The 2022 summer season has come to an end and autumn is upon us. The market remains stable in the Dewey and surrounding communities. Properties are still selling but the madness is over. The “days on the market” is longer. Home inspections are returning and the 15+ contracts on a listing is no longer although occasionally there’s still multiple offers on an exciting property. The increasing interest rates are to blame. You might want to sit down for this! The interest on a 30 year primary home is 7 1/8%. You can pay two points to get it down to 6 1/2%. The interest on a 2nd home is 7 1/8 and two points. Jumbo rates for a primary home with a minimum of $741K borrowing amount is 7 1/2%. Jumbo rates for a 2nd home is 7.625%. That’ll slow the market but not stop it. Rental incomes have been off the charts and still are attractive to savvy investors. Surely the market is in for a change.
I have two new exciting listings that are very unique. The 1st listing is a three season 2bd/1ba in the ocean block of Collins. The unit has been tastefully upgraded. The seller is offering to hold the note for 4%, amortized over 30 years with a balloon in 10 years. That’s an unbelievable savings. Please click on the link below for more info! My 2nd listing is 104 Dover Rd. #2. This 4bd/2ba, 1,800 sq’ is half of a duplex. The feature of this property is that you own the land unlike the common areas usually associated with a townhome. There is no HOA or HOA fees. The flood insurance is $2,250 per year and each owner maintains their own home. Please click on the link below for more info.
Inventory remains low for single family homes. Presently there’s only three fee simple homes and one home on leased land. There’s one single family home in Ann Acres and one in Poynters Addition. The condo inventory has increased to six active listings and there’s one quarterly fractional share in the Surf Club. That rounds out the inventory. I expect the inventory to increase in the months ahead, we’ll see!! Everyone have a safe and enjoyable autumn season:):)
SINGLE FAMILY PENDING |
LOCATION |
SIZE |
ASKING PRICE |
108 Carolina St. 50 yr lease @ $17,717 yr |
Rehoboth By The Sea |
5bd/3ba |
$1,850,000 |
112 St. Louis St. |
Rehoboth By The Sea |
3bd/2ba 1,344 sq’ |
$1,200,000 |
205 Carolina St. 60 yr lease @ $28K yr |
Rehoboth By The Sea |
3bd/1ba 1,750 sq’ |
$985,000 |
38338 William F St. |
Dodds Addition |
5bd/4ba 2,350 sq’ |
$1,400,000 |
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 |
N/A |
N/A |
N/A |
N/A |
N/A |
Hello Everyone! Happy summer to all:) The summer’s going way too fast and needs to slow down a little:) The market remains slow only due to very little inventory. In the town limits of Dewey there are two condos, four single family homes, one single family on leased land and one Surf Club unit (quarterly fractional share) on the market. There’s one single family home in Ann Acres, one single family home in Poynters Addition and one lot in Indian Beach. There’s nothing available in the Forgotten Mile. You can’t sell it if you don’t have it!! There were two pending contracts for single family homes and two condo sales in the previous 3.5 weeks. Closing prices are still close to asking price. The bad news for all of us is that the prime just went up .750%. The good news is that the mortgage rates actually dropped a little. The interest rate for a 30 year fixed is hovering around 5.5% and a 30 year jumbo is approx. 4.750%. Perhaps we’ll see a few new listings once the summer comes to an end and owners have realized most of their rental incomes. Are you thinking of listing in the autumn? Call me for a free “no pressure” market analysis that will educate you on your home’s value in today’s present market. Act fast while the rates are still reasonable!!! Stay safe and enjoy the remainder of the summer!!
