Dewey Market Watch 8/1/21 thru 8/23/21
The annual running of the bull was held in Dewey this past weekend. It was a good time and enjoyed by all that attended. This annual event unfortunately signifies an end to summer as local summer teens head back to college. The locals summer begins now and into the autumn season:) The market continues to be as strong as it’s ever been. Interest rates are 2.875% for a 30 year fixed and 2.750 for jumbo loans and is the fuel for the red hot market. Inventory is almost non existent in the entire county. Prior to the Covid pandemic this was the time that owners were considering listing their home after all of the summer rentals were realized however that’s not the case anymore in this very aggressive market. Our present market is labeled “aggressive” year round. There were six pending contracts in the last three weeks. Prior to covid the average sales during the peak spring and autumn months was two per week. Summer activity typically slowed during the summer as people vacationed and didn’t pursue their search until autumn after summer rentals have gone. There is no down time in the present market. Many listings are still selling over asking price. There were three such properties within this three week update, see below. Wondering the value of your home in today’s market? Let’s meet after the summer rentals are complete. Looking to purchase? Let me educate you with your area of the market. You absolutely have to be pre educated so that when the right listing hits the market, you’re ready to present an educated offer at a moments notice. Enjoy the remainder of summer!!!
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| SINGLE FAMILY NEW | LOCATION | SIZE | ASKING PRICE |
| N/A | N/A | N/A | N/A |
| SINGLE FAMILY PENDING | LOCATION | SIZE | ASKING PRICE |
| 206 Carolina St 51 year lease @ $13,168 yr | Reho. By The Sea | 3bd/2ba | $799,000 |
| SINGLE FAMILY CLOSED | LOCATION | SIZE | ASKING PRICE | CLOSED PRICE |
| 21207 2nd St | Ann Acres | 3bd/2ba | $700,000 | $700,000 |
| 21100 Elizabeth Ave | Ann Acres | 3bd/3ba | $799,000 | $1,025,000 |
| 15 Hazlett St. | Indian Beach | 10bd/7fl ba/2hlf ba 7,750 sq’ | $4,799,999 | $4,200,000 |
| SINGLE FAMILY INCREASE/DECREASE | LOCATION | SIZE | PREVIOUS PRICE | NEW PRICE |
| 110 Clayton St. | Dewey | 5bd/4.5BA 2,300 sq’ | $1,349,000 | $1,299,000 |
| 20991 Dodd Ave. | Ann Acres | 4bd/2.5ba 1,994 sq’ | $1,250,000 | $1,150,000 |
| CONDOS NEW | BUILDING | SIZE | ASKING PRICE |
| 1609 Coastal Hwy. | #403 Opal | 2bd/2ba | $550,000 |
| 101 Swedes St. | #2 Four Tides | 4bd/3.5ba 2,610 sq’ | $1,395,000 |
| CONDOS PENDING | BUILDING | SIZE | ASKING PRICE |
| 4 Swedes St. 40 year lease @ $6,892 yr. | #7 Bermuda Sea Mist | 4bd/4.5ba | $1,200,000 |
| 1301 Coastal Hwy. | #445 Lighthouse Cove | 3bd/2.5ba 1,634 sq’ | $1,549,000 |
| 2009 Bayard Ave. | #207 Cajun Cove | 2bd/2ba 1,264 sq’ | $670,000 |
| 21 Rodney Ave. | #3 Rodney Street condos | 2bd/1ba | $499,900 |
| 1904 Coastal Hwy. | #E Surfrider | 3bd/2ba 1,300 sq’ | $585,000 |
| CONDOS CLOSED | BUILDING | SIZE | ASKING PRICE | CLOSED PRICE |
| 25 Read Ave. | #1 Seabreeze Village | 4bd/3.5ba | $997,5000 | $950,000 |
| 105 Bellevue St. | #B Sanctuary | 2bd/2ba 800 sq’ | $399,000 | $410,000 |
| 38181 Robinson Dr. | #2W Bayberry Pines | 3bd/2ba 1,200 sq’ | $499,000 | $453,000 |
| 1609 Coastal Hwy. | #303S Opal | 2bd/2ba | $439,500 | $445,000 |
| CONDOS INCREASE/DECREASE | BUILDING | SIZE | PREVIOUS PRICE | NEW PRICE |
| N/A | N/A | N/A | N/A | N/A |
