Dewey Market Watch 2/12/22 thru 3/10/22

Happy Friday!! Happy spring!! Daylight savings time kicks in this weekend!! St. Patty’s is here and the 2022 season is officially kicking in:):)The lack of inventory continues to plague the market. Supply and demand dictate any market so with that being said appreciation is still occurring in the resort area. The interest rates continue to rise but are still at excellent rates at 4% for a fixed 30 year and 3.50% for a jumbo. They’re still incredible rates and shouldn’t slow our market. I’m preparing my 1st year to date comparison to last years activity for the same time period and I expect the number of transactions to be lower due to the lack of inventory. We have four new listings recently added to our inventory. Who would have ever thought that leased land properties would breach $1M in such a short period of time? 121 Cullen & 102 Jersey are two gorgeously renovated cottages that are asking $1.3M & $1.350,000. There is a 50 X 100 leased land lot that has a pending contract in two days with an asking price of $1M. The 3rd new listing is my listing at 18 West St. unit B in the Guthrie. This est. 900 sq’ unit has been remodeled with new Trane HVAC, windows, flooring, ss appliances and the list goes on and on. Click on the address below for full information. Won’t last long. The final new listing is an oceanfront unit in the Beachcomber on Swedes St. There are no oceanfront units available just about everywhere in the resorts so this unit will sell super fast. 

Spring has sprung! Get outside and enjoy the many activities that our resorts have to offer!!!