Real Estate News

Real Estate News

Dec 1, 2020

December 2020 will be remembered for many things – the holidays, an end to this challenging year of Covid-19, and a year in which the real estate market in Deercreek was on fire. Through November 19th, 43 homes sold in Deercreek. These homes ranged in price from $320,000 (7815 Heather Lake Ct) to $979,900 (9944 Deercreek Club Rd), and were on the market on average for 87 days. Within the last 3 months, 12 homes have sold. The most expensive home sold was 10276 Cypress Lakes at $780,000.

There are 7 homes currently on the market in Deercreek. They range in price from $375,000 (10088 Heather Lake Ct) to $869,000 (9938 Deercreek Club Rd). The 7 homes have been on the market from 21 to 96 days. There are also 4 homes Under Contract moving towards closing. With limited inventory on the market, homes have been going under contract quickly and often above the list price. While this increased pricing is great for the seller (and the community real estate prices), a word of caution – appraisals of these properties may not always support the contract price. When prices are rising so quickly, appraisers may use comparables which are less than six months old, yet do not reflect the rapidly rising prices. The appraiser’s sole responsibility is to protect the mortgage company. If an appraisal comes in low, there are several options available to sellers and buyers.

Enjoy the holidays! Stay safe and healthy! There’s lots of excitement surrounding the recent purchase of the Club and now is a great time to get involved. Let’s see what good things 2021 will bring to Deercreek!