After a real estate agent commented on my posting yesterday ..

I thought I should look up some numbers and see how the Garrett County real estate market in the first half of 2008 compared to same market in previous years. I've compiled the data from the Maryland Association of Realtors and posted it below. Also see the original comments on the blog here.


As you can see, total dollar volume of sales in Garrett County in the first half of 2008 was essentially the same as it was five years earlier in 2003 and about half of what it was at the peak of the market in 2005. Calling this market strong or well and improving daily is simply ignoring the truth. Furthermore, one can see that the first half average sales price in 2008 is only marginally higher than it was in 2005 and this metric (as poor as it may be statistically) has actually grown at a pace slower than inflation since 2005. Simple conclusion, the market is weak right now for a variety of reasons and anyone trying to tell you otherwise may not be telling you the truth. Buyer beware.

Don't forget to check back to Dan's Deep Creek Blog for future updates.