Dewey Market Watch 7/7/21 thru 7/30/21
Happy summer!!! The local real estate market continues to be as hot as the Arizona desert! This report is a three week analysis. There were seven pending contracts for single family homes and two condo sales. Two transactions per week was the norm before the covid hit. Listings continue to sell at break neck speed. Presently there’s one single family on leased land, five single family fee simple and five condo listings. There’s one single family home in Dodds Addition and one home in Silver Lake Manor on the market. There is no present inventory for Indian Beach and the Chancellery. That’s it! The interest rates dropped a little this week and are now at 2.750% for a 30 year fixed and jumbo loans. Many, ok most owners are totally shocked when I give them a formal market analysis. They had no idea that their home had this kind of value. Many of the sellers have owned for 30-40 years and are just cashing out at this premium time, some retiring and some moving on to other investments. Wondering what your value is? Whether you’re considering whether to sell or just wondering what your property is really worth, give me a call and I’d be more than happy to perform a “no sales pressure” market analysis. Have a happy and safe summer!!!
| SINGLE FAMILY NEW | LOCATION | SIZE | ASKING PRICE |
| 110 Clayton St | Reho. By The Sea | 5bd/3ba | $1,349,000 |
| 206 Carolina 51 year lease @ $13,168 yr | Reho. By The Sea | 3bd/2ba | $775,000 |
| SINGLE FAMILY PENDING | LOCATION | SIZE | ASKING PRICE |
| 11 Dagsworthy #3 | Scrod Acres | 3bd/2.5 | $995,000 |
| 21207 2nd St. | Ann Acres | 3bd/2ba | $700,000 |
| 21100 Elizabeth St. | Ann Acres | 3bd/3ba | $799,000 |
| 20588 Fisher St. | Dodd’s Addition | 3bd/3ba | $1,200,000 |
| 7 Hall Ave. | Chancellery | 6bd/7fl ba/2hlf ba 5,200 sq’ | $3,995,000 |
| 1 Beach Ave. | Indian Beach | 6bd/5.5ba 3,500 sq’ | $4,399,000 |
| 33 Hall Ave. | Chancellery | 5bd/5ba 4,070 sq’ | $2,650,000 |
| SINGLE FAMILY CLOSED | LOCATION | SIZE | ASKING PRICE | CLOSING PRICE |
| 120 Dagsworthy St. | Dewey Beach | 2bd/1ba 1,724 sq’ lot | $625,000 | $610,000 |
| 38142 Terrace Rd. | Silver Lake Manor | 5bd/4.5ba | $919,900 | $880,000 |
| SINGLE FAMILY INCREASE/DECREASE | LOCATION | SIZE | PREVIOUS PRICE | NEW PRICE |
| 131 ChesapeakeSt. | Reho. By The Sea | 5bd/3ba | $2,095,000 | $1,995,000 |
| CONDOS NEW | BUILDING | SIZE | ASKING PRICE |
| 21 Rodney Ave. | Rodney St condos | 2bd/1ba | $499,900 |
| CONDOS PENDING | BUILDING | SIZE | ASKING PRICE |
| 1609 Coastal Hwy. | Opal | 2bd/2ba | $439,500 |
| 116 Clayton St. | #3 Holly Tree | 4bd/2ba | $859,999 |
| CONDOS CLOSED | BUILDING | SIZE | ASKING PRICE | CLOSING PRICE |
| 123 Bellevue St. | #2 Bay Winds | 3bd/2.5ba | $750,000 | $720,000 |
| 21 Bellevue St. | Oceans Reach | 4bd/4ba 2,000 sq’ | $994,500 | $1,000,000 |
| 2 McKinley St. | #203 Sunspot | 2bd/1ba | $579,000 | $579,000 |
| CONDOS INCREASE/DECREASE | BUILDING | SIZE | PREVIOUS PRICE | NEW PRICE |
| N/A | N/A | N/A | N/A | N/A |
