Page 52 - Garrett County 2022/2023 Visitors Guide

Quality of Life: HOUSING OPTIONS Outdoor Experiences
PHOTO BY TIMOTHY JACOBSEN
PHOTO BY TIMOTHY JACOBSEN
Booming
GARRETT COUNTY'S HOUSING MARKET IS
In the age of COVID, Garrett County’s relaxed rural lifestyle and scenic beauty have made it more attractive to homebuyers than ever.
The housing market, along with everything else, shut down at the outset of the pandemic. But starting with the summer
of 2020, Garrett County real estate went through what Jon Bell of Railey Realty in McHenry considers an unprecedented boom.
According to Railey Realty’s real estate market report for September 2021, 48% of homes sold in 10 days or less this year, and townhouse/condo sales are up 78% over 2020. There has been a 65% increase in sold dollar volume, a 32% increase in average sales prices, and a 29% increase in total homes sold.
“That boom is still going on now,” he said. “A lot of times, I’ll joke that at Deep Creek, we were social distancing before it was a thing. It’s always been our lifestyle to forget the world exists and embrace the outdoors.”
COVID brought a widespread embrace of telework that isn’t going anywhere, and that
fact has had more buyers looking to move to Garrett County full time, Bell said. “Last year, people still bought mostly vacation houses at Deep Creek. They did spend a lot of time here, but they weren’t selling their primary residences. This year, we actually have seen a few buyers who are relocating.”
and broadband for those who need to telework.
While the low inventory and increase in sale prices suggest a seller’s market, buyers have low interest rates in their corner, Bell said. “Interest rates are incredibly low right now. The purchase price might be higher, but your monthly payments are going to be about the same. I would encourage buyers to hurry up, because it’s a safe assumption that interest rates will go back up.”
For those concerned about the area’s affordability in general: remember that prices vary considerably across Garrett County. While the average sales price of a lakefront home is currently in the low seven figures, lake access homes have averaged in the high $600s so far in 2021. Further afield from Deep Creek Lake, prices are much lower: in Grantsville, the average listing home price is $202,500. In Accident, homes go for $265,000 on average, and in Mountain Lake Park, average prices are as low as $155,500.
“There really is no bad area of the county,” Bell said. “All the areas are competitively priced based on what you get.”
"It’s always been our lifestyle to forget the world exists and embrace the outdoors.”
50 The Deep Creek Experience
Garrett County has many advantages to offer those who want to relocate, Bell noted. While Deep Creek is a popular vacation destination, the area also has great amenities for year-round living, including grocery stores, movie theaters,
PHOTO BY SARAH DUCK