SINGLE FAMILY CLOSED |
LOCATION |
SIZE |
ASKING PRICE |
CLOSED PRICE |
115 Clayton St. |
Rehoboth By The Sea |
6bd/2ba 2,100sq’ |
$1,675,000 |
$1,650,000 |
307 Swedes St. |
Seabreeze Dev |
3bd/1ba 1,650sq’ |
$800,000 |
$800,000 |
SINGLE FAMILY INCREASE/DECREASE |
LOCATION |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
20 St. Louis St. |
Rehoboth By The Sea |
4bd/2ba 7,405sq’ lot |
$3,795,000 |
$3,525,000 |
CONDOS PENDING |
BUILDING |
SIZE |
ASKING PRICE |
8 Swedes St. |
8A Mariners Surfside |
2bd/1ba |
$449,000 |
105 Dagsworthy St. |
#C Rainbow Cove |
3bd/2ba 944 sq’ |
$599,000 |
CONDOS INCREASE/DECREASE |
BUILDING |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
N/A |
N/A |
N/A |
N/A |
N/A |
LOTS/LAND |
LOCATION |
SIZE |
ASKING PRICE |
LOT 26 North Pepper Ave. |
Indian Beach |
90 X 82.5 7,425 sq’ |
$2,595,000 |
Happy summer!!! It’s good to be back on my feet:) I missed the first six weeks of summer after catching covid on Memorial weekend. No fun but back to enjoying this gorgeous summer:) Due to my covid this market watch is for the previous seven weeks. There hasn’t been a lot of activity due to the minimal amount of listings (same old story). Values appear to be holding steady and then some. The four closings for single family homes realized one listing selling for full asking price and the three remaining closings all closed ABOVE asking price. The condo market also has three closings over the asking price and one unit sold for full price. That’s some pretty strong statistics. The interest rates have been fluctuating on a daily basis. The interest rates breached at slightly over 6% for a short time but since then have come back down to 5.375%. The market remains strong in the immediate resort areas. Rental incomes have been on the rise thus keeping investors and 2nd home buyers in the market. That’s not the case in all of the area markets. I just reviewed the 3 day holiday hot sheet. There were 28 price reductions in Sussex, something we haven’t seen in some time.
Please use extreme caution when driving or walking through Dewey! MANY drivers are still oblivious to the flashing yellow lights and the crosswalks. Walking? Look three times and cross with extreme caution, don’t expect everyone to stop! Patience, patience everyone. Businesses are still short staffed so everyone needs to have a little patience and be respectful to those who are working. Grab a drink or two or three and enjoy the summer and everything that Dewey has to offer:):)
SINGLE FAMILY NEW |
LOCATION |
SIZE |
ASKING PRICE |
21 St. Louis St. 55 year lease @ $28K yr. |
Rehoboth By The Sea |
5bd/3ba |
$1,642,150 |
13 Bellevue St. |
Rehoboth By The Sea |
6bd/5.5ba 4,700 sq’ |
$4,199,000 |
20 St. Louis St. |
Rehoboth By The Sea |
4bd/2ba 1,508 sq’, 7,405 sq’ lot |
$3,795,000 |
205 Carolina Ave. 60 year lease @ $28K yr. |
Rehoboth By The Sea |
3bd/1ba 1,750 sq’ |
$1,200,000 |
SINGLE FAMILY PENDING |
LOCATION |
SIZE |
ASKING PRICE |
115 Clayton St. |
Rehoboth By The Sea |
6bd/2ba 2,100 sq’ |
$1,675,000 |
20920 South Ave. |
Poynters Addition |
6bd/4ba 2,288 sq’ |
$1,180,000 |
SINGLE FAMILY CLOSED |
LOCATION |
SIZE |
ASKING PRICE |
CLOSED PRICE |
121 Cullen St. 54 year lease @ $18,350 yr. |
Rehoboth By The Sea |
3bd/1.5 ba 1,450 sq’ |
$1,249,000 |
$1,250,000 |
38292 Blackstone Ave. |
Silver Lake Manor |
5bd/3.5ba 2,421 sq’ |
$1,899,900 |
$2,000,000 |
11 West St. |
Rehoboth By The Sea |
3bd/1ba |
$2,400,000 |
$2,500,000 |
15 Bedford Ave. |
Indian Beach |
4bd/2.5ba |
$2,650,000 |
$2,650,000 |
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 |
23 Houston St. |
#1 Ocean View 2 |
2bd/1ba |
$600,000 |
CONDOS CLOSED |
BUILDING |
SIZE |
ASKING PRICE |
CLOSED PRICE |
1 Swedes St. |
#4 Beachcomber |
2bd/1.5ba 760 sq’ |
$869,000 |
$819,000 |
26 Van Dyke St. |
#D Van Dyke Villas |
4bd/3.5ba 1,900 sq’ |
$995,000 |
$1,000,000 |
38172 Robinson Dr. |
#10 Robinson Square |
