Dewey Market Watch 4/11/23 thru 5/3/23

     Welcome May!!! It’s a great time to be at the beach! ALL systems go! Summer happiness is upon us! Enjoy:) There were three new listings in the last three weeks. The 1st new listing is my listing at 204 Jersey St. The value is in the oversized 6,000 sq’ lot. Based on the showing feedback the vintage home that was built in 1971 offers the possibility of renovation and additions. Showings have been brisk so please contact me immediately if you have an interest. The 2nd new listing on Dodd Ave. is another oversized 7,000 sq’ lot with a home with a separate guest suite. The 3rd new listing is a single family home on a shared lot. The home has been totally renovated and shows like a charm! The property is located directly alongside of the Lifeguard station on Dagsworthy St.

     Pending transactions have been slow, slow, slow. The lack of inventory is the direct reason. Values in Dewey and the surrounding communities continue to escalate. Presently there’s three fee simple single family homes on the market, one single family on leased land. There’s only one condo and two Surf Club (fractional share) units available for sale. There are four available lots for purchase. There’s one in Indian Beach, one in Dodds Addition and two (commercial) lots on Ocean Highway. The interest rates have dropped to 5.750 for a 30 year fixed so overall the interest rates aren’t that bad. 

     My word of advise is simple, get out and enjoy the vacant beaches, state parks and waterways before the summer crowds descend upon us. The summer weather with no crowds is totally enjoyable!!!