Is Garrett County, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Garrett County is a buyer's market

Buyer's
Market

Difference Since March 2023

Since last year, Garrett County has remained a Buyer'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

$459,833

$245/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$39,833(+9.5%)

Key Takeaway

Homes in Garrett County have sold for 9.5% more than they did a year ago.

Summary: The median home sold price in Garrett County was $459,833 in March 2024, up 9.5% from last year, and the median price per square foot was $245.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $182.5K$158.5K
-13.2%
2 $235K$237.5K
+1.1%
3 $342.5K$380K
+10.9%
4 $714K$575K
-19.5%
5+ $780.5K$1.0M
+32.9%

Summary: Garrett County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.2%, 2 bedroom homes increased by 1.1%, 3 bedroom homes increased by 10.9%, 4 bedroom homes decreased by 19.5%, and 5+ bedroom homes increased by 32.9%.

Median Sold Price Compared To Nearby Counties

Mineral County
+18.2%
Garrett County
+9.5%
Allegany County
0.4%

Housing Supply in Garrett County, MD

How many homes are available in Garrett County, MD?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
333366+9.9%

Summary: The Garrett County real estate market had 366 homes for sale in March 2024, a 9.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 811
+37.5%
2 3644
+22.2%
3 111112
+0.9%
4 7077
+10.0%
5+ 108122
+13.0%

Summary: The Garrett County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 37.5%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 13%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2529+16.0%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Garrett County, you may be able to get a good deal. 62.1% of homes here sold below asking price last month.

Summary: A total of 29 homes were sold or pending in Garrett County in March 2024, up by 16.0% month-over-month. Of the 29 sold homes, 62% were sold under asking, 17% were sold at asking, and 21% 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

Mar 2023Mar 2024CHANGE
114 Days51 Days-55.1%

Summary: Homes in Garrett County had an average of 51 days on market in Mar 2024, down by 55.1% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Garrett County are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 29 homes were sold in Garrett County; 62% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

Newest Listings in Garrett County, MD

Nearby Markets to Garrett County, MD

What housing markets are near Garrett County, MD?