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| MARCH 2025 | |||
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| Units Sold 35 |
Active Inventory 204 |
Median Sale Price $535,000 |
Days On Market 113 |
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| Down Vs. Year Ago |
Up 39% Vs. Year Ago |
Up Vs. Year Ago |
Up Vs. Year Ago |
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Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 35 sold this month in Garrett County Real Estate. This month's total units sold was lower than at this time last year, a decrease from March 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 57 units or 39%. The total number of active inventory this March was 204 compared to 147 in March 2024. This month's total of 204 is higher than the previous month's total supply of available inventory of 188, an increase of 9%. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last March, the median sale price for Garrett County Homes was $462,500. This March, the median sale price was $535,000, an increase of $72,500 compared to last year. The current median sold price is higher than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 65 |
Current Contracts 38 |
Sold Vs. List Price 94.8% |
Months of Supply 5.8 |
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| No Change Vs. Year Ago |
Down -7% Vs. Year Ago |
Down -2.4% Vs. Year Ago |
Up 51% Vs. Year Ago |
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Months of Supply
In March, there was 5.8 months of supply available in Garrett County, compared to 3.9 in March 2024. That is an increase of 51% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand. |
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New Listings & Current Contracts
This month there were 65 homes newly listed for sale in Garrett County, which is similar to the amount in March 2024. There were 38 current contracts pending sale this March compared to 41 a year ago. The number of current contracts is 7% lower than last March. |
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Sale Price to List Price Ratio
In March, the average sale price in Garrett County was 94.8% of the average list price, which is 2.3% lower than at this time last year. Days on Market
This month, the average number of days on market was 113, higher than the average last year, which was 73. This increase was impacted by the limited number of sales. | |||
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| *Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates. | |||
 Information included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc. |
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