Happy springtime!! I just saw my 1st hummingbird yesterday which makes it officially summer in my book! The forecast is 78 on Sunday and into the mid eighties next week which again makes it officially summer:) The market has been a little slow for the spring selling season. I actually had to delay my market update until we got a little activity. There were only two new single family listings and one new condo listing for the previous month’s activity. There were two leased land single family homes and three condos that went to contract. Typically there should be about 7-8 transactions if not more for four weeks in the spring selling season. Multiple offers are still occurring if the property is priced properly. I had several offers on my Izzy Plaza listing and I know of several more within this update so the market still remains very strong despite the higher interest rates. There were eight closings from the previous month. Presently in our immediate market area there’s six fee simple single family homes, two leased land single family homes and four condos. Inventory is surely increasing in our market and nationwide. We only had one single family home and one condo on the market not that long ago. The interest rates remain the same as my last report. The rate for a primary, 30 year fixed is hovering about 7%. The rates for a 2nd home might be a little higher at approx. 7.250% and last but not least 7.50% for our investor loans. Where’s the four or five rate drops that we were supposed to see? The good news is that 75% of my buyers (Dewey & Rehoboth) are cash. I personally don’t think that the higher interest rates have effected our market one little bit. The multiple offers and full contract prices are the proof. It’s the best time of the year to list and sell a property. Please contact me for a free market analysis. Spring is here! Life is good! Get outside and enjoy our beaches and parklands!!!
SINGLE FAMILY NEW |
LOCATION |
SIZE |
ASKING PRICE |
13 Bellevue St. |
Town of Dewey Beach |
7bd/5.5ba 5,150 sq’ |
$4,995,000 |
22024 Coastal Hwy. |
Indian Beach |
4bd/4.5ba 4,704 sq’ 7.82 ac. |
$3,500,000 |
SINGLE FAMILY CLOSED |
LOCATION |
SIZE |
ASKING PRICE |
CLOSED PRICE |
203 Jersey St. 60 year lease @ $18,112 yr. |
Rehoboth By The Sea |
3bd/2ba |
$969,000 |
$969,000 |
115 Cullen St. 54 year lease @ $23K yr. |
Rehoboth By The Sea |
5bd/3ba 2,500 sq.’ |
$1,995,000 |
$1,995,000 |
118 Chicago St. 52 year lease @ $20,396 |
Rehoboth By The Sea |
5bd/3ba 2,500 sq.’ |
$1,865,000 |
$1,865,000 |
SINGLE FAMILY INCREASE/DECREASE |
LOCATION |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
101 Dover Rd. |
Town of Dewey Beach |
4bd/2.5ba 2,614 sq’ |
$2,499,900 |
$2,274,900 |
38242 Robinson Dr. |
Dodds Addition |
4bd/3ba |
$1,725,000 |
$1,695,000 |
CONDOS NEW |
BUILDING |
SIZE |
ASKING PRICE |
21 Rodney Ave. |
#2 Rodney Street |
2bd/1ba |
$739,000 |
CONDOS CLOSED |
BUILDING |
SIZE |
ASKING PRICE |
CLOSED PRICE |
24 Dickinson Ave. |
#7A Dewey Villas |
1bd/1ba |
$439,000 |
$450,000 |
1406 Coastal Hwy. |
#3-B Delano |
2bd/2ba 879 sq.’ |
$650,000 |
$640,000 |
25 McKinley Ave. |
Sand |
5bd/3.5ba 2,400 sq.’ |
$1,650,000 |
$1,550,000 |
23 McKinley Ave. |
Sand |
3bd/2.5ba 1,200 sq.’ |
$1,150,000 |
$1,150,000 |
CONDOS INCREASE/DECREASE |
BUILDING |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
20960 Rogers Ave. |
El Capitan |
2bd/1ba |
$558,000 |
$530,000 |
Spring has sprung!!! They are my most favorite words! Spring flowers, the return of our migrating shorebirds, the beach, warm weather, I could go on and on what makes springtime the best time of the year!!! The real estate market has been steady. There’s been five transactions in the previous three weeks. These numbers reflect the average amount of pending transactions for the previous months. We would hope to see these numbers increase during the spring market season but in order to do so then we have to see some additional new listings hit the market. I personally expect more listings in 2024 as people realize that we may be at the top of our market. Presently there’s four fee simple single family homes, four single family homes on leased land and four condos in Dewey and the surrounding communities. One of the new listings is my listing at 2103 D in Izzy Plaza. This unit offers a huge open floor plan that’s great for entertaining and a covered rooftop deck that further enhances the festive atmosphere. The home had a $54K rental income in 2023 with several weeks already booked into 2024. Custom colors, new stainless appliances and the list goes on and on. Better hurry on this one! The interest rates haven’t dropped much as promised. The rates are approx. 7% for a 30 year fixed on a primary residence and approx. 7.250% to 7.5% for a 2nd home buyer or investor. Please contact me if you’d like a free, no pressure market analysis on your home. It’s a wonderful time to enjoy the beach and all of the newly arriving shorebirds! Get out and enjoy Delmarva!!!
