Fall 2024 Deep Creek Lake Resort Report

e k a L k e e r C p e e D e Th RESORT REPORT

Volume 17 Issue 2, Fall/Winter 2024-25 | 301.387.2000 • www.Railey.com | 866.544.3223 • www.DeepCreek.com

In This Issue...

How’s the Real Estate Market?

Railey Vacations Shows Impressive Growth in 24 Pilot Affordable Housing Project Underway Railey Realty Wins Third Championship Title at MMDBF Wisp Resort Continues Resort Improvements The Market at 42 Offers New Businesses

Railey Realty Closes Record-Breaking $6.1M Sale!

Local

Happenings and News…

Railey Realty is proud to announce that veteran agent Susan Bell represented the buyers on a record-breaking residential sale in June 2024.

The iconic property located at 574 Rock Lodge Rd offers one of the best views of the water and is one of the most recognizable homes at Deep Creek Lake.

The home sold for $6,100,000 - the highest recorded price for a single home.

Truly one-of-a-kind estate at Deep Creek Lake!

301.387.2000 • www.Railey.com

MULTIPLE LISTING SERVICE

REALTOR®

Your 1st Choice in Real Estate

Railey Vacations Shows Impressive Growth in 2024

While the COVID-19 travel surge has passed, Deep Creek Lake is still experiencing strong tourism. Railey Vacations has had a tremendous year, adding 75 new homes to their inventory of more than 550 homes, making Railey Vacations the largest rental agency at Deep Creek Lake.

They’re also now managing the newly opened Cove Creek Lodge.

On top of adding stellar homes to their inventory, Railey Vacations has seen higher occupancy than local

competitors in addition to a higher average daily rate (ADR). This is one of the main reasons homeowners have decided to switch their management from other companies to Railey Vacations.

Railey Vacations prides itself not only on their services to their guests, but also their dedication and service to the homeowners in their program. Railey Vacations handles all third-party site listings, like AirBnb and VRBO, and provides

professional photography, in-house marketing, highly trained local reservationists, and a state-of-theart property services and laundry facility. In addition, homeowers with Railey Vacations can enjoy exclusive discounts through local businesses and service provides for amenities like cable, internet, propane, and furniture. Homeowners who are interested in more information about renting their property should call Leslie Lee at 301-387-3575.

Garrett County Pilot Affordable Housing Project Moving Forward

Creating the opportunity for affordable workforce housing has been a nationwide topic amid rising home values and interest rates. Garrett County’s pilot project is ready to break ground in Grantsviile, where the county plans to oversee the building of 60 units.

The funding for the first phase of this project has been secured through a few local grant opportunities and will cover the infrastructure to be built to start the development. This will include roads, utilities, and stormwater management.

The project will likely break ground in late 2024. While the team of organizers

have been in contact with local builders, bids for the construction phase of the project have not been sent out.

The project, when finished, will feature 60 total units consisting mostly of Single Family Homes with some townhomes and some condos. There will likely be a few of these units reserved for long-term rentals. The land is owned by a trust, which will dictate how the sale of the home works, and how any future sale of that home would work. The county is still discussing the best way to fairly allocate the purchases of these homes, but it will not be an

income-based process. The primary goal is to simply provide affordable housing options in a more controlled setting that is not impacted as greatly by the housing market.

Phase 2 of this project will take place in McHenry, and phase 3 will take place in Oakland. Each phase will look slightly different as the total units and types of units may change based on that location’s needs.

Railey Realty Sold Listings

18 Holy Cross Cir Lakefront $3,790,000 - 04/24

Will ‘O the Wisp #502 Lakefront $534,000 - 05/24

535 Deep Creek Highlands

3889 Friendsville Rd Lake Area $760,000 - 08/24

460 Bench Rd Lake Access $799,000 - 07/24

20476 Garrett Hwy Lakefront $1,150,000 - 03/24

92 Big Dipper Ct Wisp Resort Area $1,225,000 - 05/24

15 Par Way Lake Area $890,000 - 06/24

16 Cedar Shores Dr #10

Split-Lakefront $675,000 - 08/24

63 Doc Thompson Rd Lakefront $1,500,000 - 07/24

282 Lakefront Links Dr Lakefront $1,790,000 - 07/24

819 Fork Run Trl Wisp Resort Area $963,000 - 09/24

864 Mountainview Dr Lake Access $1,180,000 - 07/24

184 Smith Pointe Rd Lakefront $3,135,000 - 05/24

168 Poland Vista N Ln Lake Area $700,000 - 09/24

25 Liftside Dr Ski-In/Ski-Out $485,000 - 03/24

2676 State Park Rd Split-Lakefront $1,225,000 - 08/24

525 Lake Forest Dr Lake Access $1,389,000 - 08/24

Lake Access $1,525,000 - 04/24

For a complete, updated list of all our sold listings, please visit www.railey.com/sold-properties.

