Real Estate News
Real Estate News by BJ Weyer
The frenzy of spring continues in May, as does the frenzy of the real estate market. Even a slight uptick in interest rates has not slowed the market down. Nine homes have sold over the last 3 months. Ranging in price from $355,000 – $675,000, the homes sold between $146.74 and $229.64 per square foot, and were on the market an average of 46 days. 10088 Heather Lake sold for $355,000, 8137 Suffield Ct sold for $660,000, and 9919 Vineyard Lake Ln sold for $489,000.
There are currently 7 homes under contract and closing soon. These homes range in price from $549,000 – $665,000. They have been on the market 9 to 64 days. Only 3 homes are on the market currently, although I’ve heard whispers of a couple more coming on the market soon. 7701 Watermark Lane ($569,000), 8232 Bay Tree ($849,000), and 10059 Chester Lake ($585,000) have been on the market between 9 and 48 days. They are listed between $172.40 and $215.31 per square foot. One of the homes had previously been under contract, but came back on the market when the contract was cancelled. In general, homes are coming back on the market for various reasons – out of town buyers change their mind when they see the home in person vs on video; the seller and buyer cannot come to terms on the repair request; or, the home did not appraise and the buyer and seller could not find common ground between value and contract. Regarding the repair issue, sellers often try to accommodate reasonable repairs requested from buyers; however, with the current market subcontractors and suppliers are backed up for weeks or months. We all know a neighbor who has waited weeks or months for new windows or appliances, or for the concrete guy to pour the new driveway, or the painter to paint the house.
As the real estate market continues to be in a frenzy across the country, Deercreek follows the trend. The days are getting longer with daylight savings time, yet the days on market are shorter for homes for sale. The renovations to the Club, improvements to the community by the HOA, and updates by individual homeowners will continue to make Deercreek a very desirable place to live.
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