SINGLE FAMILY CLOSED |
LOCATION |
SIZE |
ASKING PRICE |
CLOSED PRICE |
N/A |
N/A |
N/A |
N/A |
N/A |
SINGLE FAMILY INCREASE/DECREASE |
LOCATION |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
N/A |
N/A |
N/A |
N/A |
N/A |
CONDOS INCREASE/DECREASE |
BUILDING |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
20960 Rogers Ave. |
#4 El Capitan |
2bd/1ba 461 sq’ |
$580,000 |
$575,000 |
Spring is in the air! Locals are eagerly awaiting the return of the 1st osprey and the many varieties of shorebirds that make springtime at the beach such a special time of the year. The real estate market remains very active. The leased lands properties in Rehoboth By The Sea continue to dominate the market. There were four new single family homes on leased lands just listed and one already has a pending contract. I’ll be adding a 5th new listing within a week. The home is a 4 bd/3ba, 2,200 sq’ and totally renovated with a huge addition. One of the key features is the land lease. There are presently 11 years remaining on the lease. The annual lease amount is a little over $1,200. a YEAR, that’s right $1,200. a year which is just about free!!! This home will sell almost immediately due to the condition of the home and the favorable lease terms. The present interest rates are approx. 7 1/8 for a 30 year fixed and 7 3/8 for a 2nd home/investor. Where are those rate drops that were promised?? Regardless of the interest rates and based on the recent pending sales, I expect us to have an excellent spring and summer selling season. St. Patty’s day is right around the corner! Happy spring!!!
SINGLE FAMILY NEW |
LOCATION |
SIZE |
ASKING PRICE |
202 Chesapeake St. 48 year lease @ $19K yr. |
Rehoboth By The Sea |
5bd/3.5ba 2,600 sq’ |
$1,495,000 |
117 Carolina St #A 59 year lease @ $22K yr. |
Rehoboth By The Sea |
4bd/3ba |
$1,995,000 |
18 Carolina St. 52 year lease @ $33,280 yr. |
Rehoboth By The Sea |
3bd/2ba 1, o56 sq’ |
$1,350,000 |
118 Chicago St. 52 year lease @ $20,396 yr. |
Rehoboth By The Sea |
5bd/3ba 2,500 sq’ |
$1,865,000 |
SINGLE FAMILY INCREASE/DECREASE |
LOCATION |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
101 Dover Rd. |
Dewey Beach |
4bd/2.5ba |
$2,699,999 |
2,499,900 |
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 |
25 McKinley Ave. |
#2 |
5bd/3.5ba 2,400 sq’ |
$1,800,000 |
$1,650,000 |
23 McKinley Ave. |
#1 |
3bd/2.5ba 1,200 sq’ |
$1,400,000 |
$1,350,000 |
Happy 2024!!! I’m a little behind schedule due to admitting my mom into a nursing home. I’m ready for spring and all of the exciting activities that spring ushers in. The 2023 season ended with a flurry of activity. The 2024 season is no different. All four of the pending single family homes on leased land sold in the 2nd week of January. Presently there’s only two fee simple single family homes on the market, one in Indian Beach, three on RBTS leased lands, three fee simple condos and one leased land condo. I just listed the leased land condo in Seastrand unit #22. It’s a very rare offering and is in very high demand. Seastrand is located in the ocean block of Chesapeake St adjacent to Billionaire row and Silver Lake. This condo will be gone within a few days from receiving this email. Please call me immediately if you have an interest. The