Dewey Market Watch 3/11/22 thru 4/11/22
Happy springtime!! It’s 75 glorious degrees at this typing:):) Spring has sprung!! Dewey and the entire resort area is open and in full gear! The market continues to sizzle. In most cases agents are giving an actual date for contracts to be entertained thus allowing enough time for the general public to view the property before it’s gone by the 1st weekend from listing. Presently there’s five condos listed in Dewey. There’s 3 single family homes available in Dewey, one in Silver Lake Manor and one in Ann Acres. Also included in the inventory are four quarterly fractional share units in the Surf Club. The interest rates have been going up and down and are presently at 5% for a 30 year fixed and 4.250% for a jumbo. The rumors are that they’re going to continue to go up but we’ll have to wait and see. The 5% is actually still a very good rate:) Are you considering listing your home? I’d be more than happy to provide you a free market analysis based off of recent closing prices. Thinking of buying a home in this hostile market? Buyers must be educated and prepared to write a contract within a day or two of the listing or you’ll probably loses out. Please contact me for an education of your areas of desire. Happy spring! I think I’m shedding my shoes and going for a beach walk:):)
| SINGLE FAMILY NEW | LOCATION | SIZE | ASKING PRICE |
| 13 New Orleans St. | unit A Green By Way | 2bd/1.5ba 1,200 sq’ | $1,200,000 |
| SINGLE FAMILY PENDING | LOCATION | SIZE | ASKING PRICE |
| 102 Jersey St. 54 year lease @ $22,372 yr | Rehoboth By The Sea | 4bd/2ba | $1,350,000 |
| 38292 Blackstone Ave. | Silver Lake Manor | 5bd/3.5ba 2,421 sq’ | $1,899,900 |
| SINGLE FAMILY CLOSED | LOCATION | SIZE | ASKING PRICE | CLOSED PRICE |
| 18 Hazlett St. | Indian Beach | 5bd/5ba 3,320 sq’ | $2,599,900 | $2,599,900 |
| 38312 James A St. | Dodds Addition | 4bd/4ba 2,324 sq’ | $1,150,000 | $1,119,000 |
| 1502 Coastal Hwy. | Dewey | 3bd/1ba | $930,000 | $850,000 |
| SINGLE FAMILY INCREASE/DECREASE | LOCATION | SIZE | PREVIOUS PRICE | NEW PRICE |
| 38189 Terrace Rd. | Silver Lake Manor | 2bd/2ba 1,152 sq’ | $1,384,900 | $1,379,000 |
| 121 Cullen St. 54 year lease @ $18,50 yr | Rehoboth By The Sea | 3bd/1.5ba 1,450 sq’ | $1,300,000 | $1,295,000 |
| CONDOS NEW | BUILDING | SIZE | ASKING PRICE |
| 23 Rodney Ave. | Rodney Street Condos | 2bd/1ba | $575,000 |
| 2 McKinley Ave | #100 Sunspot | 2bd/1ba 890 sq’ | $559,900 |
| 3 Collins St | #B Sea Mist | 4bd/2.5ba 1,875 sq’ | $2,100,000 |
| 105 Dagsworthy St. | Rainbow Cove | 3bd/2ba 944 sq’ | $649,900 |
| 101 Anchor Way | #204 Villas By The Bay | 3bd/2.5ba | $735,000 |
| CONDOS PENDING | BUILDING | SIZE | ASKING PRICE |
| 18 West St. | #B Guthrie IV | 2bd/1ba 950 sq’ | $695,000 |
| 23 Rodney Ave. | #5 Rodnet Street Condos | 2bd/1ba | $575,000 |
| 105 Bayside Ct. | #8 Bayside Ct. | 3bd/3ba | $799,900 |
| 38520 Pine Lane | #1 Silver Lake Shores | 3bd/3.5ba 3,411 sq’ | $2,600,000 |
| 26 McKinley Ave. | #9 Seabreeze Village | 4bd/3.5ba | $965,000 |
| CONDOS CLOSED | BUILDING | SIZE | ASKING PRICE | CLOSED PRICE |
| 102 Van Dyke St. | #401 The Cove | 4bd/3ba | $900,000 | $900,000 |
| 1301 Coastal Hwy. | #354 Lighthouse Cove | 2bd/2ba 1,050 sq’ | $849,999 | $840,000 |
| 1 Read Ave. quarterly fractional share | #309 Surf Club | 0bd/1ba | $84,900 | $80,000 |
| CONDOS INCREASE/DECREASE | BUILDING | SIZE | PREVIOUS PRICE | NEW PRICE |
| N/A | N/A | N/A | N/A | N/A |
| LAND | LOCATION | SIZE | ASKING PRICE |
| 20937 Ann Ave. | Ann Acres | 50 X 100 commercial/single family | $1,049,000 |
| 20968 Ann Ave. | Ann Acres | 100 X 100 | $1,395,000 |
| Rt 1 & Old Bay Rd. | Poynters Addition | .86 ac commercial | $1,250,000 |
| COMMERCIAL |
