Dewey Market Watch 1/14/25 thru 2/12/25
Got sun? Got 85 degrees? Sussex county got socked with another 8 inches of snow yesterday! We’ve seen enough snow for 5 years! Unlike the weather, the spring market is heating up in a quick way. We just went from the holiday doldrums to a very, very active market. I was on solid listing appointments for the last couple of weeks. The quick sales at 9 Read Ave. (9 days on market), 103 Bayside Ct. (3 days on market) & 304 Dutch Rd. (10 days on market) proves that anxious buyers are out there. Be fast or be last! Coming soon: 24 Van Dyke St., ocean block, 4bd/3ba, 1,920 sq’, two owner suites, fully furnished, asking $1,469,000 & 38399 George St. charming yesteryear, upgraded 2bd/1ba, fee simple single family home, zoned commercial 1. This unique zoning offers endless possibilities asking $899,900. Please contact me for additional information. The interest rates remain the same , approx. 7% for a 30 year fixed primary and approx. 7.5% for a 2nd home/investor. The interest rates haven’t seemed to slow our resort market activity, however I’m working with a couple first time home buyers and it’s surely having an impact on them by increasing their monthly payments by $200. to $300 which is huge at entry level pricing. It doesn’t appear that there’s going to be any drop in the immediate future. Inventory remains low. Presently there’s only a dozen properties for sale. There’s seven condos, 1 leased land condo and five single family homes, all within the area of Indian Beach, Dewey and both east & west sides of Ocean Hwy in the Forgotten Mile. I expect inventory to increase with the spring selling season. I know one thing for sure, I’ll be happy to see that Easter bunny and spring!!! Stay warm and be careful in the snow!!!
| single family new | location | size | asking price |
| 122 Houston St. | Rehoboth By The Sea | 6bd/3ba double lot | $2,500,000 |
| 20961 Rogers Ave. (back on market) | Ann Acres | 3bd/1ba | $949,900 |
| single family pending | location | size | asking price |
| 20965 Rogers Ave | Ann Acres | 5bd/2.5ba | $1,274,900 |
| 304 Dutch Rd, | Seabreeze Dev | 6bd/3.5ba | $1,824,900 |
| single family closed | location | size | asking price | closed price |
| 108 Jersey St. 59 year lease @23K yr | Rehoboth By The Sea | 4bd/3.ba | $1,995,000 | $1,865,000 |
| 22024 Coastal Hwy. | Indian Beach | 4bd/4.5ba 7.82 acres | $3,200,000 | $2,825,000 |
| 38386 F Benson St. | Killens Addition | 5bd/4.5 ba 4,480 sq’ | $2,200,000 | $2,150,000 |
| single family increase/decrease | location | size | previous price | new price |
| N/A | N/A | N/A | N/A | N/A |
| condos new | building | size | asking price |
| 25 Collins St. | #3C Tidewatch Apts | 2bd/1ba | $689,000 |
| 1406 Coastal Hwy. | #3A Delano | 2bd/2ba | $799,000 |
| 20960 Rogers Ave. | El Capitan | 2bd/1ba | $435,000 |
| 103 Bayside Ct. | Bayside Court | 3bd/3ba | $1,100,000 |
| condos pending | building | size | asking price |
| 1406 Coastal Hwy | #3A Delano | 2bd/2ba | $799,000 |
| 9 Read Ave. | #13 The Bluff | 4bd/3.5ba | $1,650,000 |
| 103 Bayside Ct. | Bayside Ct | 3bd/3ba | $1,100,000 |
| 26 Read Ave. | #B Oceanside Townhomes | 2bd/2.5ba | $1,098,000 |
| condos closed | building | size | asking price | closed price |
| N/A | N/A | N/A | N/A | N/A |
| condos increase/decrease | building | size | previous price | new price |
| 1406 Coastal Hwy. | #3D Delano | 2bd/2ba | $799,000 | $769,000 |