total inventory is five single family homes and four condos. The demand is year round now unlike earlier years when the spring selling season started in March and lasted through October. The 2024 selling season should be a good one as long as we get inventory. Rumors have it that we are going to see three to four rate drops throughout the year thus creating a very favorable atmosphere! Please contact me for a private market analysis. The days are getting longer and spring is just around the corner:):)
SINGLE FAMILY NEW |
LOCATION |
SIZE |
ASKING PRICE |
101 Dover Rd. |
Dewey Beach |
4bd/2.5ba 2,614 sq’ |
$2,699,999 |
SINGLE FAMILY PENDING |
LOCATION |
SIZE |
ASKING PRICE |
205 Carolina St. 59 year lease @ $28K yr. |
Reho. By The Sea |
3bd/2ba 1,650 sq’ |
$1,295,000 |
203 Jersey St. 60 year lease @ $18,112. yr. |
Reho. By The Sea |
3bd/2ba |
$969,000 |
109 Saulsbury St. |
Reho. By The Sea |
3bd/2ba |
$1,199,000 |
23 Saulsbury St. 52 year lease @ $12,716 yr. |
Reho. By The Sea |
3bd/2ba 1,222 sq’ |
$920,000 |
SINGLE FAMILY CLOSED |
LOCATION |
SIZE |
ASKING PRICE |
CLOSED PRICE |
16 Bassett Ave. |
Indian Beach |
4bd/4fl ba/2hlf ba 4,140 sq’ |
$2,295,000 |
$2,220,000 |
20896 Old Bay Rd |
Rehoboth Beach |
4bd/3.5ba 2,500 sq’ |
$1,800,000 |
$1,500,000 |
20 St. Louis St. |
Reho. By The Sea |
4bd/2ba 1,508 sq’ 75 X 100 lot |
$2,975,000 |
$2,650,000 |
CONDOS PENDING |
BUILDING |
SIZE |
ASKING PRICE |
N/A |
N/A |
N/A |
N/A |
CONDOS CLOSED |
BUILDING |
SIZE |
ASKING PRICE |
CLOSED PRICE |
2001 Bayard Ave. |
#15 Baystrand 3 |
4bd/3ba 2,200 sq’ |
$998,500 |
$970,000 |
1301 Coastal Hwy |
# V358 Lighthouse Cove |
2bd/2ba |
$939,900 |
$940,000 |
1301 Coastal Hwy |
# 359 Lighthouse Cove |
3bd/3ba |
$1,299,900 |
$1,300,000 |
24 Read Ave. |
#C |
1bd/1ba |
$499,000 |
$415,000 |
CONDOS INCREASE/DECREASE |
BUILDING |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
N/A |
N/A |
N/A |
N/A |
N/A |
Happy Thanksgiving!!! Tis the season to gather with family and friends to celebrate and give thanks for the wonderful year of 2023. The Dewey market continues to thrive! The recent rash of new listings resulted with five pending contracts. You’d fully expect the market to slow with the holidays upon us and the interest rates hovering around 8.5% for 2nd home buyers and investors but it’s not!! There were three single family home sales and two condo sales in the last three weeks. Presently there’s 11 single family homes and four condos on the market in Dewey and the surrounding communities. That’s huge!! It was only a little over a few months ago that there was only one single family home for sale and one condo. Nationwide, sales are down but that doesn’t apply to our niche beach resort properties. The market may slow as normal for the holiday season but I fully expect the market to remain strong in 2024. Please contact me for an update of our inventory. Owners, it’s a great time to list after the holidays. Please reach out to me for a free market analysis that will educate you with the value of your home in today’s present market. A special thank you to all of our military personnel and their family’s that each one endures with the absence of a loved one during the holiday season and throughout the year. Happy Thanksgiving to everyone!!!
