Real Estate News

November is here and that means Veterans Day & Thanksgiving are soon to come. It also means quick decisions need to be made for sellers and buyers who want to close before the end of the year. Additionally, interest rates are rising as the Federal Reserve increased their rates in September. Higher interest rates means the average buyer has less buying power and cannot afford as much home.

13 homes are for sale in Deercreek. The homes range in size from 1894 to 4545 sf and have been on the market for an average of 77 days. 9941 Margate Hills is the least expensive on the market at $339,900, and 10083 Vineyard Lake is the most expensive on the market at $750,000. There is a wide variety of homes available in Deercreek. Another home is coming on the market soon as a For Sale By Owner, which is always a difficult process in a gated community.

11 homes have sold over the last 3 months, according to 10/01/18 NEFMLS. The homes ranged in price from $320,000 to $712,500. The average price per sf was $152.96, up from $145.54; yet, price per sf ranged from $104.37 to $188.24. The homes were on the market from 17 to 385 days, with an average of 107 days. Homes sold, on average, for 96% of the List Price. Two homes are currently under contract and should close soon: 9911 Chelsea Lake (listed at $399,900) and 7828 Rittenhouse (listed at $625,000).

November is a time to be thankful! Thank a Veteran for his service! Enjoy Thanksgiving with family and friends! Be thankful that although interest rates are rising, they are still historically lower than the 15 – 18% seen in the 1980’s. Most of all, be thankful that we can live in an incredible community like Deercreek!