Dewey Market Watch 9/17/19-10/3/19

123 Chesapeake is a 2004, 5bd/3.5ba and is a demonstration of pure elegance. The home is tastefully upgraded with an interior design to kill for and is located on a very peaceful location on Chesapeake. Previously listed with another firm @ $1,825,000 this home was just reduced to $1,699,000. 27 Rodney is a entry level ocean block homesite being offered for $1.1M. Thinking of building? Let your imagination run wild as you draw up your plans for a newly constructed ocean block home:) This property will not last long!! 23 Saulsbury is a Reho. By The Sea property and is a ocean block property. The 1961 3bd/2ba has been meticulously cared for and pride of ownership shows throughout. The property has a 53 year lease @ $10,818 a year . Better hurry before this one goes pending:) 112 Carolina is a 3bd/2fl ba/2hlf ba built in 1961. This home showed like a charm and only lasted 7 days on the market. Thinking of purchasing a single family home in Dewey? A properly priced single family home doesn’t last long in a market that’s short on inventory.  Let me set you up on an automated search so that you can receive any new listings… the very second that it’s listed. Please contact me for more info.

There were four single family pending transactions in the past two weeks. Two of the properties were fee simple and two were on Reho. By The Sea leased lands. 111 Cullens was built in 2018. This 5 bd/3fl ba/2hlf ba home had every upgrade imaginable. Highlighting the home was the inground pool that surely would be the hit for any event gathering. 13 Dagsworthy was only 2 lots off of the beach. This condominiumized single family home was a member of Scrod Acres which consists of 6 grandfathered homes, no HOA fees! Reho. By The Sea had two pending transactions. Closing prices vary depending on the home and the location of the home site as seen at 112 Carolina (2nd block) vs 210 Carolina (3rd block).

200 Chesapeake is a Reho. By The Sea property. The property had a brand new 60 year lease at $15K a year. This property was sold in only 7 days! Chesapeake street is one of the most sought after streets in Dewey due to it’s easy walk into Rehoboth that’s quietly nestled between the two resort towns. 

This is another fine example of a Reho. By The Sea property. Overlook Lake Comegy’s, walk to Rehoboth, walk into Dewey! Nice! Comes with a 29 year lease at $4,186 a year with minimal lease increases. Please contact me for more information and a showing of this property:)

Looking for a entry level priced condo in the Marina Views? This 1bd/1ba unit comes with all of the upgrades stainless appliances, granite tops, hardwood and tile floors… This unit is affordable enough to purchase for personal use but would also be considered a nice entry level rental investment.

Unit #1 Robinson Square is a 2bd/2.5ba built in 1983, 950sq’ and is located just north of Dewey. Originally listed at $345K the owner reduced the price 4X and the unit sold in 602 days on the market. 

Unit #403 is a 3bd/3ba top floor penthouse unit in Lighthouse Cove. Inventory for the Lighthouse Cove is in the last phase and inventory is dwindling down. Please contact me for a list of the remaining inventory. 14 Van Dyke St. is a 1989, 4bd/3.5, 2100 sq’ mid ocean block unit located in Ocean Sunset. The unit sold in only 19 days. The ocean block inventory is extremely low thus resulting in a quick sale. Unit #302 in the Opal is entry level pricing for a 1 bedroom unit in Dewey. The 2008, 1bd/2ba unit, 821sq’ originally listed for $370K and performed a couple of price changes resulting in a sale at market value.

This unit just reduced the price on 10/2 and it resulted in a ratified contract the following day.