2bd/2.5ba 950 sq’ |
$499,000 |
$520,000 |
38399 F Benson St. |
#19B Benson Place |
3bd/1.5ba |
$699,900 |
$751,000 |
3 Collins Ave |
#B Sea Mist |
4bd/2.5ba 1,875 sq’ |
$2,100,000 |
$1,925,000 |
2009 Bayard Ave. |
#108 Cajun Cove |
2bd/2.5ba 1,296 sq’ |
$799,000 |
$799,000 |
1701 Coastal Hwy. |
#N301 Opal |
1bd/2ba 821 sq’ |
$450,000 |
$413,000 |
CONDOS INCREASE/DECREASE |
BUILDING |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
105 Dagsworthy St. |
#C Rainbow Cove |
3bd/2ba 944 sq’ |
$639,900 |
$625,000 |
COMMERCIAL |
BUSINESS |
SIZE |
ASKING PRICE |
CLOSED PRICE |
2206 Coastal Hwy. |
Colliers canvas repair 1st fl |
2bd/2ba apt 2nd fl |
$1,950,000 |
pending |
1205 Coastal Hwy |
formerly Mez Cali 1st fl |
2bd/2ba apt 2nd fl |
$1,300,000 |
$1,150,000 |
We have sun!! What a nor ‘eastern! Wind gusts up to 72mph! There was a lot of beach erosion but not to worry, the summer ocean currents will bring it back naturally and all will be good! What a month in real estate. I believe that we’re at the very top of the market and things are about to change. I sold a home to my nephew in Feb. and his rate was 3.50%. The rates in May have been hovering between 5.50% up to 5.875% with rumors of up to another half dozen increases this year to help stop the inflation. Properties are still selling and our present market is still strong. What I am noticing is price reductions throughout the area, longer days on the market, contracts with contingencies and home inspections again. Speaking with Realtor friends from the north and west of our state, they realized a bit of a slow down and similar market changes about four months ago. We are a resort niche! Our market is so different than the surrounding areas because so many of our properties are bought as investments accompanied with strong rental incomes. The rising interest rates might slow our market a bit but will not stop it. I expect many owners who were sitting on the fence (to list) as prices continued to rise will hopefully list their homes and increase our inventory. I think that this will happen during the course of the year. The 11 pending contracts in a one month period is still way above pre covid statistics. Please call me if you’d like a value on your home for possible listing consideration.
The summer season is fully upon us. Life is good, let’s keep it that way. The town of Dewey installed posts with a nice nautical rope connecting them all, this was done to reduce the possibility of an pedestrian accident. PLEASE use all of the designated crossovers and I’d suggest hitting the flashing light button before you cross. PLEASE exercise extreme caution while driving in all of our resort towns. Happy summer!!!!
SINGLE FAMILY NEW |
LOCATION |
SIZE |
ASKING PRICE |
115 Clayton St. |
Rehoboth By The Sea |
6bd/2ba 2,100 sq’ |
$1,675,000 |
20937 Ann Ave. |
Ann Acres |
2bd/1ba commercial/residential |
$995,000 |
SINGLE FAMILY PENDING |
LOCATION |
SIZE |
ASKING PRICE |
121 Cullen St. |
Rehoboth By The Sea |
3bd/1.5ba 1,450 sq’ |
$1,249,000 |
11 West St. |
Rehoboth By The Sea |
3bd/1ba |
$2,400,000 |
38175 Terrace Rd. |
Silver Lake Manor |
5bd/3.5ba 2,556 sq’ |
$1,600,000 |
121 Cullen St. 54 year lease @ $18,350 yr. |
Rehoboth By The Sea |
3bd/1.5ba 1,450 sq’ |
$1,249,000 |
15 Bedford Ave. |
Indian Beach |
4bd/2.5ba |
$2,650,000 |
SINGLE FAMILY INCREASE/DECREASE |
LOCATION |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
38175 Terrace Rd. |
Silver Lake Manor |
5bd/3.5ba 2,556 sq’ |
$1,650,000 |
$1,600,000 |
CONDOS CLOSED |
BUILDING |
SIZE |
ASKING PRICE |
CLOSED PRICE |
26 McKinley Ave. |
#9 Seabreeze Village |
4bd/3.5ba |
$965,000 |
$890,000 |
20909 Coastal Highway |
3bd/2.5ba |
3bd/2.5ba |
$587,000 |
$575,000 |
1 Read Ave. quarterly fractional share |
#113 C Surf Club |
0bd/1ba |
$64,900 |
$60,000 |
105 Bayside Ct. |
#8 Bayside Ct |
3bd/3ba |
$799,000 |
$846,000 |
23 Rodney Ave. |