SINGLE FAMILY PENDING |
LOCATION |
SIZE |
ASKING PRICE |
20 St Louis St. |
Reho. By The Sea |
4bd/2ba 75 X 100 lot 1,508 sq’ |
$2,975,000 |
16 Bassett Ave. |
Indian Beach |
4bd/4fl ba/2hlf ba 4,140 sq’ |
$2,295,000 |
20896 Old Bay Rd. |
Rehoboth Beach |
4bd/3.5ba 110 X 120 lot 2,500 sq’ |
$1,800,000 |
SINGLE FAMILY CLOSED |
LOCATION |
SIZE |
ASKING PRICE |
CLOSED PRICE |
38180 Terrace Ave. |
Silver Lake Manor |
3bd/3.5ba 1,600 sq’ |
$2,550,000 |
$2,300,000 |
CONDOS CLOSED |
BUILDING |
SIZE |
ASKING PRICE |
CLOSED PRICE |
100 Collins Ave. |
#301 Marina View |
1bd/1ba 1,090 sq’ |
$599,000 |
$592,000 |
18 Dagsworthy Ave. |
#4 Ocean Sands |
3bd/2.5ba 1,600 sq’ |
$1,250,000 |
$1,245,000 |
CONDOS INCREASE/DECREASE |
BUILDING |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
N/A |
N/A |
N/A |
N/A |
N/A |
Happy Halloween!! No tricks here, just treats!! What a month that it’s been! The autumn inventory just soared! There are six new single family listings. Three of the homes are fee simple and three of the home are on leased land. There were also three new condo listings. We were previously down to one single family home being listed and one condo so this new inventory was surely needed. Presently in the immediate Dewey area there’s 11 fee simple single family homes for sale, four leased land single family homes and five condos. That’s incredible after such a long time that no inventory was available. The new listings are located in the communities of Rehoboth By The Sea, Indian Beach, Poynters Addition and (in town) Dewey. These new listings are in highly sought after locations and shouldn’t last long! Three of the four pending transactions below went to contract in two days, four days and forty eight days which indicates that the market is still very strong. The interest rates for a 2nd home/investor mortgage have risen and is now are in the low to mid 8% range. This really hasn’t slowed our market down from Lewes to Fenwick in the immediate beach area. It’ll be interesting to see how much activity we have during the holidays. Typically the market slows to a snails pace as people enjoy the holiday season. Upon request, the sellers disclosures and any supporting documents are available for any of these properties. Please just contact me and I’ll be happy to forward them to you. Do you have a property of interest? I always offer a Facetime appointment so that you can enjoy from the comforts of your home before traveling to view it live. Please don’t hesitate to call my cell anytime (until 9:00pm daily) with any questions… that I can assist you with. Have a happy Halloween!!!!
SINGLE FAMILY NEW |
LOCATION |
SIZE |
ASKING PRICE |
205 Carolina St. 59 year lease @ $28K yr |
Rehoboth By The Sea |
3bd/2ba 1,650 sq’ |
$1,295,000 |
20 St. Louis St. |
Rehoboth By The Sea |
4bd/2ba 1,508 sq’ 75 X 100 lot |
$2,975,000 |
20896 Old Bay Rd. |
Rehoboth |
4bd/3.5ba 2,500 sq’ 110 X 120 lot |
$1,800,000 |
112 Jersey St. 59 year lease @ $23K yr |
Rehoboth By The Sea |
4bd/3.5ba 2,250 sq’ |
$1,995,000 |
23 Saulsbury St. 52 year lease @ $12,716 |
Rehoboth By The Sea |
3bd/2ba 1,222 sq’ condominiumized |
$990,000 |
16 Bassett Ave. |
Indian Beach |
4bd/3fl ba/2hlf ba 4,140 sq’ |
$2,295,000 |
SINGLE FAMILY PENDING |
LOCATION |
SIZE |
ASKING PRICE |
38180 Terrace Rd. |
Silver Lake Manor |
3bd/3.5ba 1,600 sq’ |
$2,550,000 |
SINGLE FAMILY CLOSED |
LOCATION |
SIZE |
ASKING PRICE |
CLOSED PRICE |
34 Collins Ave. |
Indian Beach |
6bd/4fl ba/2hlf ba 7,150 sq’ |
4,985,000 |
$4,900,000 |
SINGLE FAMILY INCREASE/DECREASE |
LOCATION |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
109 Saulsbury St. |
Rehoboth By The Sea |
3bd/2ba |
$1,499,000 |
$1,299,000 |
18 Carolina Ave. 54 year lease@ $31,440 yr. |
Rehoboth Buy The Sea |
3bd/2ba |
$1,499,000 |
$1,355,000 |
38242 Robinson Dr. |
Dodds Addition |
4bd/3ba |
$1,895,000 |
$1,799,900 |
CONDOS CLOSED |
BUILDING |
SIZE |
ASKING PRICE |
CLOSED PRICE |
11 Read Ave. |
#8 Bluff |
3bd/3.5ba 2,100 sq’ |
$1,395,000 |
$1,350,000 |
1301 Coastal Hwy. |
#405 Lighthouse Cove |
2bd/2ba 1,026 sq’ |
$899,900 |
$899,900 |
1609 Coastal Hwy. |
#S207 Opal |
2bd/2ba |
$565,000 |
$565,000 |
10 Van Dyke St. |
#B Dunes Reach |
4bd/3.5ba 1,920 sq’ |
$1,595,000 |
$1,651,000 |
CONDOS INCREASE/DECREASE |
BUILDING |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
N/A |
N/A |
N/A |
N/A |
N/A |
It’s only a couple days away and we’re already into October. My last two hummingbirds left yesterday with the full moon so the summer of 2023 is officially over! The summer may be over but the market’s still pretty active. Interest rates have slowed the market in many areas of the country. Lucky for us, this is not our case. We are a niche resort market. Traveling from Broadkill Beach down to the MD/DE line in Fenwick and proceeding west 3-5 miles will always be active due to their proximity to the beach. Proof is in the pudding! Take a look at the three pending condos (see below). They were listed only days after my last market update. The average was six days on the market and they had pending contracts. The interest rates are hovering at 7% for a 30 year fixed primary and about 7.5% for a 2nd home buyer or investor.
