Real Estate News

Oct 1, 2020

The weather is attempting to cool off just a bit. It is October, after all. After the blistering heat of the summer, we can all enjoy a little cool relief. The real estate market in Deercreek has also been blistering hot. Will it cool off as we head into the fall?

As of 9/18/2020, there are 6 homes on the market. This number is way below normal as there are usually 12 – 15 homes on the market at any time. The homes on the market are priced between $389,900 (10088 Heather Lake Ct) and $649,900 (8219 Chester Lake Rd N). Back on the Market is 8203 Ashworth Ct as the buyer had a change of heart. Five homes are under contract and waiting to close, from 9950 Blakeford Mill (listed at $485,000), to 10282 Cypress Lakes Dr (listed at $659,900).

Over the last 3 months, a total of 18 homes were sold. Ranging in price from $320,000 (7815 Heather Lake Ct ) to 10289 Cypress Lakes ($700,000), they also varied in size from 1908 square feet to 4400 square feet. The average price per square foot was $160.44, yet ranged from $118.71 to $185.44 per square foot. The average price of homes sold in Deercreek was just over $500,000, and on the market an average of 79 days.

I often talk to people about homes in Deercreek, potential buyers and sellers. Is it a good time to buy or sell? Are the prices going to continue to increase? How do you think the election will affect the market? Will interest rates continue to be this low? My answer, based on my professional opinion, is it is always a good time to buy or sell if you want the change in your lifestyle. No one knows if the prices will continue to increase, although with many people moving to Florida, there is a good chance the number of homes available will be reduced, which increases prices. The election will affect the market, no doubt. Interest rates may continue to be this low for a period of time, yet history shows us they will increase. While the real estate market remains hot in Deercreek, come join me and we will enjoy the cooler weather with an evening walk or drive in the golf cart!

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