Monday's Main Event - Vol. 43.0 - 08.14.2023

 

Monday's Main Event Get a jump on your week with the latest in local Real Estate Market trends, Mortgage Rates, and Local Happenings The Main Story... ...  New construction is a very important element in the Real Estate Mix, here in Sussex County. July Year to Date 2023 - Final New Construction Closings year to date continue to out pace last year for the same time period, in both units and price, with the exception of the East of Rt 1 Quadrant. Resale homes are down East of Rt. 113 to the coast, while prices are still above last year. West of Rt 113 more resale homes have been closed on this year with little to no change from last years average prices. Rates continue to climb and there are still talks of the Fed cooling (or even stopping) their increases and 30 year fixed rates coming down, but there’s no time frame outlined or expectations set so far. "Marry the House, Date the Rate", as they say. To sum it up...    There is still plenty of Resale Inventory across the county, and sales of resale homes are still the predominate home type that is selling, but home prices have slowed purchases the closer to the coast that you get. Mortgage rates aren’t helping things either; which will ultimately put more downward pressure on prices to get better equilibrium with the supply. Click Here to start your home search, today! Beauty at the Beach… Mill Pond Garden will open to visitors from 10 a.m. to 12:30 p.m., Sunday, Aug. 20, to share the peak of summer pollinators, hummingbirds, butterflies and the abundant flowers that support them.   The botanical garden displays feature pollinator favorites hibiscus, phlox, crape myrtles, salvias, waterlilies, sunflowers, zinnias and more. The garden hosts many species of birds and wildlife including 3-year-old Allie the wild snapping turtle, and many butterfly koi and shibunkin fish, with views onto beautiful Red Mill Pond with turtle-basking logs and many water birds. Tickets, available at millpondgarden.com, are $15 to admit a vehicle with up to six visitors, or cash only at the gate. Content Courtesy of The Cape Gazette: https://www.capegazette.com/article/mill-pond-garden-host-visitors-aug-20/262656 Did you find this information helpful?  Let me know by simply replying "thanks" in the comments, below. Interested in information about a specific town or community?  Let me know in the comments, below.   I'm here to help decode the mystery of the Sussex County Delaware Real Estate market. *all information in this email is relative to Sussex County Delaware and is not to be construed as the case for Kent or New Castle Counties.