Ryan Haley is back with the final real estate market report here for July 2024. It is July 31st. Summer's moving right along here at the beach. 

What have we seen in the local real estate market? 

Worcester County Real Estate Market Report

Well, for the last 7 days here in Worcester County, we have actually outsold the new inventory by quite a bit as well. So, if you look, we had 49 new listings come on the market, while in the last 7 days we had 58 go under contract. That is a healthy sign that there is a lot of activity in the marketplace. Countywide, 546 total properties for sale while we are selling 166 in the last 30 days. That gives us a 3.3-month supply in Worcester County.

Wicomico County Real Estate Market Report

In Wicomico County, 34 new listings in the last 7 days while we had 29 go under contract, fairly balanced there. 212 total actives in Wicomico County while we have 95 that have gone under contract in the last 30 days. That gives us a 2.2-month supply in Wicomico County.

Sussex County Real Estate Market Report

Finally, in Sussex County, Delaware, 180 new listings in the last 7 days while we had 145 go under contract. If we look countywide, 1,860 total properties for sale while we're selling 475 over the last 30 days. That gives us a 3.9-month supply.

So, out of the three counties, Worcester County definitely had a little pop in activity, which makes sense as we are in the heart of the summer season. As I mentioned, lots of people in town. We've got those emotions flowing; people can smell that suntan lotion. So, we're seeing activity in the local real estate market.

Mortgage Interest Rates

Where are interest rates? Interest rates have continued to come down over the course of the last 45 days, currently sitting at 6.8% on the 30-year fixed as an average.

That is a wrap here for the end of July. If you like this information, please share it with a friend. Thanks again, and we'll see you next week with another edition of the Delmarva Real Estate Market Report.