Real Estate News Oct 2022

Oct 1, 2022

October can be frightening with Halloween goblins and ghouls. This year may prove to be a bit frightening with the current inflation, climbing interest rates and the housing market slowing down. Until the last month, Deercreek had seen minimal effects from these issues, yet houses are starting to stay on the market longer and price reductions are becoming more common.

Five homes sold the past 3 months (according to 9/26/22 NEFAR MLS). Priced from $651,500 to $835,000, the homes sold 94-101% of the list price, (down from 100% – 103%, reported last month). The homes sold at a price per sq ft from $192.56-$252.42, (down from $206.43-$240.68). Days on the market ranged from 1 – 64 days.

10044 Watermark sold for $785,000 (originally priced at $879,000)
10416 Cypress Lakes sold for $835,000
7939 Vineyard Lake sold for $651,500
10248 Cypress Lakes sold for $730,000
10197 Vineyard Lake sold for $750,000

Four homes are For Sale in Deercreek – Ranging in size from 3259 – 4240 sq ft, they have been on the market 12-94 days, and are listed from $207.64-$244.70. Open Houses have been held most weekends to increase interest in these homes.

10234 Cypress Lakes (listed at $1,025,000, reduced from $1,069,000)
10110 Bishop Lake (originally listed at $850,000, now at $775,000)
7921 Abington Hills (originally listed at $899,900, now at $869,900)
8137 Suffield Ct (listed at $875,000)

Although the market is shifting, some keys to maintaining value in your home: excellent landscaping and curb appeal; outstanding maintenance with major items like the roof, windows and HVAC; updated interior features; and, a strong and active HOA. Additionally, in the case of neighborhoods like Deercreek, an active and financially sound country club provides benefits to all homeowners in keeping the values of their home strong. Let’s plan for more treats than tricks this October!

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