Monday's Main Event - Vol. 69.0 - 02.26.2024

 

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... ... February was a bumpy month... February 2024   With both the total number of homes sales and the average home price down in February compared to a year ago, it seems there is some continued pressure on Sellers.   5% more homes coming on the market this year vs. last year shows Seller's willingness to make a move is increasing. Interest rates in February are up slightly from January and holding about .5% over a year ago.  We saw a similar spread in January, and this somewhat coincides with where the Fed Rate is this year vs. a year ago. "Marry the House, Date the Rate" To sum it up...  Demand for homes is down in February and year to date and we're seeing a decrease in the average home price as a result.  Although the average discount is lower than a year ago (Initial list prices are lower), the percentage of homes discounted has increased from 2023.  That said, 40% of home are still selling at or above the original listed price.  Increased home inventory, a stronger stock market, and the Fed holding rates longer will continue to put downward pressure on prices, but we have yet to see the average price go below the 5 year average.    Call, Text or Email me 215-432-3066 // jeffheckerhomes@gmail.com Shorebreak Lodge Restaurant If you know Rehoboth, you know Shorebreak.  This gem of a restaurant, just steps from the boardwalk on Wilmington Ave, was recently purchased by locals who are no newbies to the local foodie scene.  Their outdoor patio is a delightful place for dinner or drinks and I personally can't wait! The restaurant is currently closed while it undergoes a mild transformation,  getting ready for the warmer days that are coming with promises of reopening soon.  Signs of Summer! Follow them on Facebook: https://www.facebook.com/shorebreaklodge 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.