Dewey Market Watch 4/3/26 thru 4/16/26

Summer is showing up a little early this year! Temperatures in the low 90’s, arriving hummingbirds, storks , shore birds and of course our summer fish have all completed their migrations. Summer is here to stay and greatly appreciated after such a brutal winter. The market has only realized one sale in the past two weeks. The present re sale inventory includes two fee simple homes in Dewey and one on leased land. We have one single family home listed in Dodds Addition, one in Ann Acres and one in Indian Beach. The inventory for condo re sales are at a minimum that only includes four condos throughout the entire market area. We now have an inventory containing new construction. There’s two new single family homes in the new community of Even Tide (just north of Dewey) and there’s more available. Newly constructed condos (see below 1601 Coastal Hwy.) built over top of the 1st floor commercial have just been released. It’s nice to see some new construction hit the market! The interest rates have eased a little bit. The interest rate is now hovering around 6.125% for a 30 year fixed primary, slightly more for a 2nd home/investment. The new construction is surely an added bonus to our inventory but re sales in both single family homes and condos is needed to improve the  Spring market. Are you possibly considering listing your home in the near future? Please contact me for a free market analysis! Get out and enjoy Delmarva in this absolutely beautiful weather!!!

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Dewey Market Watch 2/19/26 thru 4/2/26

Happy Springtime and oh what a Spring it’s been! Happy to get my seven continuing education classes beyond me, thus the delayed update:) The Dewey Beach market has been kicking butt! I saw the statistics for the market for all of Sussex County. The entire market is down about 10% across the board. That’s not the case for the Dewey Beach and surrounding communities. We are a niche market! The single family and condo market is record high vs. last year’s numbers. What’s the driving force? Supply and demand are the reasons for our strong market. Supply has been minimal since the covid era thus creating the demand. New listings are selling at a record pace as long as they’re priced properly. We are realizing some price reductions to coincide with the slower market but overall our market is very strong. The interest rates have crept up into the mid 6’s for a 30 year primary. The slight increase hasn’t effected our market in the least bit. We have minimal inventory at the moment. There’s only 2 single family homes on the market in Dewey, one fee simple and one on leased land. We only have three condos and one Surf Club unit on the market. We have three single family homes available in Ann Acres, one in Indian Beach, one in Dodds Addition and a few new construction homes at Even Tide Lane. This is a bare bones inventory for our strongest selling season of the year. I’m fresh out of inventory in Dewey and desperately need some, so thinking of listing for the Spring selling season, please contact me for a free no pressure market analysis. 

     Many of the summer shorebirds are arriving after a long migration from South America. Hummingbirds should arrive in the next week or two. Area waters are starting to warm up after a long brutal winter. Summer fish are starting to get caught along with crabs!! The beaches are now warm enough to spend the day relaxing. It’s a great time to be a local! Wishing you and your family a happy and safe Easter holiday!!

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Dewey Market Watch 2/6/26 thru 2/18/26

The Dewey market is on fire. There’s five new listings within the past week and a half and three pending contracts. January was an excellent month for transactions and it appears that February is even going to be better. The two new listings at 112 Swedes and the single family home on Dodd Ave. increases our availability to a total of five (Dewey) fee simple homes and one leased land single family. If you add in the six new construction homes at Even Tide by Evergreen homes just off of Terrace Rd it will bring the total inventory of fee simple homes to nine listings. The three new condo listings consists of one ocean front Bermuda Sea Mist unit, one ocean block unit at 27 New Orleans St and one ocean block leased land condo in Mariners Surfside. This brings the total to seven condo listings, five being fee simple and two leased land units.  Inventory is picking up fast and so are the sales. Three sales in a week and a half is pretty solid for this time of the year. The interest rates remain the same in the upper 5’s to 6%. I’m expecting a record breaking spring selling season. It’s an excellent time to list your home in a very active market! Please contact me for a free market analysis. Warming days, longer daylight hours and the return of all of our migrating fish and birds indicate that spring is now upon us!!!!!

