Real Estate News
As a realtor, I try to stay on top of housing trends. DaveRamsey.com had an article about 2019 Real Estate Trends. According to the article, “Home Prices are Rising Slowly… With Less Offers”. There will still be price increases, yet at a much lower level. Another trend highlighted was “Mortgage Interest Rates are on the rise”. They are projected to increase to an average of 5% for a 30-year mortgage. The most interesting trend outlined in the article was that the “Majority of Home Buyers are Millenials”. To have success with millennials, you must know your buyer. They shop online first, so first impressions are important. They are looking for quality over size. Location is important to them. Millenials want a low-maintenance lifestyle with energy-efficient homes & smart appliances. If you don’t have them, they’ll look elsewhere or will lower their offer so they can upgrade after they buy.
Deercreek continues to have good market activity with 7 homes sold & closed during the last 3 months ranging from $355,000 (Heather Lake Ct) to $620,000 (8028 Weatherby Ct). The homes were on the market an average of 84 days, yet the days on market ranged from 1 – 136 days. The sales price per sf averaged $159.38. There are 13 homes currently for sale, according to the 5/2/19 NEFMLS. Homes for sale range in price from $400,000 to $799,000. The 13 homes have been on the market an average of 63 days. There are 7 homes under contract and range in price from $399,000 to $530,000. They range in size from 2232 sq ft to 3221 sq ft and have been on the market from 35 to 138 days.
We would love to keep you as friends and neighbors; however, if you are looking to make a change and move out of Deercreek, keep the 2019 trends in mind as you make your preparations!
Posted on Tue, May 21, 2019
by Catrine Fredrikson