Our inventory has picked up a little for the autumn selling season. Presently there’s four fee simple single family homes, one leased land single family home and four condos. We actually have inventory for building lots! We have a lot for sale in Dewey, a double commercial lot in Ann Acres and two homesites in Indian Beach. Are you looking for an investment opportunity, 2nd home? Please contact me and I’ll be happy to educate you with the Dewey and surrounding market. October’s a great beach month! Get out and enjoy!!!
SINGLE FAMILY NEW |
LOCATION |
SIZE |
ASKING PRICE |
38242 Robinson Dr. |
Dodds Addition |
4bd/3ba DUPLEX |
$1,895,000 |
SINGLE FAMILY PENDING |
LOCATION |
SIZE |
ASKING PRICE |
38180 Terrace Rd. |
Silver Lake Manor |
3bd/3.5ba |
$2,550,000 |
SINGLE FAMILY CLOSED |
LOCATION |
SIZE |
ASKING PRICE |
CLOSED PRICE |
N/A |
N/A |
N/A |
N/A |
N/A |
SINGLE FAMILY INCREASE/DECREASE |
LOCATION |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
N/A |
N/A |
N/A |
N/A |
N/A |
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 |
18 Dagsworthy Ave. |
#4 Ocean Sands |
3bd/2.5ba 1,600 sq’ |
$1,349,000 |
$1,250,000 |
Happy Friday! We have a little burst of new inventory in the last few days. There were four new listings and one is already sold. The new listings include one of the most expensive that I can remember in Indian Beach, asking $7,982,000. The 7,750 sq’ consists of 11 bedrooms, 7 full baths and two half baths. The upgrades are too numerous to mention. Please click on the address below for more details. The 2nd new listing is 109 Saulsbury. The 3bd/2ba is priced accurately and is being offered at $1,499,000. What’s this? There’s a rare fee simple building lot on Buena St. Priced at $1.2M, this 50 X 100 listing will be gone in a flash! The 4th listing was a 2bed and two bath Opal unit. The listing went to contract in only four days. Time is of the essence on these listings. Please contact me immediately for more details, disclosures…. Have a super weekend! Hope this heatwave cools down a little:)
SINGLE FAMILY NEW |
LOCATION |
SIZE |
ASKING PRICE |
15 Hazlett Ave. |
Indian Beach |
11bd/7fl ba/2hlf ba 7,750 sq’ |
$7,982,000 |
109 Saulsbury St. |
Rehoboth By The Sea |
3bd/2ba |
$1,499,000 |
SINGLE FAMILY PENDING |
LOCATION |
SIZE |
ASKING PRICE |
N/A |
N/A |
N/A |
N/A |
SINGLE FAMILY CLOSED |
LOCATION |
SIZE |
ASKING PRICE |
CLOSED PRICE |
N/A |
N/A |
N/A |
N/A |
N/A |
SINGLE FAMILY INCREASE/DECREASE |
LOCATION |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
38180 Terrace Ave. |
Silver Lake Manor |
3bd/3.5ba 1,600 sq’ |
$2,600,000 |
$2,550,000 |
CONDOS PENDING |
BUILDING |
SIZE |
ASKING PRICE |
1609 Coastal Hwy |
S207 Opal |
2bd/2ba |
$565,000 |
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 |
N/A |
N/A |
N/A |
N/A |
N/A |
BUILDING LOTS |
LOCATION |
SIZE |
ASKING PRICE |
0 East Buena St. |
Dewey town limit |
50 X 100 |
$1,200,000 |
Oh no!!!! Summer’s already coming to an end! Where did the time go? Hopefully everyone had an enjoyable summer filled with memories for the scrapbook:) The market remains the same, no inventory. I don’t know which is worst the lack of inventory or the interest rates for a 2nd home buyer or investor that are hovering about 8%. Buyers are still out there and many have the capability to pay in cash, borrow now and refi later… so it’s not the end of the world.
