Is Garrett County, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$467,633
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Garrett County have sold for 17% more than they did a year ago.
Summary: The median home sold price in Garrett County was $467,633 in June 2024, up 17% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205K | $158K | -22.9% |
| 2 Bedrooms | $239.5K | $221.1K | -7.7% |
| 3 Bedrooms | $291.2K | $385K | +32.2% |
| 4 Bedrooms | $649K | $537.5K | -17.2% |
| 5+ Bedrooms | $774.5K | $1.1M | +48.5% |
Summary: Garrett County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.9%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 32.2%, 4 bedroom homes decreased by 17.2%, and 5+ bedroom homes increased by 48.5%.
Median Sold Price Compared To Nearby Counties
| Garrett County | $399.8K | $467.6K | +17.0% |
| Allegany County | $133.7K | $137.3K | +2.7% |
Housing Supply in Garrett County, MD
How many homes are available in Garrett County, MD?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 245 | 268 | +9.4% |
Summary: The Garrett County real estate market had 268 homes for sale in June 2024, a 9.4% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 12 | +20.0% |
| 2 Bedrooms | 32 | 27 | -15.6% |
| 3 Bedrooms | 79 | 96 | +21.5% |
| 4 Bedrooms | 42 | 52 | +23.8% |
| 5+ Bedrooms | 82 | 81 | -1.2% |
Summary: The Garrett County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 15.6%, 3 bedroom homes increased by 21.5%, 4 bedroom homes increased by 23.8%, and 5+ bedroom homes decreased by 1.2%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 29 | 20 | -31.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 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. 55% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Garrett County in June 2024, down by 31.0% month-over-month. Of the 20 sold homes, 55% were sold under asking, 25% were sold at asking, and 20% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 45 Days | 43 Days | -3.4% |
Summary: Homes in Garrett County had an average of 43 days on market in Jun 2024, down by 3.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 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 June 2024, 20 homes were sold in Garrett County; 65% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
