Welcome back to this week's edition of the Delmarva Real Estate Market Report. Today is Wednesday, the 19th of February—more than halfway through the month—and we wanted to give you an update.

We are coming off of President's Day weekend, which is one of our biggest weekends here at the beach. It’s one of the times of year that we all are prepping to get our listings on the market because a lot of our current owners and potential buyers come back to town to celebrate Valentine's Day, go to the Boat Show, and, of course, enjoy the long President’s Day weekend.

So, what did we see here in the last seven days?

Current Market Trends in Worcester County

Here in Worcester County, we had 93 new listings hit the market. At the same time, 60 properties went under contract, which is double what we saw last week. If you recall, I mentioned that we typically see more listings leading up to President's Day weekend, but the number of sales was lagging a bit. So, here we are once again—93 new listings and 60 going under contract in the last seven days. Countywide, we have 646 total active listings as of today, with 146 properties going under contract in the last 30 days. That gives us a 4.1-month supply in Worcester County.

Wicomico County Market Overview

Moving over to Wicomico County, in the last seven days, we had 26 new listings, while 21 properties went under contract. This market remains fairly balanced, with numbers mirroring what we saw last week. Countywide, there are 228 total active listings as of today, with 85 properties going under contract in the last 30 days. That gives us a 2.7-month supply in Wicomico County.

Insights into Sussex County, Delaware

Finally, in Sussex County, 190 new listings hit the market in the last seven days, while 132 properties went under contract. Looking at the whole county, we currently have 1,799 total active listings and are selling at a pace of 434 properties over the last 30 days. That gives us a 4.1-month supply, which is exactly what we have in Worcester County.

Interest Rates Update

Looking at interest rates quickly, we've bounced around a little bit, but we're still staying right in line with 7%. As of today, the conventional 30-year fixed rate is at 7.04%, while government loans are in the mid-sixes.

Conclusion

So, there you have it! We are fully into the spring market at this point. If you like this information, please share it with a friend. If you'd like us to break down any specific segment of the market, we'd be happy to do that as well.

Until next time, make it a great day!