Welcome back to this week's edition of the Delmarva Real Estate Market Report. Today is the 5th of March, 2025. We're two months into this year already and getting into our third month of the first quarter!

We're starting to see how the year is beginning to shake out. We're seeing what the activity looks like coming off one of the coldest winters we've had in quite some time, with the most snow. We are starting to thaw out and getting some warmer weather, which is great!

What have we seen here in the last seven days in the local real estate market? Well, I can tell you the trends are two things—more inventory and lower interest rates—which means good things for buyers.

Current Market Trends in Worcester County

We're going to start off here in Worcester County. There were 87 new listings in the last seven days, while 67 went under contract. The volume all around is starting to pick up, with more activity in the marketplace. As of today, there are 645 total properties for sale, and we're selling at a pace of 183 over the last 30 days. That actually gives us a 3.5-month supply. Interestingly enough, we have more inventory, but at the same time, the number of contracts coming in has increased. This has reduced the months of supply, where last week we were up over four months—today, we're at 3.5 months.

Wicomico County Market Overview

Hopping over to Wicomico County, there were 39 new listings in the last seven days, while 34 went under contract. Countywide, there are 239 total active listings, and 80 have gone under contract in the last 30 days. That gives us an even three-month supply in Wicomico County.

Insights into Sussex County, Delaware

Moving over to Sussex County, Delaware, in the last seven days, 231 new listings hit the market, while 159 went under contract. Looking at the entire county, there are 1,893 total active listings today, and 473 have gone under contract in the last 30 days. That gives us an even four-month supply.

So, in total, Worcester County and Sussex County have seen their months of supply come down slightly. Even though we've seen more inventory hit the market, we've also seen more activity.

Interest Rates Update

Where are interest rates as of today? Currently, the interest rate on a 30-year fixed mortgage is sitting at 6.72%, which is one of the lowest levels we've seen in months. If you look at FHA, USDA, and VA loans, rates are at 6.14%—just about 6%—which is great news!

Conclusion

Once again, more inventory to choose from and lower rates—the combination is very helpful for buyers. If you like this information, please share it with a friend. If you want specific information about any area, we'd be happy to help you there as well.

Till next time, thanks again!