The Deep Creek Lake Resort Report Railey Realty Claims Third Championship Title at Mtn MD Dragon Boat Festival

Railey Realty’s ‘Blazing Paddles’ team secured their third consecutive win at the third annual Mountain Maryland Dragon Boat Festival.

Benefitting the Garrett County Dove Center, the one-day festival offers a day filled with dragon boat races, food vendors, face painting, craft vendors, live music, and more.

Dragon boats are 20-person canoestyle boats that seat 10 paddlers on each side, with a drummer in front and a skilled steerer in the back.

Other teams that competed were First United Bank & Trust, Garrett County Outdoors Group, Southern

Middle School, Deep Creek Lions Club, Crossroads Church, Beitzel & Pillar Innovations, and the Oakland and Kitzmiller Lions Clubs. The race is handled by Dynamic Dragon Boat Racing, an east-coast based company that travels to different destinations to host races alongside nonprofits. A similar event is held in nearby Rocky Gap State Park. Railey Realty is proud to support the Dove Center and participate in this wonderful event each year! The Mountain Maryland Dragon Boat generally takes place the last Saturday in August.

Wisp Resort Continues Resort-Wide Improvements

Wisp Resort has been busy over the spring and summer months preparing for another busy winter season. Of their recent improvements, perhaps the most noteworthy is the addition or snowmaking pipe, snowmaking wire, lighting wire, and LED lights on the Down Under slope. As the only blue intermediate slope on East Ridge

and a needed connector slope to the main resort, these improvements will get this slope up and running sooner! Other new snowmaking improvements include new stick guns on Sunset Blvd beginner area and new snowmaking pipe for Grouse Way and Boulder Run. In addition, a new conveyor lift was added to the tubing park and new

ski and snowboard rental equipment was purchased. For the Lodge at Wisp, improvements were made to the indoor pool, heated sidewalks were added outside, and upgrades to doors and heating systems.

The Market at 42 Offers Variety of Shops & Vendors No matter what you’re in the mood for, there’s a shop at The Market at 42 for you. Located next to Railey Design Center, the once empty apartments now house thriving small businesses. Jessie Railey, owner of the building and Railey Design Center, alongside her business partner Michael Fratz, brought this vision to fruition after

Local Happenings and News…

NEW Brewery and The Beast in Accident is a local brewery and eatery offering the only beer brewed in Garrett County, Maryland! Their menu features items sourced from local farms and areas and is updated often to reflect changing seasons and produce. Enjoy a signature drink or a beer on tap!

NEW Polska Polish Pottery Store opened at Drydock Plaza! This new

seeing the need for affordable retail space for small businesses and artisans. With four businesses now in house, The Market on 42 is a muststop destination when visiting the area. Current tenants include Wild Ember Bread, Secondhand Citizen Clothing, Appalachian Print Co., and OMG Relax. Wild Ember Bread Picture Courtesy of GC Chamber.

store offers beautiful handmade pottery and even some polish delicacies to eat! Stop by for a oneof-a-kind handmade gift.

NEW Grab N Go Produce Shop is open in McHenry, offering fresh local produce year-round! From juicy peaches in the summer to savory squashes and zucchinis in the fall, stop by for produce whenever you’re in town.

301.387.2000

Upcoming Events....

Autumn Glory Festival - Oct 8-12 Festival of Trees - Nov 29-30 Small Town Christmas - Dec 14 Christmas in the VIllage - Dec 7 Oakland Winterfest - Feb 15 Deep Creek Dunk - Feb 22

www.Railey.com

e k a L k e e r C p e e D e h T

RESORT REPORT 2 Vacation Way, McHenry, Maryland 21541

PRSRT STD U.S. POSTAGE

PAID

PERMIT NO.

Fall/Winter 2024-25

301.387.2000 www.Railey.com • www.DeepCreekLake.com

866.544.3223 www.DeepCreek.com

Your 1st Choice in Real Estate

... The Leader in Deep Creek Lake Real Estate SCAN QR CODE

For a Free Market Valuation!

301.387.2000 2 Vacation Way McHenry, Maryland 21541 The goal of this newsletter is to keep you informed on the local real estate market, along with keeping you in touch with the issues impacting this market. We will also attempt to bring you interesting stories about the people and heritage that make Deep Creek Lake and Garrett County, Maryland such a special place.

en

Prov

Results!

Since 1995

Vacation Rentals 50 Years of Experience in Western Maryland Area’s Most Productive and Experienced Sales Force

866.544.3223

www.DeepCreek.com

It is not our intention to solicit clients from other Brokers or Property Managers with this newsletter.

If your property is currently listed for sale or managed with another company, please consult that company.

No Transaction Fees Focused ONLY on the Market that Means the Most to You!

* All data obtained from BrightMLS for the period 1/1 - 6/30/2024.

All data is believed to be accurate, but not guaranteed. Updated 7/2024.

www.Railey.com • www.DeepCreekLake.com • www.DeepCreek.com