Dewey Market Watch 2/13/25 thru 3/9/25
St Patty’s weekend is here! Tradition marks this weekend that so many businesses in the entire resort area open for the summer of 2025! Daylight savings has just arrived and life is great in good old Dewey! The spring selling season is off to a slow start. There were only four sales in the last three weeks, one single family, one condo and two Surf Club units. This is a minimal amount of closings for this time of the year. The inventory for single family homes is stable. There’s four single family homes in Dewey for sale, two in Indian Beach, one in Killens Addition , one in Country Manor and one in Ann Acres. That’s a pretty broad inventory! The condo inventory reflects a very similar inventory. Presently there’s five condos in Dewey, one in Dodds Addition, one in Ann Acres, one in Rehoboth By The Sea (leased land) and two surf Club fractional ownerships. The inventory could use a little boost but what is on the market offers availability in all areas of our market. The interest rates have eased just a tiny bit, nothing significant. The rate for a 30 year primary is averaging about 6.50% and 7% for a 2nd home/investor, no drastic change. I believe that the cold winter weather that we just experienced during the month of February surely impacted our market. It was damned cold!!! Temperatures are all hovering into the 70’s this week, couple that with daylight savings time and St. Patty’s weekend and we’re going to flourish with the new spring flowers!!! The ospreys will arrive this week! The crabs will be coming out of the mud and schools of migrating fish are all coming to the summer of 2025 party! Helloooo spring!!!!
| SINGLE FAMILY NEW | LOCATION | SIZE | ASKING PRICE |
| 38399 George St. (commercial/residential) | Killens Addition | 2/3bd/1ba est. 1,000 sq’ | $899,900 |
MY NEW LISTING Charming beach rancher, walk to the beach, 2/3 bed/1bath zoned commercial residential. Multiple possibilities!
| SINGLE FAMILY PENDING | LOCATION | SIZE | ASKING PRICE |
| 21003 Dodd Ave. | Ann Acres | 4bd/2.5ba 2,126 sq’ | $1,249,000 |
| SINGLE FAMOILY CLOSED | LOCATION | SIZE | ASKING PRICE | CLOSED PRICE |
| 122 Jersey St. 56 year lease @ $22,912 yr | Rehoboth By The Sea | 4bd/3.5ba 2,976 sq’ | $2,190,000 | $2,190,000 |
| 20965 Rogers Ave. | Ann Acres | 5bd/2.5ba 2,456 sq’ | $1,274,00 | $1,215,000 |
| SINGLE FAMILY INCREASE/DECREASE | LOCATION | SIZE | PREVIOUS PRICE | NEW PRICE |
| 40 Beach Ave. | Indian Beach | 7bd/7.5ba 4,200 sq’ | $4,799,000 | $4,650,000 |
| 20961 Rogers Ave. | Ann Acres | 3bd/1ba 1,211 sq’ | $949,900 | $924,990 |
| CONDOS NEW | BUILDING | SIZE | ASKING PRICE |
| 24 Van Dyke St. | Van Dyke Villas | 4bd/3ba 1,912 sq’ | $1,469,900 |
| 2003 Bayard Ave. | #11 Baystrand 3 | 3bd/2ba 1,212 sq’ | $925,000 |
MY NEW LISTING 24 Vandyke # B, ocean block 4bd/3ba, 1,912 sq’, two owner suites, full screened porch, open floor plan. Grat rental potential!
| CONDOS PENDING | BUILDING | SIZE | ASKING PRICE |
| 2 Seastrand Ct. 53 year lease @ $22,680 yr | Seastrand | 4bd/2.5ba 1,600 sq’ | $1,645,000 |
| 1 Read Ave. quarterly fractional share | # 207B Surf Club | 0bd/1ba 476 sq’ | $95,000 |
| 1 Read Ave. quarterly fractional share | #209 C Surf Club | 0bd/1ba 476 sq’ | $85,000 |
| CONDOS CLOSED | BUILDING | SIZE | ASKING PRICE | CLOSED PRICE |
| 9 Read Ave. | #13 Bluff | 4bd/3ba 2,033 sq’ | $1,650,000 | $1,600,000 |
| 26 Read Ave. | #B Oceanside Townhomes | 2bd/2.5ba 1,200 sq’ | $1,098,500 | $1,098,500 |
| 1701 Coastal Hwy. | #N301 Opal | 1bd/2ba 821 sq’ | $499,900 | $490,000 |
| CONDOS INCREASE/DECREASE | BUILDING | SIZE | PREVIOUS PRICE | NEW PRICE |
| 1 Read Ave. quarterly fractional ownership | #114A Surf Club | 0bd/1ba 476 sq’ |
| lAND | LOCATION | SIZE | ASKING PRICE | |
| 20968 Coastal Hwy. | Ann Acres | 100 X 100 | $1,500,000 | |
| 9 Hall Ave. | Indian Beach | 100 X 100 | $3,950,000 | |
| 114 Jersey St. 53 year RBTS lease | Rehoboth By The Sea | 50 X 100 | $1,050,000 |