Rodney Street Condos |
2bd/1ba |
$575,000 |
$599,000 |
18 West St. |
Guthrie IV |
2bd/1ba |
$699,000 |
$625,000 |
COMMERCIAL |
BUSINESS |
SIZE |
ASKING PRICE |
CLOSING PRICE |
20968 Coastal Highway |
formerly Lorraine’s |
100 X 100 double lot |
$1,395,000 |
$987,500 |
Happy springtime!! It’s 75 glorious degrees at this typing:):) Spring has sprung!! Dewey and the entire resort area is open and in full gear! The market continues to sizzle. In most cases agents are giving an actual date for contracts to be entertained thus allowing enough time for the general public to view the property before it’s gone by the 1st weekend from listing. Presently there’s five condos listed in Dewey. There’s 3 single family homes available in Dewey, one in Silver Lake Manor and one in Ann Acres. Also included in the inventory are four quarterly fractional share units in the Surf Club. The interest rates have been going up and down and are presently at 5% for a 30 year fixed and 4.250% for a jumbo. The rumors are that they’re going to continue to go up but we’ll have to wait and see. The 5% is actually still a very good rate:) Are you considering listing your home? I’d be more than happy to provide you a free market analysis based off of recent closing prices. Thinking of buying a home in this hostile market? Buyers must be educated and prepared to write a contract within a day or two of the listing or you’ll probably loses out. Please contact me for an education of your areas of desire. Happy spring! I think I’m shedding my shoes and going for a beach walk:):)
SINGLE FAMILY NEW |
LOCATION |
SIZE |
ASKING PRICE |
13 New Orleans St. |
unit A Green By Way |
2bd/1.5ba 1,200 sq’ |
$1,200,000 |
SINGLE FAMILY CLOSED |
LOCATION |
SIZE |
ASKING PRICE |
CLOSED PRICE |
18 Hazlett St. |
Indian Beach |
5bd/5ba 3,320 sq’ |
$2,599,900 |
$2,599,900 |
38312 James A St. |
Dodds Addition |
4bd/4ba 2,324 sq’ |
$1,150,000 |
$1,119,000 |
1502 Coastal Hwy. |
Dewey |
3bd/1ba |
$930,000 |
$850,000 |
SINGLE FAMILY INCREASE/DECREASE |
LOCATION |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
38189 Terrace Rd. |
Silver Lake Manor |
2bd/2ba 1,152 sq’ |
$1,384,900 |
$1,379,000 |
121 Cullen St. 54 year lease @ $18,50 yr |
Rehoboth By The Sea |
3bd/1.5ba 1,450 sq’ |
$1,300,000 |
$1,295,000 |
CONDOS INCREASE/DECREASE |
BUILDING |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
N/A |
N/A |
N/A |
N/A |
N/A |
Happy Friday!! Happy spring!! Daylight savings time kicks in this weekend!! St. Patty’s is here and the 2022 season is officially kicking in:):)The lack of inventory continues to plague the market. Supply and demand dictate any market so with that being said appreciation is still occurring in the resort area. The interest rates continue to rise but are still at excellent rates at 4% for a fixed 30 year and 3.50% for a jumbo. They’re still incredible rates and shouldn’t slow our market. I’m preparing my 1st year to date comparison to last years activity for the same time period and I expect the number of transactions to be lower due to the lack of inventory. We have four new listings recently added to our inventory. Who would have ever thought that leased land properties would breach $1M in such a short period of time? 121 Cullen & 102 Jersey are two gorgeously renovated cottages that are asking $1.3M & $1.350,000. There is a 50 X 100 leased land lot that has a pending contract in two days with an asking price of $1M. The 3rd new listing is my listing at 18 West St. unit B in the Guthrie. This est. 900 sq’ unit has been remodeled with new Trane HVAC, windows, flooring, ss appliances and the list goes on and on. Click on the address below for full information. Won’t last long. The final new listing is an oceanfront unit in the Beachcomber on Swedes St. There are no oceanfront units available just about everywhere in the resorts so this unit will sell super fast.
