Dewey Market Watch 11/23/23 thru 1/30/24
Happy 2024!!! I’m a little behind schedule due to admitting my mom into a nursing home. I’m ready for spring and all of the exciting activities that spring ushers in. The 2023 season ended with a flurry of activity. The 2024 season is no different. All four of the pending single family homes on leased land sold in the 2nd week of January. Presently there’s only two fee simple single family homes on the market, one in Indian Beach, three on RBTS leased lands, three fee simple condos and one leased land condo. I just listed the leased land condo in Seastrand unit #22. It’s a very rare offering and is in very high demand. Seastrand is located in the ocean block of Chesapeake St adjacent to Billionaire row and Silver Lake. This condo will be gone within a few days from receiving this email. Please call me immediately if you have an interest. The total inventory is five single family homes and four condos. The demand is year round now unlike earlier years when the spring selling season started in March and lasted through October. The 2024 selling season should be a good one as long as we get inventory. Rumors have it that we are going to see three to four rate drops throughout the year thus creating a very favorable atmosphere! Please contact me for a private market analysis. The days are getting longer and spring is just around the corner:):)
| SINGLE FAMILY NEW | LOCATION | SIZE | ASKING PRICE |
| 101 Dover Rd. | Dewey Beach | 4bd/2.5ba 2,614 sq’ | $2,699,999 |
| SINGLE FAMILY PENDING | LOCATION | SIZE | ASKING PRICE |
| 205 Carolina St. 59 year lease @ $28K yr. | Reho. By The Sea | 3bd/2ba 1,650 sq’ | $1,295,000 |
| 203 Jersey St. 60 year lease @ $18,112. yr. | Reho. By The Sea | 3bd/2ba | $969,000 |
| 109 Saulsbury St. | Reho. By The Sea | 3bd/2ba | $1,199,000 |
| 23 Saulsbury St. 52 year lease @ $12,716 yr. | Reho. By The Sea | 3bd/2ba 1,222 sq’ | $920,000 |
| SINGLE FAMILY CLOSED | LOCATION | SIZE | ASKING PRICE | CLOSED PRICE |
| 16 Bassett Ave. | Indian Beach | 4bd/4fl ba/2hlf ba 4,140 sq’ | $2,295,000 | $2,220,000 |
| 20896 Old Bay Rd | Rehoboth Beach | 4bd/3.5ba 2,500 sq’ | $1,800,000 | $1,500,000 |
| 20 St. Louis St. | Reho. By The Sea | 4bd/2ba 1,508 sq’ 75 X 100 lot | $2,975,000 | $2,650,000 |
| SINGLE FAMILY INCREASE/DECREASE | LOCATION | SIZE | PREVIOUS PRICE | NEW PRICE |
| 112 Jersey St. 59 year lease @ $23K yr. | Reho. By The Sea | 4bd/3.5ba 2,275 sq’ | $1,995,000 | $1,975,000 |
| CONDO NEW | BUILDING | SIZE | ASKING PRICE |
| 3 Seastrand Ct. 54 year lease @ $5,447. qtr. | Seastrand | 4bd/3.5ba 2,200 sq’ | $1,500,000 |
| 26 McKinley St. | Seabreeze Village | 4bd/3.5ba 1,300 sq’ | $1,255,000 |
| CONDOS PENDING | BUILDING | SIZE | ASKING PRICE |
| N/A | N/A | N/A | N/A |
| CONDOS CLOSED | BUILDING | SIZE | ASKING PRICE | CLOSED PRICE |
| 2001 Bayard Ave. | #15 Baystrand 3 | 4bd/3ba 2,200 sq’ | $998,500 | $970,000 |
| 1301 Coastal Hwy | # V358 Lighthouse Cove | 2bd/2ba | $939,900 | $940,000 |
| 1301 Coastal Hwy | # 359 Lighthouse Cove | 3bd/3ba | $1,299,900 | $1,300,000 |
| 24 Read Ave. | #C | 1bd/1ba | $499,000 | $415,000 |
| CONDOS INCREASE/DECREASE | BUILDING | SIZE | PREVIOUS PRICE | NEW PRICE |
| N/A | N/A | N/A | N/A | N/A |
| LAND ALL ACTIVE FOR SALE | LOCATION | SIZE | ASKING PRICE |
| 0 E Bueno Rd. | Dewey Beach | 50 X 100 | $1,099,000 |
| 20968 Coastal Hwy | Ann Acres | 100 X 100 | $1,450,000 |
| 9 Hall Ave. | Indian Beach | 100 X 100 | $3,950,000 |
| Route 1 & Old Bay Rd. | Rehoboth Beach | .86 ac. | $1,267,000 |
