Ryan Haley is back with another edition of the Delmarva Real Estate Market Report for March 20, 2025.

We're almost through the first quarter of 2025, and what is going on in the real estate market? There have been some stops, some starts, and some good activity. I think now we are finally thawing out and getting into the spring market.

Current Market Trends in Worcester County

In the last seven days here in Worcester County, we had 84 new listings hit the market, while 48 went under contract during that period. Countywide, there are currently 697 active listings for sale, while 197 properties have sold over the past 30 days. That gives us 3.5 months of supply here in Worcester County.

Wicomico County Market Overview

In Wicomico County, Maryland, there were 30 new listings in the last seven days, while 30 properties went under contract—an extremely balanced one-for-one ratio. Countywide, there are 235 total active listings as of today, and 103 properties have gone under contract in the last 30 days. That gives us a 2.3-month supply, making it the tightest market of all three counties.

Insights into Sussex County, Delaware

Finally, in Sussex County, there has been some good activity. There are 239 new listings to choose from, while 188 went under contract in the last week. Countywide, there are 1,996 active listings, approaching that 2,000-inventory level. Meanwhile, 542 properties have sold over the last 30 days, giving Sussex County a 3.7-month supply.

Interest Rates Update

Looking at interest rates, the Fed announced yesterday that they would hold rates where they are. That actually helped the market a little, and we saw that long-term rates improved. The 30-year fixed mortgage rate, as of today, is at its lowest level in quite some time, sitting at 6.71%. Meanwhile, FHA, VA, and USDA loans are all in the low sixes, currently at 6.13% as of today.

Conclusion

So, there you have it! That’s your weekly market update. We're almost through the first quarter and almost through March. We'll be back next week with another edition of the Delmarva Real Estate Market Report.