The actual measurements are very close to 

2 feet 10 inches 

X 

21 feet 11.5 inches (with fringe)

There is a small 1/4 inch long area on the binding that could use repairing looking at the backside, so that it does not grow (hard to see in the last image of the rug's backside).    I would also professionally clean it, but it looks great for its age, just some matting, not thinning (see images).  

This was purchased from an Estate Sale and I know no history of the household, except there were other Karastans, but this was the oldest.