Spring has sprung! Get outside and enjoy the many activities that our resorts have to offer!!!
SINGLE FAMILY PENDING |
LOCATION |
SIZE |
ASKING PRICE |
38312 James A St. |
Dodds Addition |
4bd/4ba 2,324 sq’ |
$1,150,000 |
18 Hazlett St. |
Indian Beach |
5bd/5ba 3,320 sq’ |
$2,599,900 |
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 NEW |
BUILDING |
SIZE |
ASKING PRICE |
18 West St. |
# B Guthrie iv |
2bd/1ba |
$695,000 |
1 Swedes St. |
#4 Beachcomber |
2bd/1.5ba 720 sq’ |
$894,900 |
CONDOS CLOSED |
BUILDING |
SIZE |
ASKING PRICE |
CLOSED PRICE |
1609 Coastal Hwy. |
# s202 Opal |
2bd/2ba 975 sq’ |
$580,000 |
$580,000 |
26 Van Dyke St. |
#A Van Dyke Villas |
4bd/3ba 1,856 sq’ |
$1,200,000 |
$1,100,000 |
1701 Coastal Hwy. |
#305 Marina View |
2bd/2ba 925 sq’ |
$550,000 |
$550,000 |
1 Swedes St. |
#8 Beachcomber |
2bd/1ba 720 sq’ |
$729,900 |
$660,000 |
It’s coastal living at it’s finest! We received the 2nd winter coastal storm of the season. There was 12 inches of the fluffy white only to be gone in 3-4 days:) It was 62 degrees yesterday and in the 60’s today and tomorrow before we receive yet another 2-3 inches on Sunday. Coastal living!! There were two new listings this month. 18 Hazlett in Indian Beach is the only single family home presently being offered for sale. The 2004 5bd/5ba, 3,320 sq’ home is being offered at $2,599,900. The 2nd new listing is the old Lorraine’s hair salon just north of Dewey On Coastal & Ann St. The double commercial 1 lots borders my single family 2bd/2ba/zoned commercial 1. The three lot commercial availability offers many, many possibilities. All three lots fall under Sussex County zoning because they’re outside of Dewey town limits. There were four pending contracts in the condo market for the last month. Presently there’s only one condo for sale in Dewey, one home in Silver Lake Manor, one single family home in Dewey, one home in Indian Beach and the two properties previously mentioned. The interest rates are on the rise again. The interest rate rose to 3.825% for a 30 year fixed and a jumbo loan will now cost you 3.50%.
Just for the record! 119 Jersey was the house that burnt down. They just offered it for sale for $1M with a 60 year lease at $16,200 per year. It sold within a day or two as the contract was being shuffled around. It looks like we’ll have a new land value in Rehoboth By The Sea! Those of you that had automated searches set up received the new listing, those that weren’t lost out. This is the benefit of having auto searches set up for you so that you don’t miss out. Please contact me if you’d like a search set up for you:)
The new island barriers that are presently being installed are similar to those being used in Ocean City MD that will force pedestrians to use the crosswalks. Walking and driving can be very dangerous and caution should be observed by everyone. I actually witnessed at least a half a dozen incidents where the drivers totally disregarded the big white lines at each crossover and the bright flashing lights as people are crossing over. There are some drivers that drive as if they had blinders on like a race horse. Gotta take precaution! Only five weeks until spring!! Wooo Hoooo!!!!
