Monday's Main Event - Vol. 71.0 - 03.11.2024

 

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... ... Interest rates came down a little, inventories are on the rise...  February 2024 and Year to Date   New Listings so far this year are flat to last year and down about 32% from Pre-Covid, 2019.  There are signs in recent weeks of inventory building, and February was up nearly +20% from last year. Resale Listings (not including New Construction) were up in February in all quadrants, both in units and in price. Mortgage Rates dipped a little last week, but leave the Month to Date average for March relatively unchanged. "Marry the House, Date the Rate" To sum it up...  With roughly 700 active Resale listings currently on the market,  the total active inventory is running about 30% lower than it was in 2019, before the market took off during Covid.  The average List price in February was up about +5% from a year ago while the average discount on a home sold was down approximately -2% from it's original List price. The suppressed inventory levels with higher interest rates is holding back demand with Buyers, but I expect the flood gates to open when mortgage rates come down in a significant (6% range) way.  When this happens I expect demand to increase and prices will push higher again.   Call, Text or Email me 215-432-3066 // jeffheckerhomes@gmail.com 0 Keyway Court Situated on 6 acres, this idlillic parcel percs for both LPP and Gravity Fed Septic and has private access to 314 acres of wooded State land.  With no builder tie-ins, it's ready for you to build your dream home. Jeff Hecker - 215-432-3066 - jeffheckerhomes@gmail.com 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.