Monday's Main Event - Vol. 55.0 - 11.06.2023

 

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... ...  Higher, Longer doesn't necessarily mean "not right now" ... October 2023   October ended with most of Sussex county having positive growth in both number of homes sold and the average home price closed on, with the exception of East of Rt. 1 where the average home price is still holding over $1 million. Interest rates were lower just slightly last week vs the week before, but are still higher than the average in October.  More and more we're hearing about buyers opting for less traditional methods of financing, including Adjustable Rate Mortgages (ARM's).  With the FED's "higher, longer" stance, this might be a good approach to the next few years, anticipating rates coming down in the long-run. "Marry the House, Date the Rate" To sum it up...  Home sales in Sussex County were still strong in October, with the higher priced quadrant East of Rt. 1 feeling the most resistance.   Although mortgage rates are higher, buyers with long-term ownership plans are finding less traditional methods of financing, along with cash, as better options. Click Here to start your home search, today! Help me, help you. Complete the Survey Native American Heritage Month is a time to honor the rich and diverse cultures, traditions, and histories of Native Americans and their contributions to the United States that we know today. 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.