Speaking with Eurogamer at gamescom, the designer said he is talking to publishers about his new project, with a possible announcement coming next year.
"We're in talks with publishers at the moment, and we can't tell you about the platforms," he said.
"But by next summer, I think everyone will have a good idea of what it's going to be."
When asked if the new title is a sequel to Deadly Premonition, Swery teased in response: "Hmm, maybe!"
Swery provided further hints of a sequel by revealing that he meets monthly with the first game's producer to discuss ideas.
"In Deadly Premonition I really tried to focus on lifestyle and the relationships between the characters and experiencing those things in the game, and there just happened to be a murder mystery going on as well. But what I really wanted people to experience was those day-to-day things," he told Eurogamer.
"In the new game that's going to be important as well. Plus some extra things I wasn't able to do before, and new original elements like the coffee fortune telling."
Swery also revealed that he plans to release a director's cut of Deadly Premonition, though that is also still seeking a publisher so he was not forthcoming with details other than the hope to release it this year for the ten-year anniversary of his studio Access Games.
"We're working on the director's cut of Deadly Premonition, and I am writing some new script and scenarios," he said. "Whether those will be used or not, and how they'll be used, isn't decided yet.
"When Deadly Premonition went on sale, I got loads of feedback from the users, opinions, complaints. So I've got a list of about 200 things they want improved. I'm going through that list and choosing the things I think will be good to work on. I can't tell you in detail, but things like the controls and graphics."
Deadly Premonition garnered a cult following after its release on Xbox 360 last year, thanks to its unique narrative, oddball characters and Twin Peaks-style world.