Ryan Haley with Atlantic Shores Sotheby’s International Realty is back with the Delmarva real estate market report for August 21st, 2024. What have we seen in the local real estate market for our three counties in the last seven days?

Worcester County Real Estate Market Report

Let’s start off with Worcester County, Maryland. In the last seven days, we had 65 new listings hit the market while we had 47 go under contract in that period. Countywide, we have 588 total active listings in Worcester County, with 163 going under contract in the last 30 days. That gives us a 3.6-month supply in Worcester County, Maryland.

Wicomico County Real Estate Market Report

Hopping over to Wicomico County, it's pretty balanced here. In the last seven days, we had 30 new listings come on the market while 31 went under contract in that period. So, very balanced. Total actives for the county are 211, with Wicomico County selling at a pace of 94 a month. That gives us a 2.3-month supply currently here in Wicomico County.

Sussex County Real Estate Market Report

Rounding out Delmarva, we have Sussex County, our largest county on the shore. There were 165 new listings in the last seven days, while 171 went under contract during that time, so it's very balanced in Sussex County as well. Total actives are 1,837 active properties for sale, with Sussex County selling 524 over the last 30 days. That gives us a 3.5-month supply in Sussex County.

Mortgage Interest Rates

What's going on with interest rates? Interest rates have continued to decline, which is great news for buyers. As we see a little more inventory combined with lower rates, it creates a good opportunity for you to possibly pick up that property. Interest rates as of today: the 30-year fixed is coming in at 6.46%. If we look at all of the different types of loans, the lowest right now is a government loan with an FHA, currently coming in at 5.9% on a 30-year. The 30-year jumbo is coming in at 6.67% currently.


So, there you have it. That is the weekly real estate market report for Delmarva. I hope you can tune in next week, and we'll continue to try to make it come live for you here. Thanks again!