Real Estate News May

Real Estate News May

May 1, 2020

What a crazy month! I’m happy to see May arrive. It may not be the end of social distancing, yet I’m optimistic it will be soon. Buyers and Sellers are adjusting to the requirements of CoVid-19 and homes are still being bought and sold. Interest rates continue to fluctuate wildly. If you are considering buying or refinancing, the best option is to work with a professional mortgage lender who can monitor the rates for you and lock in at the appropriate time. I have some great professionals I work with and would be happy to refer you.

Twelve homes are for sale in Deercreek according to the 4/16/20 NEFMLS. Priced from $425,000 to $785,000 (10112 Deercreek Club Rd is back on the market again), these homes have been on the market from 10 – 398 days. 10132 Deercreek Club Rd has seen a recent price reduction to $639,999.

Nine homes sold over the last 3 months. Ranging in price from $350,000 (10048 Deercreek Club Rd) – $747,500 (7945 McLaurin Rd), the homes were on the market on average 137 days. Five homes ranging from $377,000 to $649,900 are under contract. My professional opinion is we will see this number increase as we hit the spring selling season, many of the social distancing restrictions are lifted, and employment issues are resolved.

Deercreek has been amazing during social distancing. A few examples are: supporting the Club with food takeout orders; posting information on the residents’ Facebook Page; staying 6 feet away when encountering others on the street; and, offering up books and puzzle to help pass the time. My favorites were residents participating in the Bear Hunt, and the drive-by parade for a young man who became a doctor, yet the graduation was cancelled. We all have a new norm with social distancing, yet we still do it as a community!