February brings us Groundhog Day! Will Punxsutawney Phil see his shadow and give us more winter delaying a spring selling season? Or like in the movie Groundhog Day, will we see a repeat of last year’s real estate market? Fannie Mae expects average 30-year fixed mortgage rates to hold above 6.5% in early 2025, having an impact on the market. A bright spot is mortgage lenders are seeing an increase in requests for Preapprovals.
Three homes sold the last 3 months, priced from $620,000-$1,412,500. Days on Market ranged from 70-124 days. Most recent sale is 9934 Chelsea Lake Road which sold for $1,412,500, originally Listed at $1,749,000.
One home is Under Contract. 8210 Bay Tree Ln is a 3,586 sf home, Listed at $965,000 and set to close early March.
Seven homes are For Sale and have been on the market 10-159 days (according to NEFAR 1/27/25):
- 10060 Deercreek Club, 3,073 sf, pool home & golf course view, Listed at $759,000.
- 7819 McLaurin Rd N, 4,817 sf pool home with golf & lake view, Listed at $1,390,000.
- 10417 Cypress Lakes, sf home, Listed at $1,049,999, previously at $1,124,000
- 8250 Ashworth, 3,134 sf home, Listed at $825,000, originally at $840,000.
- 9902 Windwater Ct, 4,209 sf home, Listed at $1,100,000.
- 7881 Heather Lake Ct E, 2,316 sf Club Home, Listed at $630,000.
- 10142 Bishop Lake Rd W, 3,844 sf home, Listed at $998,000.
Recent cold weather reminds us we are not in control. There are forces of nature which dictate events around us. The real estate market is another example of outside forces playing a role. When we decide to sell, we can control the condition of our homes and the updates completed; yet interest rates, housing inventory and interested buyers will most often be outside our control and will impact the timing and price of the sale.