Deep Creek Lake and Garrett County real estate sales update ..

September sales data for each of Maryland's counties are now available at the MAR website. Click here to see some previous updates on the Deep Creek real estate market. Looking at the Garrett County data specifically one can notice that the number of sales for September 2008 was greater than in September 2007 while at the same time both median and average sales prices were down. The more telling number in my opinion, however, is the inventory data. While statewide inventory levels have essentially stabilized over the past year, Garrett County's September 2008 inventory (758) is significantly higher than a year earlier (590). I can't know for certain, but I suspect this further supports my hypothesis that the Garrett County market, consisting of a large second home segment, tends to lag other markets around the region. Time will tell if this bears out so I will continue to follow the numbers to see if the recovery in Garrett County also lags the recovery in the markets where second home buyers actually reside.

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