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Dewey Market Watch 1/7/26 thru 2/5/26

Artic temperatures freeze Rehoboth and Indian River bays and there’s another artic plunge in the forecast! I would expect the market to be dead right now with all of the snow and ice here and much more accumulation in the northern and western states of us. Typically travel is difficult and there’s usually a lull in activity but that’s not the case. The market is on fire! There’s seven pending contracts for the previous three weeks which is comparable to the spring selling season. I’ve had multiple offers in my last three listings. The rates are hovering around 6% and rumors are still hinting towards future rate drops. All indications are pointing towards a very good market in 2026. The sale of the seven transactions reduced our present inventory in half leaving us only 7-8 resale listings on the market. Evergreen homes is offering six new construction single family homes just north of Dewey off of Anna B St.. Numerous other new construction projects are on menu. If you couple in that the economy is strong, interest rates are good and hopefully even getting better, available new construction and resale, how could 2026 not be a banner year? Expect a banner year!!!

******owners, please double check on all of your properties. Tonight’s low is 12, Saturday night has a low of seven degrees, and Sunday night is eight. 50-60 MPH winds on Saturday is going to create a wind chill factor of -15 to -20 degrees below zero! Plumbing has been freezing inside and outside of the homes. NEIGFHBORS LOOK OUT FOR EACH OTHER. Take shelter and drink accordingly:):)

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Dewey Market Watch 11/7/25 thru thru 1/6/26

Happy New Year!!!! I hope everyone had an enjoyable holiday season:) The holidays are beyond us and the daylight hours are now increasing which means one thing, spring is right around the corner:):) I’m very excited to see what 2026  has to offer. The 2025 selling season was very good and hopefully 2026 will even be better! Here’s a glimpse of our market for the last two months. Activity is the slowest during the holiday season thus the minimal transactions. Most of the closings were due to the very active market that occurred in October. The interest rates remain the same since my last update. The rate for a 30 year fixed is hovering around 6.125% and slightly higher for 2nd home/investors. The Feds are set to meet again I think by the end of this month. I’m hopeful that we’ll see several rate drops during the course of the year and I do expect the 2026 season to be very strong! Due to the sales volume in October, inventory remains critically low. Presently there’s only two single family homes (fee simple) in Dewey and one on leased land in Rehoboth By The Sea. Ann Acres and Dodds Addition each have one single family home listing. The condo market which is the strongest area of our market only has five listings in Dewey and two fractional shares  units in the Surf Club. We’re heading towards the Spring selling season! Thinking of possibly selling? Now would be an excellent time to receive a no pressure market analysis to determine your value for the upcoming spring selling season. Please don’t hesitate to call my cell 302-381-5602 with any of your real estate questions. You’d think that I’d be whining about the freezing temperatures but are you ready? Temps are going to be in the mid sixties for the weekend, maybe a little rain but I’ll take it:) Think spring!!!

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Dewey Market Watch 10/3/25 thru 11/6/25

Welcome to autumn! Can you believe it’s almost Thanksgiving? The market has been brisk as expected. I’ve been overwhelmed with sellers and buyers since the end of summer. The three recent interest rate drops surely fueled the market. There were four single family sales this past month. Three of the homes were on leased land in Rehoboth By The Sea and one fee simple home in Ann Acres. There were also seven condo sales that boosted the pending transactions up to 11. Condos have always out sold single family homes and here’s the proof! Look at the number of new single family homes listings that total seven! Six of the new listings are fee simple and only one is a leased land product. I just listed 38183 Terrace Rd. and had four showings on the 1st day.  The new listings boosts our autumn inventory. We now have wide variety of inventory in Dewey, Silver Lake Manor, RBTS, Ann Acres and two in highly sought after Seabreeze Dev. There’s a total of 10 single family homes, five condos and 2 quarterly fractional shares units in the Surf Club that are presently on the market. That’s not a bad inventory after the rash of pending contracts in the last month. The interest rates have dropped for a third straight time but a little seesawing eased it back up a little. The rates for a 30 year primary are approx. 6% and a 2nd home/investor approx. quarter to a half percent higher. Hopefully the market will remain active right through the holidays with the recent rate drops. Even with the autumn’s first freeze warning next week it’s not enough to cool this market down:):) Better get those beach walks in now before old man winter arrives!