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 |
38189 Terrace Rd. |
Silver Lake Manor |
2bd/2ba 1,152 sq’ lot 5,663 |
$1,385,000 |
$1,384,900 |
CONDOS NEW |
BUILDING |
SIZE |
ASKING PRICE |
N/A |
N/A |
N/A |
N/A |
CONDOS INCREASE/DECREASE |
BUILDING |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
26 McKinley Ave. |
#9 Seabreeze Village |
4bd/3.5ba |
$995,000 |
$965,000 |
38372 F Benson St. |
#1 |
2bd/2ba |
$229,900 |
$219,900 |
COMMERCIAL (all listings) |
BUSINESS |
SIZE |
ASKING PRICE |
20968 Coastal Hwy. |
previously Lorraine’s Hair salon |
100 X 100 commercial lot |
$1,395,000 |
Rt 1 & Old Bay Rd. |
zoned commercial 1 |
.86 ac |
$1,267,000 |
20937 Ann Ave. |
single family zoned commercial 1 |
50 x 100 |
$1,049,000 |
1205 Coastal Hwy. #300 |
Mez Cali |
2,700 sq’, restaurant & 2bd/2ba |
$1,300,000 |
Happy New Years!!!! Life is good:) We had the pleasure of a winter coastal storm and received between 12″ to 14″ of snow. The brilliant uv rays and warm afternoon temps had it gone in a couple of days, just the way I like it! The daylight hours are increasing daily and spring is right around the corner. Market activity (1 month) has been minimal, partly due to the holidays and mostly due to minimal inventory. Interest rates have increased with the new year. The interest rate for a 30 year fixed has risen to 3.5% and a 30 year fixed jumbo loan is now 3.250%. Presently there’s only 2 single family homes available, four condos and four Surf Club units (fractional shares-1 week per month x 12). The rental inventory is also critically low or non excitant. I personally do not participate in rentals only sales but all four of our office’s do. Thinking of renting? You may be surprised at the rental incomes. Please call for a free quote. Think spring, stay healthy!!!
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 |
CLOSING PRICE |
1301 Coastal Hwy. |
#402 Lighthouse Cove |
3bd/3ba 1,574 sq’ |
$1,449,900 |
$1,395,000 |
1 Read Ave. 1/4 fractional share |
#208 A Surf Club (you own 1 week a month X 12) |
0bd/1ba 480 sq’ |
$89,000 |
$86,000 |
CONDOS INCREASE/DECREASE |
BUILDING |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
N/A |
N/A |
N/A |
N/A |
N/A |
Happy Holidays to everyone! I hope that everyone had and enjoyable Thanksgiving holiday. We’re right in the thick of the holidays. Transactions have been at a minimal not due to the holidays but rather the low, low inventory. Presently in Dewey there’s only 2 single family homes, 3 condos and 3 Surf Club (quarterly fractional shares- 1 week per month). There’s only one single family/commercial in Ann Acres and a single condo on F Benson St. in Dodds Addition. That’s the entire inventory!
The only two new listings since my last newsletter five weeks ago are mine. The 1st listing is directly behind the old Lorraines hair salon on Ann Ave. This cute 2 bed/ 1 bath classic beach cottage rests on a 50 X 100 lot that is zoned commercial/residential. The parcel is located four and a half blocks to the ocean and a few streets just outside of Dewey town limits. The property is under the jurisdiction of Sussex County which offers a number of possibilities with the unique zoning of commercial/residential. This location offers walk to “everything” that Dewey Beach has to offer. Take a walk or bike into Rehoboth and enjoy the gorgeous views of Silver Lake along the way.
My 2nd new listing is a unit in the Surf Club. Gorgeous ocean views!!! You own a quarterly fractional share (one week per month) for mere pennies. This is a totally managed property. HOA includes EVERYTHING and when I say everything I mean everything to include water, sewer, taxes, internet, cable tv, custodial services, electric, heat, air conditioning, furniture, tableware…. This efficiency comes equipped with a king size bed, foldout queen sofa, microwave, cooktop, refrigerator/freezer, kitchenette, flat screened tv and a whole lot of happiness:)
Only 10 days before the days start getting longer!! Yeahhhh:) Happy holidays to everyone!! Let’s celebrate the new year with a little more love, peace and happiness!
