Dewey Market Watch 7/29/23 thru 8/28/23

     Oh no!!!! Summer’s already coming to an end! Where did the time go? Hopefully everyone had an enjoyable summer filled with memories for the scrapbook:) The market remains the same, no inventory. I don’t know which is worst the lack of inventory or the interest rates for a 2nd home buyer or investor that are hovering about 8%. Buyers are still out there and many have the capability to pay in cash, borrow now and refi later… so it’s not the end of the world. 

     Presently in the town of Dewey there’s three fee simple single family homes, one single family on leased land and two condos. Outside of Dewey town limits on the west side of Ocean Hwy. there’s one single family home listed in Ann Acres. On the east side of Ocean Hwy. Silver Lake Manor just received a new listing on Terrace Rd. Indian Beach has a new listing at 22024 Coastal Hwy. This property boasts 7.82 ac of beautiful marsh land accompanied by some of the most spectacular sunsets possibly in the country! New record high asking and selling prices are now being realized. Four to five million dollar homes now grace our inventory.

     Autumn is here so the crowded beaches are a thing of the past! Locals get to get some sand under their feet and enjoy the peaceful sandy beaches, warm waters and friendly neighbor smiles. There’s lots of autumn events that will entertain us right thru the holidays. Summer rental incomes have been realized. Are you considering listing your home for the upcoming autumn season or just wondering the value in today’s market? Please contact me 302-381-5602 or joechoma@deweybeachhomesales.com.