Monday, February 19, 2007

Real Estate Year in Review 2006

During the 2006, 500 residential units were sold in Garrett County, compared to 563 units in 2005. Those 500 units amounted to a total sold dollar volume of $201,362,925, down slightly from $213,206,898 in 2005.

However, the average sold price in the county was $402,726, compared with $378,698 in 2005. Additionally the average days on the market (DOM) was slightly shorter, 152 days, compared with 160 in 2005. 30 transactions involved homes with closing prices of $1 million or greater, including 1 transaction greater than $2 million.

See the below spreadsheet examining the past 10 years of the market in Garrett County (note: to view the entire spreadsheet click on it and page down)

Source: Metropolitan Regional Information Systems, Inc. (MRIS).

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