Deep Creek Lake Resort Report | Fall 2020 | Railey Realty

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

Volume 13 Issue 2, Fall 2020 | 301.387.2000 • 301.387.2900 • www.Railey.com | 866.544.3223 • www.DeepCreek.com

In This Issue...

How’s the Real Estate Market?

A Record Breaking Summer at Deep Creek Wisp Resort Prepares for Ski Season

Sold Property Gallery Bill Weissgerber Receives 2020 Humanitarian Award Firewater Kitchen & Bar Opening Fall 2020 Local Happenings and News…

How's the Real Estate Market?

Market Fast Facts Home Sales are Up 25% Year to Date Average Prices Continue to Rise There have been 27 $1M+ Homes Sold so far in 2020 More than 50% of all Homes For Sale are Under Contract

August 2020

Garrett County Real Estate Market Stats Closed Sales

72

Active Listings

New Pending Sales

172

117

Total Dollar Volume

$177M

Avg. Days on Market

132

Don't Wait - Make Your Move!

Buyers

Sellers

There are still great deals available! Don't be intimidated by high buyer competition - your agent can help you put your best offer forward. Staying up to date with current and new listings keeps you ahead of casual home shoppers - our agents can set you up to get instant alerts.

Historically low inventory paired with high buyer demand has created a great market to sell your home! Our agents have the experience to help you accurately price your home to get the best price and the most attention. We have the tools to help your home stand out online!

It’s been an incredible summer for real estate at Deep Creek Lake and around Garrett County.

Like much of the country, our housing market saw a surge of buyer demand, which took our already low inventory to its lowest point in more than a decade. While we did see new listings rebound slightly in July and August, total inventory remains extremely low. We have seen more and more multiple offer scenarios throughout recent weeks. Competitive pricing, location, and recent updates Ratesreceiving multiple offers. More than have been the top selling points forCurrent most of Mortgage the new listings ever, working with an experienced, knowledgeable, and local agent is extremely important.

30 YR FRM 15 YR FRM 5/1 YR ARM

301.387.2000 • Main Office

2.87%

2.35%

2.96%

301.387.2900 • Mid-Lake Office Freddie Mac Mortgage Market Survey Sept. 17 2020

MULTIPLE LISTING SERVICE

REALTOR®

Your 1st Choice in Real Estate

A Record Breaking Summer at Deep Creek Lake

During an uncertain time amid a global pandemic, the Deep Creek area was fortunate to have been a haven for those looking to travel and vacation safely. Transient Vacation Rental Units (TVRU) were permitted to safely reopen with restrictions beginning in mid-May. As travel restrictions both in Maryland and neighboring states were removed or lessened, interest in trips to Deep Creek began to steadily increase.

The small-town feel of Deep Creek, coupled with the privacy of vacation rental homes, made for the perfect escape for those looking to have a

safe and fun vacation. The outdoorfocused amenities at the lake were a huge draw for visitors, too.

Railey Vacations had a tremendous summer, with a 40% increase in total number of guest stays between June 1-September 5 this year compared to 2019. One of the big reasons for such a large increase over last year is that many guests stayed mid-week instead of just on weekends. With many schools utilizing virtual learning and employers allowing for remote working, demand for trips to the lake have remained high through

September and October.

Health and safety were of top concern for Railey Vacations this summer. The company provided hand sanitizer to guests upon arrival, notified all incoming guests of current state and local restrictions in place, utilized remote check-in/ check-out procedures, and contactfree services when needed for maintenance. If you’re interested in learning more about the rental program at Railey Vacations, you can contact Leslie Miller at 301-3873575.

Wisp Resort Prepares to Open for 2020/21 Winter Ski Season Wisp Resort is preparing for their winter season! General Manager Ron Hawkes released an update in mid-September saying that the resort would plan to open, weather pending, on November 27, 2020. Even if more restrictions for crowds and social distancing are implemented by the state of Maryland or the local government, Hawkes feels certain that Wisp Resort can remain open with modifications if necessary.

Outdoor recreation was one of the first activities permitted by Maryland during the re-opening phases. Wisp Resort will most likely require face coverings for all guests at the resort and on the mountain. Season pass holders will be able to defer their season pass to the 2021/22 season if they wish. For more details on Wisp Resort’s plans and their most recent announcement, visit www.

WispResort.com.

Railey Realty Sold Listings

ERS

FF LE O

LTIP

2742 Stockslager Rd Lakefront $2,025,000 - 08/20

D

SOL

594 Hickory Ridge Lakefront $1,300,000 - 09/20

S DAY 2 IN

1414 Lake Shore Dr Lake Access $585,000 - 07/20

E

IPL

LT MU

MU

2 Arrowhead Dr Lakefront $420,750 - 08/20

LTIP

MU

186 Greenbrier Dr Wisp Resort Area $725,000 - 07/20

MU

341 Glendale Rd Lakefront $1,754,000 - 09/20

ERS

FF LE O

LTIP

MU

1419 Sandy Shores Rd Lakefront $955,000 - 06/20

96 Whispering Way Lakefront $635,000 - 09/20

LTIP

MU

215 Ruffed Grouse Lake Access $1,312,500 - 06/20

441 Lake Shore Dr Lakefront $1,525,000 - 09/20

MU

1755 Mountainview Dr Lake Access $598,900 - 06/20

LTIP

MU

1359 Rock Lodge Rd Split-Lakefront $715,000 - 06/20

D

SOL

LTIP

833 Pinnacle Dr Lake Access $495,000 - 09/20

S DAY 2 IN

176 Lake Forest Dr Lakefront $770,100 - 09/20

MU

249 Marys Lane Lake Area $570,000 - 06/20

ERS

FF LE O

LTIP

MU

364 White Oak Dr #2 Lakefront $645,000 - 08/20

ERS

FF LE O

LTIP

326 Mountaintop Rd Lake Access $1,650,000 - 08/20

ERS

FF LE O

MU

ERS

FF LE O

ERS

FF LE O

ERS

FF LE O

LTIP

ERS

FF LE O

LTIP

RS

E OFF

ERS

FF LE O

D

SOL

S DAY 2 IN

348 Yacht Club Rd Lakefront $1,599,000 - 09/20

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

www.DeepCreek.com

866.544.3223

The Deep Creek Lake Resort Report Bill Weissgerber Receives 2020 Humanitarian Award

Railey Realty is thrilled to announce that our very own Bill Weissgerber has been named the recipient of the Community Trust Foundation Humanitarian Award!

This incredible honor is given to a donor who exemplifies philanthropy, charitable giving, and dedication to bettering their community.

Founded in 2005, the Community Trust Foundation originally served the youth and communities of Garrett & Allegany Counties, eventually expanding to include Mineral County, WV, in 2007. The foundation allows for specific funds to grow and be distributed to the areas that need them most. For Garrett County, this includes Garrett Mentors and the LEGO Robotics team. The Community Trust Foundation now houses more than 50 funds and assets totaling $5M+.

Bill’s dedication to his community started during his adolescence – where he was actively involved in his school’s sports teams and various recreation leagues and organizations. He discovered his passion for coaching youth sports early, and has continued

this throughout his life, including multiple state championships with the Southern Garrett Lady Rams Basketball team.

In 2012, Bill brought his dream and ambition to reality with the first WGW Community Youth Cup. The event came to include two days of golf, a kick-off dinner, massive silent auction, color fun run, and helicopter golf ball drop. In the 8 years this event was held, more than $800,000 was raised for the youth of Garrett County.

In addition to his commitment to the youth of the community, Bill also uses his business expertise and intuition to assist with other local organizations and boards. He is currently on the Board of Directors for Clear Mountain Bank and is a member of the board for Garrett Regional Medical Center.

Professionally, Bill’s career has been nothing short of impressive.

Starting in real estate in 1984 with A&A Realty, Bill swiftly became one of the top earning agents. In 1994, Bill joined the sales team at Railey Realty, later becoming part owner in the company. In addition to being

one of the top producing agents in the entire state of Maryland, Bill’s vision for both Railey Realty and the development around the Deep Creek Lake area has created a lasting legacy.

Firewater Kitchen & Bar Open For Business Fall 2020 Deep Creek’s newest hot spot is ready to be enjoyed! Perched on the shore of Deep Creek Lake just below Will ‘O The Wisp and Ace’s Run, Firewater Kitchen & Bar offers gorgeous views of the water from inside and out. Thoughtfully designed to pay homage to the beauty of the area and focused on providing a one-of-a-kind experience for the patrons. Aside from how beautiful the building

Local Happenings and News…

Downtown Oakland is Growing!

Both Vagabond Taproom and Sipside Lounge have expanded their venues. Vagabond Taproom added outdoor seating options for dining and have created family-style to-go meals they offer each week! Sipside

and setting are, the experience only gets better with the food and drink selection. The dining menu offers an assortment of appetizers, sandwiches, small plates, and salads with unique combinations and fun flavors. Firewater Kitchen & Bar is the latest culinary venture from long-time local business owner and restauranteur Brenda McDonald. We hope you get the chance to check it out!!

Lounge has recently completed their outdoor seating area, complete with a beautiful stone fireplace - perfect for Fall! Also new to Downtown Oakland is Oakland Mercantile an adorable shop for artisan and speciality goods.

301.387.2000 • 301.387.2900

As relatively new businesses, these expansions offer exciting opportunities for the Downtown Oakland area!

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 2020

301.387.2000 • 301.387.2900 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 en

Prov

Now Serving You in Two Great Locations!

Results!

301.387.2000

301.387.2900

2 Vacation Way McHenry, Maryland 21541

19567 Garrett Highway Oakland, Maryland 21550

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.

Vacation Rentals

Since 1995

Over 45 Years 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 - 12/31/2019.

All data is believed to be accurate, but not guaranteed. Updated 1/2020.

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