Garrett County Real Estate – Key Market Indicators for July 2025
According to SmartCharts by Bright MLS, July 2025 showed the following:
- Closed Sales: 46 homes sold, up 9.5% year-over-year.
- Median Sold Price: $320,000, down 21.5% compared to July 2024 ($407,500).
- New Listings: 51, a decline of 13% from last year.
- Active Listings: 297, up 32.6% year-over-year, increasing buyer options.
- Pending Sales: 54, down 14.3%, reflecting softer contract activity.
- Median Days on Market: 26, a sharp improvement from 54 days a year ago.
Market Dynamics
- Inventory Balance: With 6.6 months of supply, the market is moving toward balance, giving buyers more leverage than in recent years.
- Pricing Power: Sellers averaged 92% of list price, compared to 90% last year.
What Buyers Should Know
- More Homes to Choose From: Inventory is rising, creating more options.
- Lower Prices: The significant drop in median sold price opens the door to better value opportunities.
- Act Fast on Quality Homes: Despite higher supply, well-priced homes are moving quickly (faster than last year).
What Sellers Should Know
- Strategic Pricing is Key: Buyers are price-sensitive; homes priced above market trends risk sitting longer.
- Presentation Pays Off: Strong staging, curb appeal, and professional marketing can help homes stand out.
- Faster Closings Possible: Median DOM has dropped, showing motivated buyers are ready to move.
Takeaway
July 2025 in Garrett County was a shifting market: sales activity grew while prices fell, and supply expanded. Buyers have gained more negotiating room, but sellers who price competitively and market effectively can still achieve strong results.