SINGLE FAMILY NEW |
LOCATION |
SIZE |
ASKING PRICE |
20937 Ann Ave. |
Ann Acres |
2bd/1ba 50 X 100 commercial lot |
$1,049,000 |
SINGLE FAMILY CLOSED |
LOCATION |
SIZE |
ASKING PRICE |
CLOSED PRICE |
110 Clayton St. |
Rehoboth By The Sea |
5bd/3ba 2,300 sq’ |
$1,224,900 |
$1,200,000 |
131 Chesapeake St. |
Rehoboth By The Sea |
5bd/3ba 2,140 sq’ |
$1,756,125 |
$1,756,125 |
SINGLE FAMILY INCREASE/DECREASE |
LOCATION |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
17 Van Dyke St. |
# B Emerald Shoals |
4bd/3.5ba |
$1,200,000 |
$1,125,000 |
CONDOS NEW |
BUILDING |
SIZE |
ASKING PRICE |
N/A |
N/A |
N/A |
N/A |
CONDOS PENDING |
BUILDING |
SIZE |
ASKING PRICE |
1301 Coastal Hwy |
#402 Lighthouse Cove |
3bd/3ba 1,574 sq’ |
$1,499,900 |
38372 F Benson St. |
#1 Killens Addition |
2bd/1ba 1,020 sq’ |
$234,900 |
|
|
|
|
CONDOS CLOSED |
BUILDING |
SIZE |
ASKING PRICE |
CLOSED PRICE |
101 Swedes St. |
#1 Four Tides |
5 bd/4.5ba 2,600 sq’ |
$1,499,000 |
$1,475,000 |
1609 Coastal Hwy |
#403 Opal |
2bd/2ba |
$550,000 |
$550,000 |
20960 Rogers Ave. |
#4 El Capitan |
2bd/1ba |
$175,000 |
$175,000 |
1301 Coastal Hwy. |
#V453 Lighthouse Cove |
2bd/2ba 1,026 sq’ |
$899,000 |
$905,000 |
1904 Coastal Hwy. |
#D Surfrider |
3bd/2ba 1,250 sq’ |
$635,000 |
$635,000 |
CONDOS INCREASE/DECREASE |
BUILDING |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
N/A |
N/A |
N/A |
N/A |
N/A |
Happy Holidays! It’s that time of the year again. The holiday season is upon us. The daylight hours are getting much shorter, kind of like the inventory in our market:) Dewey’s entire inventory includes three single family homes on land that you own, one single family on leased land and two condos. Killens Addition, Dodds Addition, Silver Lake Manor, Ann Acres, Poynters Addition, Sea Breeze Dev and Country Manor only offer one single family home and one condo and that’s the entire inventory. Limited inventory results in low transactions thus this very small update for a 2.5 week time span. The interest rates have remained the same, a 30 year fixed is 3.125% and a jumbo loan remains at 2.750. Happy and safe holidays to all!!!
SINGLE FAMILY PENDING |
LOCATRION |
SIZE |
ASKING PRICE |
N/A |
N/A |
N/A |
N/A |
SINGLE FAMILY CLOSED |
LOCATION |
SIZE |
ASKING PRICE |
CLOSING PRICE |
22 Jersey St. |
Rehoboth By The Sea |
4bd/2ba |
$1,735,150 |
$1,790,000 |
118 Jersey St. 60 year lease @ $19K yr |
Rehoboth By The Sea |
3bd/2ba 1,350 sq’ |
$790,000 |
$780,000 |
123 Swedes St. |
Dewey Beach |
3bd/1.5ba |
$1,100,000 |
$1,060,000 |
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 |
#402 Lighthouse Cove |
3bd/3ba 1,574 sq’ |
$1,449,900 |
CONDOS CLOSED |
BUILDING |
SIZE |
ASKING PRICE |
CLOSING PRICE |
1301 Coastal Hwy. |
#462 Lighthouse Cove |
3bd/2.5ba 1,362 sq’ |
$1999,999 |
$1,888,000 |
1301 Coastal Hwy. |
#422 Lighthouse Cove |
2bd/2ba 1,077 sq’ |
$899,000 |
$899,000 |
2 McKinley Ave |
#204 Sunspot |
2bd/1ba |
$679,900 |
$715,000 |
CONDOS INCREASE/DECREASE |
BUILDING |
SIZE |
PREVIOUS PRICE |
NEW PRICE |
38372 F Benson St. |
Killens Addition |
2bd/1ba |
$239,900 |
$234,900 |