Monday's Main Event - Vol. 54.0 - 10.30.2023

 

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... ...  Will more inventory mean an increase in transactions as we close out the year?? October 2023   Home Closings in for the month ended down from last year.  This is below the year to date trend which indicates improvement as we anniversary higher interest rates. New listings for the month are up over last year for the first time all year, showing Sellers have confidence in the current market and the maintained higher prices. The Average Days on Market for both homes closed on in October and all active listings at the end of the month are both up about 20% from last year.  Homes are tending to sit a little longer, but compared to 2019, they are still selling twice as fast. Interest rates crept up again last week and there's indication that they will again before the year is over.  The increases we are seeing are taking a toll on prices with close to 60% of the homes closed on in October being discounted from their original list price. "Marry the House, Date the Rate" To sum it up...  With more inventory on the market, Sellers will need to be more aware of accurate pricing than ever.  The market is quickly shifting into a Buyers Market as inventory and the Average Days on Market increase. Click Here to start your home search, today! Help me, help you. Complete the Survey Forward this to a Friend Real Estate Portfolio Analysis Stay up to date on your home valuations and real estate assets with a real estate portfolio review. New Newsletter Content Want something that you don’t see in this newsletter? Hit reply and let me know! Local Business Recommendations Reach out to me for any home improvement project contractors, or even food & activity recommendations. Market Stats for Specific Towns or Communities I’m here to help decode the mystery of the Sussex County Real Estate market. Let me know which communities you are interested in for more information.

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.