Weekly Real Estate Market Update for Ocean City, Maryland and Surrounding Counties - 5/31/2024

Ryan Haley returns with the real estate market report for the last time in May of 2024. We just got through Memorial Day weekend, which was fantastic. We saw a lot of people come back to town. All of our restaurants were open. We had a little bit of good beach days and some not so great weather, as usual. That's typically what happens here with Memorial Day. But we are now past Memorial Day, coming right into summer.

Worcester County Real Estate Market Report

What are we seeing with the real estate market report here in Worcester County? In the last seven days, we had 57 new properties come on the market while we had 55 go under contract. So, very balanced there. There are 550 total properties for sale here in Worcester County, while we're selling 173 over the course of the last 30 days. That gives us a 3.2-month supply here in Worcester County.

Wicomico County Real Estate Market Report

Wicomico County had 29 new listings in the last seven days while we had 32 go under contract. So, we're outselling the new inventory in Wicomico. Total inventory is 186 properties for sale as of today, and we're selling 113 in the last 30 days. That gives us a 1.6-month supply.

Sussex County Real Estate Market Report

Finally, here in Sussex County, there were 156 new opportunities for buyers in the last seven days while we had 142 go under contract. There are 1,795 total actives for sale in Sussex County, while we're selling just under 500 over the course of the last 30 days.

 

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