Dewey Market Watch 4/16/21 thru 5/18/21
Record sales and values continue to fuel the real estate market in the resorts area. The facts are out. The resort area realized a 26.5% increase in appreciation over the last year. The market remains brisk. There were 17 pending contracts within the last month. Most of the new listings sell within days of listing. Multiple offers are common. Many of the listings are selling for higher than asking price. Most of the sales are not appraising due to the extreme appreciation at such a fast pace. The difference in the appraised value and the contract price is being made up by buyers bring cash to the settlement to make up the difference. Presently there’s only six listings in Dewey. There’s only three listings in the Forgotten Mile, one in Dodds Addition and two in Silver Lake Manor. Inventory is critically needed. It’s a sellers market! Wondering the value of your home in today’s market or are you considering listing? Please contact me for a free no hassle market analysis. Happy summer, it’s going to be a good one!!!!
| SINGLE FAMILY NEW | LOCATION | SIZE | ASKING PRICE |
| 38312 James A St. | Dodds Addition | 4bd/4ba 2,324sq’ | $1,150,000 |
| 15 Hazlett St. | Indian Beach | 10bd/7fl ba/2hlf ba | $4,799,999 |
| SINGLE FAMILY PENDING | LOCATION | SIZE | ASKING PRICE |
| 119 Swedes St. | Rehoboth By The Sea | 5bd/3ba 2,000sq’ | $,375,000 |
| 121 Jersey St. 56 year lease @ $17,212 yr | Rehoboth By The Sea | 3bd/1.5ba 2,100sq’ | $925,000 |
| 101 Dover St. | Dewey Beach | 4bd/2.5ba 2,614sq’ | $1,275,000 |
| 38258 Robinson Dr. | Silver Lake Manor | 4bd/3.5ba 2,632sq’ | $1,499,000 |
| 38483 Cottage Lane | Silver Lake Manor | 6bd/4.5ba 3,917sq’ | $2,000,000 |
| 39 Beach Ave. | Indian Beach | 3bd/2ba 1,200sq’ | $1,374,900 |
| SINGLE FAMILY CLOSED | LOCATION | SIZE | ASKING PRICE | CLOSED PRICE |
| 131 Chesapeake St. | Rehoboth By The Sea | 5bd/3ba 2,000sq’ | $1,599,000 | $1,500,000 |
| 1 & 3 Cullen St. | Rehoboth By The Sea | 12bd/11ba 2 homes 9,957sq’ | $10,999,990 | $9,100,000 |
| 112 Read St. | Dewey Beach | 3bd/2ba 1,600sq’ | $1,349,000 | $1,200,000 |
| 20964 Ann Ave. | Ann Acres | 4bd/3ba 2,117sq’ | $1,225,000 | $1,195,000 |
| SINGLE FAMILY INCREASE/DECREASE | LOCATION | SIZE | PREVIOUS PRICE | NEW PRICE |
| 39 Beach Ave. | Indian Beach | 3bd/2ba 1,200sq’ | $1,295,000 | $1,374,900 |
| CONDOS NEW | BUILDING | SIZE | ASKING PRICE |
| 123 Bellevue St. | #3 Baywinds | 3bd/2.5ba | $750,000 |
| 116 Clayton St. | #2 Holly Tree | 4bd/2ba 1,800sq’ | $859,999 |
| CONDOS PENDING | BUILDING | SIZE | ASKING PRICE |
| 2 McKinley Ave | #203 Sunspot | 2bd/1ba | $579,000 |
| 223 Swedes St. | Tree Tops | 3bd/2,5ba 1,600sq’ | $645,000 |
| 1406 Coastal Hwy. | #2D Delano | 3bd/2ba | $645,000 |
| 217 Swedes St. | Tree Tops | 3bd/2.5ba 1,500sq’ | $599,000 |
| 123 Bellevue. St. | Bay Winds | 3bd/2.5ba | $750,000 |
| 116 Clayton St. | #2 Holly Tree | 4bd/2ba | $859,999 |
| 9 New Orleans St. | New Orleans South | 4bd/3.5ba 2,400sq’ | $1,449,000 |
| 9 New Orleans St. | New Orleans North | 4bd/3.5ba 2,400sq’ | $1,399,000 |
| 101 Rodney Ave. | #2 Bay View | 2bd/1ba 800sq’ | $449,000 |
| 9 New Orleans St. | New Orleans | 4bd/3.5ba 2 units @ 2,400sq’ each | $2,848,000 |
| 20969 Rogers Ave. | #B Ocean Walk | 5bd/3ba | $500,000 |
| CONDOS CLOSED | BUILDING | SIZE | ASKING PRICE | CLOSING PRICE |
| 8 Bellevue St. | #B Guthrie 1 | 3bd/2.5ba 1,500sq’ | $1,050,000 | $990,000 |
| 20969 Rogers Ave. | #A Ocean Walk | 4bd/2ba 1,100sq’ | $475,000 | $435,000 |
| 1301 Coastal Hwy. | 405 Lighthouse Cove | 2bd/2.5ba 1,050sq’ | $719,000 | $700,000 |
| 119 Collins Ave. | #116 Marina Views | 2bd/2ba 1,600sq’ | $799,000 | $795,000 |
| 103 Rodney Ave. | #5 Bay View | 2bd/1ba 640sq’ | $414,900 | $385,000 |
| 15 Van Dyke | #A Emerald Shoals | 4bd/3.5ba 2,000sq’ | $989,900 | $951,700 |
| 1 St. Louis St. | #204 Wilson Dunes | 3bd/2.5ba 1,884sq’ | $2,195,000 | $2,075,000 |
| 20854 Coastal Hwy. | #2 Kings Row | 1bd/1ba 375sq’ | $175,000 | $190,000 |
| 1301 Coastal Hwy. | #416 Lighthouse Cove | 2bd/2ba 1,026sq’ | $749,900 | $740,000 |
| CONDOS INCREASE/DECREASE | BUILDING | SIZE | PREVIOUS PRICE | NEW PRICE |
| 13 Saulsbury St. | unit B Mariners Surfside | 2bd/1ba | $469,000 | $449,000 |
