Real Estate News October 2021

Oct 1, 2021

October is the time for pumpkins, and to schedule projects to be completed before the holidays. Patience is required if you are planning on painting, installing flooring, new windows, and new appliances as we are seeing shortages and delays in the availability of products, and in the labor to install. The good news is one reason many of the homes in Deercreek sell quickly is because of the updates which have been completed.

Four homes are on the market in Deercreek (according to the 9/20/21 NEFAR MLS) – 7905 McLaurin ($575,000), 11215 Chester Lake ($649,000), 9937 Watermark ($664,900) and 7931 Vineyard Lake ($899,999, after a price modification from $950,000). These homes have been on the market from 3 – 33 days and range in size from 2427 – 4858 square feet. 12 homes sold and closed over the last three months. The homes ranged in price from $445,000 to $800,000 and were on the market from 3-104 days. The size of homes sold ranged from 2352 square feet to 4125 square feet, and sold for 95-108% of the list price. The most recent sales include 8260 Persimmon Hill ($595,000); 9953 Watermark ($749,000), 8209 Wallingford ($570,000); and, 8252 Bay Tree ($617,400). While Deercreek’s sales prices have remained high, we have been seeing appraisers become more conservative in their independent evaluation of value, often requiring sellers and buyers to renegotiate when an appraisal is lower than the sales contract.

2021 has flown by as life has mostly returned to normal. Homes have also been flying off the market, but not as quickly and not at ever increasing prices. The market seems to be moving to a steady flow of homes for sale, and then under contract. As we know, Deercreek is an attractive place to live for the locations, the amenities, and most of all, the residents.

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