Dewey Market Watch 9/9/23 thru 9/28/23

     It’s only a couple days away and we’re already into October. My last two hummingbirds left yesterday with the full moon so the summer of 2023 is officially over! The summer may be over but the market’s still pretty active. Interest rates have slowed the market in many areas of the country. Lucky for us, this is not our case. We are a niche resort market. Traveling from Broadkill Beach down to the MD/DE line in Fenwick and proceeding west 3-5 miles will always be active due to their proximity to the beach. Proof is in the pudding! Take a look at the three pending condos (see below). They were listed only days after my last market update. The average was six days on the market and they had pending contracts. The interest rates are hovering at 7% for a 30 year fixed primary and about 7.5% for a 2nd home buyer or investor. 

     Our inventory has picked up a little for the autumn selling season. Presently there’s four fee simple single family homes, one leased land single family home and four condos. We actually have inventory for building lots! We have a lot for sale in Dewey, a double commercial lot in Ann Acres and two homesites in Indian Beach. Are you looking for an investment opportunity, 2nd home? Please contact me and I’ll be happy to educate you with the Dewey and surrounding market. October’s a great beach month! Get out and enjoy!!!