Worcester & Sussex County Market Update for October 5, 2022
Ryan Haley, broker and owner of Atlantic Shores Sotheby’s International Realty, is back with the October 5, 2022, real estate market report for Worcester and Sussex County.
Find out what has happened in the last seven days in the local market in Maryland and Delaware.
Worcester County, Maryland Market Update
In the last seven days, we’ve had 44 properties that came on the market. That’s broken down by 13 Coming Soon and 31 that are actually on the market. At the same time, the Pending numbers were pretty much right on par. We had 18 go Active Under Contract, along with 25 that are in the Pending status, to give us a total of 43 properties Under Contract in the last seven days.
As for the number of properties that have gone Under Contract, we’ve seen that decrease a little from last week. However, our numbers are very much on pace, even with inventory coming on and inventory going under contract. Demand is still strong.
If we look at the whole county, currently, we have 286 active properties. In the last 30 days, we’ve had 190 properties go Under Contract. That just gives us about 1.5 months’ supply, which is below the national figure of 3 months of supply.
Sussex County, Delaware Real Estate Update
In Sussex County, we had 156 new properties that came on the market in the last seven days. At the same time, we had 121 properties that went under contract.
So, here, we’re seeing more inventory than properties going under contract. Thus, the number of months’ supply is increasing slightly, but as we all know, it is still extremely low.
In total, we have 1,329 properties for sale, while in the last 30 days, we have 464 properties that went under contract. This gives us 2.68 months’ supply, just below the 3 months’ supply average that we’re seeing across the country.