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Dewey Market Watch 9/9/25 thru 10/2/25

Summer’s over but the autumn season is heating up! The much anticipated autumn inventory is in full swing. There’s been seven new listings in the short three week period! The new inventory consists of three new single family homes, three condos and one fractional share Surf Club. We’ve only seen three contracts ratified within the three week timeframe. I expect the inventory to considerably increase in the weeks ahead. I also believe that there’s going to be a lot of activity coming in from the buyer’s side. Interest rate dropped for the 2nd time Presently the rate are 30 year fixed (20% down) 6.375%, 30 year fixed (10% down) 6.125%, 30 year fixed FHA 5.625% and a 30 year fixed VA is currently 5.750%. That’s a considerable drop from the 7-7.5% we’ve been experiencing lately. Rumors of two more price drops in the very near future but I’ll believe it when I see it! The inventory in Dewey and the surrounding communities consist of six (fee simple) single family homes, three (leased land) single family homes, nine condos and two fractional shares Surf Club units. That’s 20 properties that are presently listed. Let’s be honest, we haven’t seen this much inventory in quite a long time. The rates have dropped with rumors of more in the future. I’d have to guess that we’ll have an very active market possibly right through the holidays! It’s an excellent time to list! You may be surprised at the value of your home in today’s present market. Please contact me for a free market analysis:) 

We were spared from side by side double hurricanes but the sea is still angry. After every hurricane follows with incredibly calm weather. The forecast for this weekend is gorgeous and low to mid eighties for all of next week!! Get out and enjoy!!!

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Dewey Market Watch 7/30/25 thru 9/8/25

Where did the summer go? The autumn season is fully upon us and the autumn selling season is about to flourish. Market activity (selling) has been on the slow side. The autumn inventory just got a boost with six new listings. Presently our inventory includes 17 listings. There’s four single family (fee simple), two single family (Reho. By The Sea), seven condo/townhomes (fee simple) and one condo in Seastrand (leased land). That’s a pretty decent inventory for this early in the autumn season. I expect more new listings in the weeks ahead after the heavy summer rental season nears to an end. The summer selling season was VERY , VERY slow but we’re on the rebound and looking much better going into the autumn season. The interest rates dropped a little even though the feds didn’t reduce the rates.  The new rate is hovering around 6.5% for a 30 year fixed primary and slightly higher for 2nd home/investors. The strong rumor is that we’re going to get the fed drop on Sept.17th. I’ll believe it when I see it:) If we get the rate drop, that’ll be the 2nd recent rate drop in a row and it surely will spur activity. I was getting minimal showings with my eight listings over the summer, even with a heavy advertising campaign. ALL of my listings are starting to see regularly scheduled showings. Personally, I thin k that it’s going to be a very good to excellent autumn selling season.

     It was a full moon last night! Many of the migrating shorebirds, hummingbirds left for their winter’s vacation  somewhere where it’s tropical and warm! So did the tourists!!!! You can actually drive around on Ocean Hwy again! The beaches are vacant and the weather still 80 degrees, I’d say that’s local time!! Get out and enjoy Delmarva:)

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Dewey Market Watch 7/1/25 thru 7/29/25

