Dewey Market Watch 12/5/19 to 1/13/20
Happy 2020!!! I hope everyone had an enjoyable holiday season:) 2019 is in the books and 2020 is waiting to see what unfolds and with a little luck it’ll be a very prosperous new year. The overall market in the entire resorts as expected has slowed due to the holidays. The interest rates are great which should bring immediate activity now that the holidays are over. Expect an early spring selling season. Weather in the surrounding states has been relatively mild which in turn brings people to the beach. The traditional Valentines Day weekend typically kicks off the new spring season but the mild weather could get us started a little earlier this year. Need a work break? There’s lots to do in town so pack up your bags and stop in for a winter weekend getaway!!!
|SINGLE FAMILY NEW||LOCATION||SIZE||ASKING PRICE|
|106 West St||Rehoboth By The Sea||3bd/2ba||$1,099,000|
|106 West St||Rehoboth By The Sea||5bd/3fl ba/2hlf ba||$1,649,900|
106 West St. is a unique property that’s listed two different ways. The present home that sits on the property is a 1955, 3bd/2ba windjammer model. The windjammer model is very popular and people just love them. The asking price for the property with the present home is $1,099,000. The 2nd offering is a 5bd/3fl ba/2hlf ba , 3118 sq’ open floor plan, covered porch, open porch and the list goes on and on (see pics). The asking price for the newly constructed home is $1,649,000.
|SINGLE FAMILY PENDING||LOCATION||SIZE||ASKING PRICE|
|23 Saulsbury St.||Rehoboth By The Sea||3bd/2ba||$659,900|
|20996 Dodd Ave||Ann Acres||3bd/2ba||$499,000|
23 Saulsbury is a nicely renovated 1964, 3bd/2ba, 1,222 sq’ home. The property is a Reho. By The Sea Leased land property. The home shares the lot with another grandfathered home so the lease is split by two. The annual lease amount is $10,818 and has 56 years remaining on the lease. This was a very nice purchase for the new owner!
|SINGLE FAMILY CLOSED||LOCATION||SIZE||ASKING PRICE||CLOSED PRICE|
|135 Chesapeake 29 yr lease @ $4,186. yr||Rehoboth By The Sea||6bd/3ba||$795,000||$735,000|
|38217 Robinson Dr.||Silver Lake Manor||5bd/4ba||$1,249,000||$1,137,500|
135 Chesapeake was a very nice 6bd/3ba, 2,552 sq’. The home was nicely updated and had lake views to die for. The 2nd beach block home was a Reho. By Th Sea leased land property. The older lease had 29 years remaining with an annual lease amount of $4,186. with minimal annual increases vs the newer leases that have a 3.5% annual increase. The property was on the market just shy of a year. I expected it to sell immediately. The new owner got a steal on this one!
|SINGLE FAMILY INCREASE/DECREASE||LOCATION||SIZE||PREVIOUS PRICE||NEW PRICE|
|13 Dagsworthy St.||Scrod Acres||3bd/2ba||$850,000||$800,000|
|CONDOS NEW||BUILDING||SIZE||ASKING PRICE|
|1406 Coastal Highway||# 3i Delano||3bd/2ba||$499,900|
|1301 Coastal Highway||#C413 Lighthouse Cove||2bd/2ba||$624,900|
|3 Seastrand Ct. 37 yr lease @ $9,888. yr||#29 Seastrand||4bd/3.5ba||$899,000|
I have a new ocean block condo in the Delano that I just listed. The 3bd/2ba, 1,100 sq’, features ceramic tile floors, stainless appliances, granite counters, 6 closets, stacked washer/dryer, secured storage…. The fully furnished unit (see pictures), tastefully decorated unit is rent ready or affordable enough for personal use! Call me for you personal showing:) Unit C413 Lighthouse Cove is a 2bd/2ba unit and was built in 2014. The unit is fully upgraded as all of the Lighthouse Cove units show extremely well! A rare offering in the Seastrand. Located on Chesapeake which is one of Dewey’s most popular and most sought after street This 2002, 4bd/3.5ba, three story, ocean & lake views is being offered for $899K. The unit is a leased land Reho. By The Sea property and has 37 years remaining on the lease at $9,888. per year.
|CONDOS PENDING||BUILDING||SIZE||ASKING PRICE|
|1905 Coastal Highway||#6 Ocean Winds Village||3bd/2.5ba||$499,000|
The unit at #6 Ocean Winds Village was a 1987 2 story, 3bd/2.5ba, 1,300sq’ unit. The two story unit is located over the commercial strip mall on the 1st floor on Ocean Highway & New Orleans.
|CONDOS CLOSED||BUILDING||SIZE||ASKING PRICE||CLOSING PRICE|
|1301 Coastal Highway||#262 Lighthouse Cove||3bd/3ba||$1,049,900||$1,034,900|
|100 Van Dyke St.||# 201 Cove||2bd/1ba||$339,000||$315,000|
|38398 George St||#5 Beach Place||3bd/2.5ba||$495,000||$495,000|
1301 Coastal Hwy unit #262 is a 3bd/3ba brand spankin new Lighthouse Cove unit. this 1,523sq’ unit is one of the few of the last remaining units. Do you have an interest in the Lighthouse Cove? Better hurry as inventory dwindles down. #201 Cove on Van Dyke St was a entry level priced 2bd/1ba, 600sq’, ceramic tile throughout, granite… The Cove’s exterior complex was completely renovated a year ago and all assessments have been paid. In ground pool and tennis courts makes the Cove a very nice entry level investment or personal use. #5 Beach Place sold for full price in only 6 days. The nicely appointed unit had numerous upgrades. The two story town home was a 1983, 3bd/2.5ba last sold for $372,500 in 2015. The present owners totally renovated the entire unit thus the full offer in 6 days.
|CONDOS INCREASE/DECREASE||LOCATION||SIZE||PREVIOUS PRICE||NEW PRICE|
|2107A Coastal Highway||#c8 Izzy Plaza||920 sq’ retail space||$375,000|
|2107B Coastal Highway||#c7 Izzy Plaza||1000 sq’ retail space||$244,999|
|21 Van Dyke St||Dewey Beach||Bell Buoy Inn 16 rooms/owners suite||$2,100,000|
Presently there’s two commercial retail units available in Izzy Plaza. The Bell Buoy Inn is a 16 unit motel. The ocean block complex also has an two bedroom owners suite for on the site maintenance or additional income as a 17th unit. Please contact me for financials and a private showing.
|lot 26 Fisher St.||Dodds Addition||5,000 sq’||$925,000|
|lot 1 Old Bay Rd.||.61 ac||$499,900|
Lot 26 Fisher St. is a 5,000 sq’ lot in Dodds Addition. Conveniently located on the corner of Cottage Lane and then Pine Lane then your at Silver Lake Drive and left to Rehoboth or right into Dewey. The best of both worlds!! Lot 1 Old Bay Rd is part of the original Dodd farm. This .61 acre parcel falls under county zoning thus avoiding tighter town codes.