Dewey Market Watch 9/29/23 thru 10/30/23
Happy Halloween!! No tricks here, just treats!! What a month that it’s been! The autumn inventory just soared! There are six new single family listings. Three of the homes are fee simple and three of the home are on leased land. There were also three new condo listings. We were previously down to one single family home being listed and one condo so this new inventory was surely needed. Presently in the immediate Dewey area there’s 11 fee simple single family homes for sale, four leased land single family homes and five condos. That’s incredible after such a long time that no inventory was available. The new listings are located in the communities of Rehoboth By The Sea, Indian Beach, Poynters Addition and (in town) Dewey. These new listings are in highly sought after locations and shouldn’t last long! Three of the four pending transactions below went to contract in two days, four days and forty eight days which indicates that the market is still very strong. The interest rates for a 2nd home/investor mortgage have risen and is now are in the low to mid 8% range. This really hasn’t slowed our market down from Lewes to Fenwick in the immediate beach area. It’ll be interesting to see how much activity we have during the holidays. Typically the market slows to a snails pace as people enjoy the holiday season. Upon request, the sellers disclosures and any supporting documents are available for any of these properties. Please just contact me and I’ll be happy to forward them to you. Do you have a property of interest? I always offer a Facetime appointment so that you can enjoy from the comforts of your home before traveling to view it live. Please don’t hesitate to call my cell anytime (until 9:00pm daily) with any questions… that I can assist you with. Have a happy Halloween!!!!
| SINGLE FAMILY NEW | LOCATION | SIZE | ASKING PRICE |
| 205 Carolina St. 59 year lease @ $28K yr | Rehoboth By The Sea | 3bd/2ba 1,650 sq’ | $1,295,000 |
| 20 St. Louis St. | Rehoboth By The Sea | 4bd/2ba 1,508 sq’ 75 X 100 lot | $2,975,000 |
| 20896 Old Bay Rd. | Rehoboth | 4bd/3.5ba 2,500 sq’ 110 X 120 lot | $1,800,000 |
| 112 Jersey St. 59 year lease @ $23K yr | Rehoboth By The Sea | 4bd/3.5ba 2,250 sq’ | $1,995,000 |
| 23 Saulsbury St. 52 year lease @ $12,716 | Rehoboth By The Sea | 3bd/2ba 1,222 sq’ condominiumized | $990,000 |
| 16 Bassett Ave. | Indian Beach | 4bd/3fl ba/2hlf ba 4,140 sq’ | $2,295,000 |
| SINGLE FAMILY PENDING | LOCATION | SIZE | ASKING PRICE |
| 38180 Terrace Rd. | Silver Lake Manor | 3bd/3.5ba 1,600 sq’ | $2,550,000 |
| SINGLE FAMILY CLOSED | LOCATION | SIZE | ASKING PRICE | CLOSED PRICE |
| 34 Collins Ave. | Indian Beach | 6bd/4fl ba/2hlf ba 7,150 sq’ | 4,985,000 | $4,900,000 |
| SINGLE FAMILY INCREASE/DECREASE | LOCATION | SIZE | PREVIOUS PRICE | NEW PRICE |
| 109 Saulsbury St. | Rehoboth By The Sea | 3bd/2ba | $1,499,000 | $1,299,000 |
| 18 Carolina Ave. 54 year lease@ $31,440 yr. | Rehoboth Buy The Sea | 3bd/2ba | $1,499,000 | $1,355,000 |
| 38242 Robinson Dr. | Dodds Addition | 4bd/3ba | $1,895,000 | $1,799,900 |
| CONDOS NEW | BUILDING | SIZE | ASKING PRICE |
| 25 McKinley Ave. | none | 5bd/3.5ba | $1,800,000 |
| 23 McKinley Ave. | none | 3bd/2.5ba | $1,400,000 |
| 100 Collins Ave. | #301 Marina View | 1bd/1ba | $599,000 |
| CONDOS PENDING | BUILDING | SIZE | ASKING PRICE |
| 18 Dagsworthy Ave. | #4 Ocean Sands | 3bd/2.5ba 1,600 sq’ | $1,250,000 |
| 100 Collins Ave. | #301 Marina View | 1bd/1ba | $599,000 |
| 1301 Coastal Hwy. | #359 Lighthouse Cove | 3bd/3ba 1,489 sq’ | $1,299,000 |
| CONDOS CLOSED | BUILDING | SIZE | ASKING PRICE | CLOSED PRICE |
| 11 Read Ave. | #8 Bluff | 3bd/3.5ba 2,100 sq’ | $1,395,000 | $1,350,000 |
| 1301 Coastal Hwy. | #405 Lighthouse Cove | 2bd/2ba 1,026 sq’ | $899,900 | $899,900 |
| 1609 Coastal Hwy. | #S207 Opal | 2bd/2ba | $565,000 | $565,000 |
| 10 Van Dyke St. | #B Dunes Reach | 4bd/3.5ba 1,920 sq’ | $1,595,000 | $1,651,000 |
| CONDOS INCREASE/DECREASE | BUILDING | SIZE | PREVIOUS PRICE | NEW PRICE |
| N/A | N/A | N/A | N/A | N/A |
| LAND FOR SALE | LOCATION | SIZE | ASKING PRICE |
| 9 Hall Ave. | Chancellery | 100 X 100 | $3,950,000 |
| 0 E Bueno Rd. | Dewey (in town) | 50 X 100 | $1,099,000 |
| 20968 Coastal Hwy. | Ann Acres | 100 X 100 commercial lot | $1,450,000 |
| Rt 1 & Old Bay Rd | Rehoboth | .86 ac | $1,267,000 |
