Dewey Market Watch 6/29 thru 7/28

Happy sweltering summer! I know! Everybody hates this heat but I’m one of the goofballs that actually loves it!. Averaging 97 degrees all week! I love it. The state fair is in full swing and with it comes severe heat and thunderstorms for the last week in July. Get to the beach and cool off in the ocean:):) There’s not a whole bunch of real estate news to report this month. I had to wait a month for something to report on and this is it in it’s entirety. My listing at 105 Carolina went to contract almost immediately upon listing. My listing at 204 Jersey just closed @ $1.5M. 122 Jersey St. was a RBTS leased land lot only with an asking price of $925K. The 50 X 100 lot went pending in only six days. 18 Dagsworthy reduced their price from $1,625,000 to $1,450,000. Unit 211C in the Surf Club has a contract on it. Presently there’s four fee simple single family homes on the market and one leased land property. There’s two condos available and that’s it for in town Dewey. There’s one single family home in Ann Acres and one in Indian Beach. That’s it for the total inventory! The interest rates just took a hike! The rate for a 30 year primary is approximately 7% now. That means 7.5% for 2nd home buyers and investors. The very low inventory and the higher interest rates have me going to the beach this afternoon to enjoy what I moved here for nearly 40 years ago, the beach and the coooool ocean! Enjoy and have a safe summer:):)