04/03/2026
SouthCoast Sloop Vol. 40.
Dartmouth Spring Market Update:
Itâs officially spring and we couldnât be happier to have the colder days behind us. This past weekend I attended a few open houses and what a difference from just a few weeks ago. When a property is priced right, thereâs a line out the door. When itâs even slightly overpriced, itâs a completely different story. What youâll see is just a handful of buyers trickling through, taking their time, and in many cases, walking away. Interest rates are still hovering in the mid to high six percent range, and while that has kept some buyers on the sidelines, serious buyers havenât gone anywhere. With everything going on in the world, buyers are cautious, as they should be. Theyâre watching pricing closely and theyâre not jumping the way they used to. Weâre no longer seeing inspections being waived or homes going hundreds of thousands over asking.
The wealth gap is widening. Real estate has always been one of the most powerful tools for building wealth, but it has also widened the gap between those who got in early and those who didnât. In the past few weeks, Iâve spoken to couples looking to buy a second vacation home close to the water and the very next day, Iâll meet someone who needs advice on selling because theyâre a few months behind on their mortgage payments. With the cost of goods and services at an all-time high, one unexpected expense turns into three. A project that was supposed to cost ten thousand turns into thirty. Before you know it, the situation starts to spiral. Early-stage delinquency numbers are ticking up, and while weâre not seeing a flood of foreclosures the way we did in 2008, there has been a noticeable increase in pre-foreclosure activity and bank-owned properties (REOs) beginning to re-enter the market.
If you follow real estate, youâve probably heard of Ryan Serhant, one of the most recognizable brokers in the country and founder of SERHANT, who has built a massive brand in the industry. In a recent interview, he described real estate as âa lottery,â pointing out that a significant portion of todayâs wealth came from people who happened to buy before prices surged and interest rates climbed. Thereâs truth to that. There are homeowners sitting on hundreds of thousands of dollars in equity simply because of timing, while others are struggling just to keep up with monthly payments in a very different market. I think weâre about to enter some interesting times in real estate and my prediction is that next year we will start to see a surplus of inventory. When I made the decision to leave the corporate world and jump into real estate, I said that I never wanted to be a âluxury-onlyâ broker or someone who only works with foreclosures. I wanted to be able to help everyone no matter what challenges await facing. Itâs about listening, understanding the situation, and coming up with creative solutions to help people move forward no matter what industry theyâre in. Right now, that matters more than ever.