Skip To Content

Weekly Market Update for Delmarva – June 7, 2023

Ryan Haley with Atlantic Shores Sotheby’s International Realty is with the real estate market report for Delmarva for the first week of June.

This week, all three counties saw more properties sell than came on the market, so we’re out-selling what is currently coming on the market. And actually, we’ve seen that as well. 

We had a little bit of a lull, it felt like there for about two weeks. It could have coincided there with Memorial Day, kids graduating, people being busy, and then we had rates that jumped up over seven percent. Now they’ve settled back down under seven percent. People are getting into summer mode, and we’ve seen an uptick in activity. Even in our office, it’s definitely been more busy here over the last seven days.

Worcester County, Maryland Marker

So, what do the stats look like? Worcester County, Maryland. In the last seven days, we had 43 properties come on the market, while at the same time, we had 53 go under contract here in the last seven days. 

When we look county-wide, we had 301 properties active for sale, while at the same time, we had 177 sell here in the last 30 days, giving us 1.7 months’ supply in Worcester County, Maryland.

Wicomico County, Maryland Market

In Wicomico County, we had 26 new listings in the last seven days, while we had 33 go under contract in that period of time. There were 120 total active properties in Wicomico County, while we had 103 sell here in the last 30 days. That gives us 1.2 months’ supply. That’s the lowest month supply on Delmarva currently.

Sussex County, Delaware

Going just North across that Delaware line to a very large county in Sussex County, Delaware, there were 113 new listings in the last seven days, while we had 140 go under contract during that period of time. As for the total county-wide, last week we were up over 1,300. This week we’re back under that. 1,269 total active properties in Sussex County, Delaware, and we had 458 go under contract in the last 30 days, giving us 2.8 months’ supply.

Interest Rates Update

Where are our interest rates? Currently on a 30-year fixed, our average throughout the entire country is 6.89%, and it’s looking like they’re trending down a tad. 

So there you have it, that is the weekly market report here for Delmarva for the early part of June. If you like this information, please tune in again. We’re here to help in any way that we can. 

Trackback from your site.

Comments are closed.

About our blog

Our agents write often to give you the latest insights on owning a home or property in the local area.

Global Site Tag: