Our Region’s Real Estate Market
By Sandi Reed Burns, Climb Properties Realtor
Over the past year, across the country, the real estate market has been booming, with the market favoring sellers rather than buyers. Our communities of Thurmont and Emmitsburg have also experienced this trend. Homes that went on the market sold quickly, and our builders have not been able to keep up with the demand for new home construction. The pandemic has people looking for less densely populated and more affordable places to live. Our communities offer both, along with the scenic Catoctin mountains and national state parks.
With all our area has to offer, it is no wonder that generation after generation has chosen to stay here. I have been able to proudly call this area home since 2008, and there is nowhere else I’d rather live. I have pulled the data from residential sales for our area as of October 19, 2021, so you can get an idea of just how popular our area has become.
Thurmont (data source: Bright MLS)
Coming Soon & Active Listings—17 homes (3 are new builds, not all completed yet); price range: $140,000 to $565,000.
Active Under Contract—6 homes
Pending (going to close)—21 homes
Closed in the Last 30 Days—20 homes; price range: $150,000 to $950,000
DOM (days on market): Averaged 14.45 days.
Emmitsburg (data source: Bright MLS)
Coming Soon & Active Listings—10 homes (6 are new builds, not all completed yet); price range: $209,900 to $935,000.
Active Under Contract—1 home
Pending (going to close)—11 homes
Closed in the Last 30 Days—5 homes; price range: $215,500 to $605,000
DOM (days on market): 1 to 9 days.
If you are looking to buy in this market, my advice to you is to make sure you have a pre-approval letter that is based on actual documentation you provided to your lender, rather than a verbal pre-approval. Sellers want to know that your financing is solid before they agree to your offer. I also advise not to buy emotionally. You need to look beyond the seller’s pretty furniture, countertops, and appliances, looking instead under the cabinets for leaks, checking the age of the HVAC and roof, and inspecting the grounds for water runoff patterns.
If you are selling in this market, I advise you to keep your holiday decorations to a minimum. This allows the buyers to see their own decorations in the space and not feel as if they are just visiting your home. The seller’s market that we have been experiencing is now starting to show signs of slowing. If you are thinking of selling your home, now is the time to list. Until next time, enjoy this fall weather and our beautiful communities!