Deep Run High School Area BOOM
I've performed 3 appraisals in the Deep Run area in the last three weeks, and the market data that I gathered (sales, and current contracts) shows an increasingly exponential market increase. This is a recipe for multiple offers, offers well above the list price, and difficulty finding supporting evidence in the market to support contract prices in the market data.
The graph below represents a moving average (3 sales) 3000-6000sf homes in the area over the entire course of the MLS data. The last portion shows the market typical winter "lull."
However, when we look at the most recent three years of median market sale prices, a more accurate picture emerges of the extremely limited volume of listings and rapid price appreciation which is confirmed by the dozens of contract offers that I have seen.
If you're selling a home in the Deep Run area, be prepared to review numerous contracts, and be careful taking the highest offer - that offer should likely include cash above the market value (appraised value).
If you're buying a home in Deep Run... good luck. You're in a strong seller's market and need to be ready for a fight to purchase a home.