Real Estate News

By B. J. Weyer, Watson Realty Corp. REALTORS®

February is a great time to celebrate – Groundhog Day, Valentine’s Day and President’s Day. It is also a good time to look back and celebrate the real estate activity in Deercreek. In 2015, 28 homes sold with prices ranging from $315,000 to $875,000 with the average of $480,675, up from the average of $424,460 in 2014. Square foot prices also increased from an average of $133.21 to $136.59.

Only 7 homes are listed for sale on the NEFAR MLS, priced from $470,000 - $572,000. List Price per Sq Ft varies from $135.02 to $163.76, with the average at $150.34. These homes range in size from 2870 to 3818 sq ft and on the market an average of 125 days. Three homes are under contract waiting to close.

According to the NEFAR MLS, 5 homes sold during the 3 month period ending 1/8/2016 ranging from $425,000 - $655,000. The sold price per sq ft ranged from $125.01 to $154.08 and on the market an average of 78 days. On average, homes sold for 97% of list price.

2016 started off with excitement as the stock market fluctuated wildly with the events in China. The fear of stocks continuing to drop can drive an investor out of the stock market. On the other hand, there are opportunities to buy stocks that may increase in value. This is what we saw in the real estate market over the past few years. Many buyers who purchased homes several years ago were able to buy at reduced prices. Currently, as the inventory of homes on the market is getting smaller, prices have been going up. Will it continue? Who knows? For now, let’s celebrate as we keep an eye on the real estate market and see if Puxatony Phil sees his shadow.