Monday's Main Event - Vol. 67.0 - 02.05.2024

 

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... ... Reflecting on 2023 by quadrant and looking into 2024. January 2024   Home Closings were up in January from last year by 1%, with the average home price down 6.8%.  We can attribute this decline to a 50% increase in Condo sales in January and a 20% decrease in Townhomes sold. New listings started the year slowly with a 17% decrease from last year.  This however, was a 10% increase over December's new listing count. Interest rates are hovering in the mid-sixes, waiting for the Fed to drop rates.  Word on the street is they're coming, but when....  "Marry the House, Date the Rate" To sum it up...  Closings started the year strong and expect to continue.  The anticipated lower interest rates are helping drive additional sales, but we will need more inventory to hold a trend.    Call, Text or Email me - 215-432-3066 // jeffheckerhomes@gmail.com Upcoming  Spring Events In Rehoboth Beach Note: the Gumbo Crawl was moved to April 6th so as not to compete with Easter Weekend. 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.