Summer’s in full gear now! Temps in the low 90’s with plenty of sunshine with plenty of smiles! The market has been very slow which is typical for this time of the year. I believe that the market is going to pick up. We’re nearing the end of summer rentals so I’m expecting inventory to increase in the weeks ahead. Everyone has been asking about the rate drop. Rumor is now we won’t see one. Even if the feds dropped the rate it doesn’t necessarily drop the mortgage rates, however any rate drop should spur the economy which hopefully would trickle into our market. The interest rate for a 30 year fixed is hovering at 6.875% and in the low 7’s for a 2nd home/investor. It’s really the same story as my last update. Property showings are well, well below last years stats especially the last 4-5 months, resulting in longer days on the market and many price reductions. Inventory is low. Presently there’s five single family (fee simple) homes and two homes on leased lands in RBTS. The condo market which is typically the backbone of the market only has three units listed and three quarterly fractional share units in the Surf Club. There’s no reason for panic! We’re right at the height of the summer, tourist and locals are just simply enjoying the beach. Inventory should increase in the weeks ahead and hopefully we’ll have a nice autumn selling season. We’re needing some inventory and rental incomes are 2/3 realized. Are you considering listing in the fall? Please contact me for an updated analysis. Get out and soak up some of that beautiful sunshine and ocean water! Have a safe summer!!

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Dewey Market Watch 5/1/25 thru 6/30/25

     Happy summer everyone! Talk about a heat wave. Temps reaching 100+ degrees last week! Where have I been? I’ve been awol and haven’t updated in the last couple of months. What have I been doing? Non stop listing appointments. The market has changed dramatically in the last three months and it’s now clearly a buyer’s market. I’ve been on so many listing appointments that it’s hard to count them all. I went from two listing to seven listings with three more in the works. I have three pocket listings consisting of a 4bd/4.5ba condo (one lot off of beach) with gorgeous ocean views that’ll never change. All four of the bedrooms are owner suites with full baths. This unit could surely be a rental machine. The asking price will be in the area of $1.9M. My 2nd pocket listing is a 3bd/2ba, 2,250 sq’ in Silver Lake Manor. Many possibilities for expansion within the present foot print. The asking price will be between $1.2M – $1.3M. The 3rd pocket listing is a 2bd/1ba ocean block in North Dewey. Nicely updated and only steps to the beach. Price undecided. Please contact me directly for more information regarding these pocket listings.

     Remember when the Dewey area inventory fell to zero listings??? Not the case anymore! It appears that the tariffs and the drop in the stock market has slowed the immediate market. Yes the stocks have rebounded… but the unknown is still in people’s minds. I actually was working with several buyers and they put looking on hold for a while just to see how things work out, so this is first hand knowledge. Couple this with the fact that we had to be at the height of the market that started after Covid so we were bound to taper off eventually. Key word is taper off not crash! The days on the market are surely longer, price reductions are the new norm. Thinking of listing? Now is not the time to try the market. It’s best to price your home very accurately to get a positive result.

      The inventory remains a little on the lean side. Presently there’s five single family homes (fee simple) and two single family homes on leased lands (RBTS). The condo market is rounded out with three condos (fee simple), two condos on leased land (Seastrand) and three fractional share units in the Surf Club. The mortgage interest rates remain the same, anywhere from the mid 6% to the mid 7% depending on what type of mortgage you’re applying for. There’s all kinds of rumors in the air about a rate adjustment so that’s something worth watching closely. The primary markets are still very active, it’s the 2nd home/investor market that show signs of slowing and that’s to be expected in an area that 2nd home buyer/investor have some form of connection to the stock market. Days of homes flying off of the shelf must be met with pricing a property very accurately for a sale in a very reasonable amount of time. Thinking of listing now or after summer rental incomes have been realized? Please contact me for a free up to date market analysis. Have a safe and happy summer!!!

I have a new listing at 107 Swedes St. This fee simple single family home shows like a gem in the rough! The 5bd/3.5 ba, 2,600 sq’ home features a full size roof top deck that boasts some of the best sunset views that our state has to offer. Parking for eight will accommodate large family/rental gatherings. Meticulously cared for and never rented. Very tastefully fully furnished. Fishing for an investment? Don’t let this big one get away!!!

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