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Weekly Market Report for Delmarva for October 18, 2023

Ryan Haley returns with the Delmarva real estate market update for October 18, 2023.

A full video transcript follows. 

I’d like to kind of compare where we were last week to where we are this week. This is something I’m going to incorporate into these reports just to try to give you a little bit of context as to where things might be going. 

Worcester County, Maryland, Real Estate Market Update

Starting off here in Worcester County, Maryland. In the last 7 days, we had 63 new listings come on the market, while we had 55 that went under contract in that period of time. Rewind a week prior, and we had 66 actives and 58 go under contracts. So very similar numbers there, almost exactly the same, which is very interesting here.

As far as countywide, 426 coming soon and/or actives here in the county, while we had 171 go under contract in the last 30 days. That gives us a 2.5-month supply in Worcester County, Maryland. 

Sussex County, Delaware, Real Estate Market Update

Going over to Sussex County, Delaware. In the last 7 days, we had 162 new listings, while we had 156 go under contract. So we added a little bit of inventory there. Last week, we had 168 new listings, and we had 156 go under contract, exact same number as what we have this week. So, very consistent there.

There were 1,450 total properties for sale in Sussex County, Delaware, while we had 477 going under contract here in the last 30 days. That gives us 3 months, exactly 3 months supply in Sussex County.

Wicomico County, Maryland, Real Estate Market Update

Wicomico County, coming back onto the Maryland side here. In the last seven days, we had 32 properties go under contract while we had, actually, I take that back, 32 new listings while we had 30 go under contract. So, very balanced there. The week prior, we had 38 new listings and 27 go under contract in that period. 165 total actives in Wicomico County, and 94 going under contract in the last 30 days. That gives us a 1.8-month supply.

What do we have going on here in Ocean City? Well, the way the town calendar has gone, they moved back SunFest. So, this is SunFest weekend coming up here in Ocean City. So we’re hoping for some great weather, hoping to have a lot of people in town. 

If you have any interest in looking at any real estate during that period of time or would like to know where your value is in your home, myself and our agents here, we would love to help you in any way that we can.

So, thanks again for tuning in. We’ll see you next time for another real estate market report.

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