Dewey Market Watch 10/31/23 thru 11/22/23
Happy Thanksgiving!!! Tis the season to gather with family and friends to celebrate and give thanks for the wonderful year of 2023. The Dewey market continues to thrive! The recent rash of new listings resulted with five pending contracts. You’d fully expect the market to slow with the holidays upon us and the interest rates hovering around 8.5% for 2nd home buyers and investors but it’s not!! There were three single family home sales and two condo sales in the last three weeks. Presently there’s 11 single family homes and four condos on the market in Dewey and the surrounding communities. That’s huge!! It was only a little over a few months ago that there was only one single family home for sale and one condo. Nationwide, sales are down but that doesn’t apply to our niche beach resort properties. The market may slow as normal for the holiday season but I fully expect the market to remain strong in 2024. Please contact me for an update of our inventory. Owners, it’s a great time to list after the holidays. Please reach out to me for a free market analysis that will educate you with the value of your home in today’s present market. A special thank you to all of our military personnel and their family’s that each one endures with the absence of a loved one during the holiday season and throughout the year. Happy Thanksgiving to everyone!!!
| SINGLE FAMILY NEW | LOCATION | SIZE | ASKING PRICE |
| 23 Saulsbury St. #1 52 year lease @ $12,516 yr. | Mariners Surfside | 3bd/2ba 1,222 sq’ | $990,000 |
| SINGLE FAMILY PENDING | LOCATION | SIZE | ASKING PRICE |
| 20 St Louis St. | Reho. By The Sea | 4bd/2ba 75 X 100 lot 1,508 sq’ | $2,975,000 |
| 16 Bassett Ave. | Indian Beach | 4bd/4fl ba/2hlf ba 4,140 sq’ | $2,295,000 |
| 20896 Old Bay Rd. | Rehoboth Beach | 4bd/3.5ba 110 X 120 lot 2,500 sq’ | $1,800,000 |
| SINGLE FAMILY CLOSED | LOCATION | SIZE | ASKING PRICE | CLOSED PRICE |
| 38180 Terrace Ave. | Silver Lake Manor | 3bd/3.5ba 1,600 sq’ | $2,550,000 | $2,300,000 |
| SINGLE FAMILY INCREASE/DECREASE | LOCATION | SIZE | PREVIOUS PRICE | NEW PRICE |
| 15 Hazlett St. | Indian Beach | 11bd/7fl ba/2hlf ba 7,750 sq’ | $7,982,000 | $6,950,000 |
| 23 Saulsbury St. 52 year lease @ $12,716 yr. | Reho. By The Sea | 3bd/2ba 1,222 sq’ | $990,000 | $920,000 |
| CONDOS NEW | BUILDING | SIZE | ASKING PRICE |
| 1301 Coastal Hwy. #V358 | Lighthouse Cove | 2bd/2ba 1,050 sq’ | $939,900 |
| CONDOS PENDING | BUILDING | SIZE | ASKING PRICE |
| 2001 Bayard Ave. | Baystrand 3 | 4bd/3ba 2,200 sq’ | $998,500 |
| 24 Read Ave. | #C | 1bd/1ba | $499,000 |
| CONDOS CLOSED | BUILDING | SIZE | ASKING PRICE | CLOSED PRICE |
| 100 Collins Ave. | #301 Marina View | 1bd/1ba 1,090 sq’ | $599,000 | $592,000 |
| 18 Dagsworthy Ave. | #4 Ocean Sands | 3bd/2.5ba 1,600 sq’ | $1,250,000 | $1,245,000 |
| CONDOS INCREASE/DECREASE | BUILDING | SIZE | PREVIOUS PRICE | NEW PRICE |
| N/A | N/A | N/A | N/A | N/A |
| LAND | LOCATION | SIZE | ASKING PRICE |
| E Buena Rd. for sale | Dewey Beach | 50 X 100 | $1,099,000 |
| 9 Hall Ave. for sale | Chancellery | 100 X 100 | $3,950,000 |
| Rt. 1 & Old Bay Rd. for sale | Rehoboth Beach | .87 ac | $1,267,000 |
| 122 Jersey Ave. under contract | Rehoboth By The Sea | 50 X 100 58 year lease @ $? | $925,000 |
| 17 Bassett Ave. under contract | Indian Beach | 100 X 100 | $2,495,000 |
| COMMERCIAL |