Presently in the town of Dewey there’s three fee simple single family homes, one single family on leased land and two condos. Outside of Dewey town limits on the west side of Ocean Hwy. there’s one single family home listed in Ann Acres. On the east side of Ocean Hwy. Silver Lake Manor just received a new listing on Terrace Rd. Indian Beach has a new listing at 22024 Coastal Hwy. This property boasts 7.82 ac of beautiful marsh land accompanied by some of the most spectacular sunsets possibly in the country! New record high asking and selling prices are now being realized. Four to five million dollar homes now grace our inventory.
Autumn is here so the crowded beaches are a thing of the past! Locals get to get some sand under their feet and enjoy the peaceful sandy beaches, warm waters and friendly neighbor smiles. There’s lots of autumn events that will entertain us right thru the holidays. Summer rental incomes have been realized. Are you considering listing your home for the upcoming autumn season or just wondering the value in today’s market? Please contact me 302-381-5602 or joechoma@deweybeachhomesales.com.
SINGLE FAMILY PENDING |
LOCATION |
SIZE |
ASKING PRICE |
34 Collins Ave. |
Indian Beach |
6bd/4fl ba/2hlf ba 7,150 sq’ |
$4,985,000 |
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 |
N/A |
N/A |
N/A |
N/A |
CONDOS PENDING |
BUILDING |
SIZE |
ASKING PRICE |
N/A |
N/A |
N/A |
N/A |
CONDOS CLOSED |
BUILDING |
SIZE |
ASKING PRICE |
CLOSED PRICE |
100 Collins Ave. |
#103 Marina View |
2bd/2ba |
$525,000 |
$525,000 |
1 Read Ave. |
#211C Surf Club |
0 bd/1ba 476 sq’ |
$66,900 |
$66,900 |
CONDOS ICREASE/DECREASE |
BUILDING |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
18 Dagsworthy Ave. |
#4 Ocean Sands |
3bd/2.5ba |
$1,450,000 |
$1,349,000 |
Happy sweltering summer! I know! Everybody hates this heat but I’m one of the goofballs that actually loves it!. Averaging 97 degrees all week! I love it. The state fair is in full swing and with it comes severe heat and thunderstorms for the last week in July. Get to the beach and cool off in the ocean:):) There’s not a whole bunch of real estate news to report this month. I had to wait a month for something to report on and this is it in it’s entirety. My listing at 105 Carolina went to contract almost immediately upon listing. My listing at 204 Jersey just closed @ $1.5M. 122 Jersey St. was a RBTS leased land lot only with an asking price of $925K. The 50 X 100 lot went pending in only six days. 18 Dagsworthy reduced their price from $1,625,000 to $1,450,000. Unit 211C in the Surf Club has a contract on it. Presently there’s four fee simple single family homes on the market and one leased land property. There’s two condos available and that’s it for in town Dewey. There’s one single family home in Ann Acres and one in Indian Beach. That’s it for the total inventory! The interest rates just took a hike! The rate for a 30 year primary is approximately 7% now. That means 7.5% for 2nd home buyers and investors. The very low inventory and the higher interest rates have me going to the beach this afternoon to enjoy what I moved here for nearly 40 years ago, the beach and the coooool ocean! Enjoy and have a safe summer:):)
SINGLE FAMILY NEW |
LOCATION |
SIZE |
ASKING PRICE |
N/A |
N/A |
N/A |
N/A |
SINGLE FAMILY CLOSED |
LOCATION |
SIZE |
ASKING PRICE |
CLOSED PRICE |
204 Jersey St. |
Rehoboth By The Sea |
3bd/1.5ba |
$1,650,000 |
$1,500,000 |
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 |
N/A |
N/A |
N/A |
N/A |
CONDOS CLOSED |
BUILDING |
SIZE |
ASKING PRICE |
CLOSED PRICE |
3 Dickinson Ave. |
#6A Ocean Harbor |
4bd/3.5ba 2,252 sq’ |
$1,850,000 |
$1,825,000 |
CONDOS INCREASE/DECREASE |
BUILDING |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
18 Dagsworthy Ave. |
#4 Ocean Sands |
3bd/2.5ba 1,600 sq’ |
$1,625,000 |
$1,450,000 |