Dewey Market Watch 11/14/24 thru 1/13/25
Happy new year!!!! It’s nice to have the holidays behind us and looking forward to spring. I’d be happy to never see snow again! We received a foot of snow and artic temperatures. The forecast for the next 2 weeks is record shattering artic temps. Where’s that damned groundhog? LOL The 2024 selling season was spectacular. I’d like to thank all of my clients and friends who helped me have one of my best year’s in 23 years in the business. I couldn’t have done this without you. Thank you!!
The market has been at a snail’s pace. There was very little activity during the last two months that was all due from the holidays. Typical yearly scenario! Our inventory is starting to dwindle down. We presently have four single family (fee simple) homes for sale. There’s five condos and three fractional share units in the Surf Club and that rounds out our inventory in the town of Dewey. There’s one single family home (fee simple) in Ann Acres, two homes in Indian Beach and one townhome in Dodds Addition. That’s our entire inventory! We surely need some inventory for the upcoming spring season. There’s not a whole bunch of good news for the interest rates. The rates are averaging about 7% for a 30 year fixed primary, 6.750% for a jumbo. The rumor is that we may not see any rate drops in 2025. Time will tell:) The 2024 selling season was good! Let’s hope for tons of inventory and a record 2025 season!!!
Have a happy and prosperous new year!!
| SINGLE FAMILY NEW | LOCATION | SIZE | ASKING PRICE |
| 40 Beach Ave | Indian Beach | 7bd/7.5ba 4,200 sq’ | $4,799,000 |
| SINGLE FAMILY PENDING | LOCATION | SIZE | ASKING PRICE |
| 108 Jersey St. 59 year lease #$23K yr | Rehoboth By The Sea | 4bd/3.5 ba | $1,995,000 |
| 20965 Rogers Ave. | Ann Acres | 5bd/2.5 ba 2,456 sq’ | $1,274,900 |
| 38386 F Benson St | Killens Addition | 5bd/4.5ba 4,480 sq’ | $2,200,000 |
| SINGLE FAMILY CLOSED | LOCATION | SIZE | ASKING PRICE | CLOSED PRICE |
| 103 Carolina St. 52 year lease @$25K yr. | Rehoboth By The Sea | 4bd/3.5ba | $2,075,000 | $2,017,501 |
| 38226 Anna B St. | Dodds Addition | 4bd/5.5ba | $1,925,000 | $1,885,000 |
| 38242 Robinson Dr. | Silver Lake Manor | 4bd/3ba | $1,499,000 | $1,450,000 |
| 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 |
| 1301 Coastal Hwy. | #V352 Lighthouse Cove | 2bd/2ba 1,077 sq’ | $1,100,000 |
| 3 Seastrand Ct 54 year lease @ $30,618 yr. | #21 Seastrand | 4bd/3.5ba 2,200 sq’ | $1,695,000 |
| 1 Read Ave. quarterly fractional share | #114A Surf Club | 0bd/1ba 354 sq’ | $69,900 |
| CONDOS PENDING | BUILDING | SIZE | ASKING PRICE |
| 1701 Coastal Hwy. | #N301 Opal | 1bd/2ba 821 sq’ | $499,900 |
| CONDOS CLOSED | BUILDING | SIZE | ASKING PRICE | CLOSED PRICE |
| 1609 Coastal Hwy. | #S202 Opal | 2bd/2ba 975 sq’ | $799,900 | $799,900 |
| 2 Van Dyke St. | U5 Seawinds | 4bd/2.ba 1,800 sq’ | $2,550,000 | $2,150,000 |
| 1 Read Ave. quarterly fractional share | #303D Surf Club | 0bd/1ba 476 sq’ | $89,900 | $82,000 |
| 119 Collins Ave. | #111 Marina Views | 1bd/1ba 1,000 sq’ | $639,500 | $639,500 |
| CONDOS INCREASE/DECREASE | BUILDING | SIZE | PREVIOUS PRICE | NEW PRICE |
| 1406 Coastal Hwy. | #3D Delano | 2bd/2ba 1,037 sq’ | $799,000 | $765,000 |
