County have sold for 10.1% more than they did a year ago.
Summary: The median home sold price in Garrett County was $455,250 in October 2024, up 10.1% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170.7K | $283.7K | +66.2% |
| 2 Bedrooms | $232.5K | $249.9K | +7.5% |
| 3 Bedrooms | $345K | $352.5K | +2.2% |
| 4 Bedrooms | $584.9K | $550K | -6.0% |
| 5+ Bedrooms | $909.9K | $1.1M | +22.5% |
Summary: Garrett County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 66.2%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 2.2%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes increased by 22.5%.
Median Sold Price Compared To Nearby Counties
| Allegany County | $130.5K | $148.3K | +13.7% |
| Garrett County | $413.3K | $455.2K | +10.1% |
| Mineral County | $179.5K | $187K | +4.2% |
| Grant County | $222K | $230K | +3.6% |
Housing Supply in Garrett County, MD
How many homes are available in Garrett County, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 285 | 282 | -1.1% |
Summary: The Garrett County real estate market had 282 homes for sale in October 2024, a 1.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 11 | +10.0% |
| 2 Bedrooms | 28 | 28 | 0.0% |
| 3 Bedrooms | 107 | 96 | -10.3% |
| 4 Bedrooms | 55 | 55 | 0.0% |
| 5+ Bedrooms | 85 | 92 | +8.2% |
Summary: The Garrett County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 10.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 8.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 40 | 38 | -5.0% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Garrett County, you may be able to get a good deal. 71.1% of homes here sold below asking price last month.
Summary: A total of 38 homes were sold or pending in Garrett County in October 2024, down by 5.0% month-over-month. Of the 38 sold homes, 71% were sold under asking, 16% were sold at asking, and 13% were sold over asking.
Days on Market for Garrett County, MD
How long does it take to sell a home in Garrett County, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 64 Days | 53 Days | -17.4% |
Summary: Homes in Garrett County had an average of 53 days on market in Oct 2024, down by 17.4% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Garrett County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 38 homes were sold in Garrett County; 53% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
