Del/Mar Coastal Real Estate Market Report (February 2025)
Data Source: Bright MLS Weekly Market Report, Week Ending April 4, 2025
Report Prepared by Square Feet Appraisals in Collaboration with Delaware Beaches Online
Market Overview
The Del/Mar Coastal region saw a strong boost in listings this March, which helped bring buyers back into the market. Home prices continue to rise, but some buyers—especially second-home shoppers—are hesitating due to broader economic uncertainties.
| Metric | Mar 2025 | Mar 2024 | % Change |
|---|---|---|---|
| Closed Sales | 649 | 686 | -5.4% |
| Median Sold Price | $416,500 | $395,000 | +5.4% |
| Median Days on Market | 30 days | 27 days | +3 days |
| New Pending Sales | 937 | 972 | -3.6% |
| New Listings | 1,314 | 1,057 | +24.3% |
| Active Listings | 3,166 | 2,297 | +37.8% |
| Months of Supply | 4.05 | 3.21 | +0.84 months |
County-Level Breakdown
| County | Closed Sales | Median Price | Days on Market | New Listings | Active Listings |
|---|---|---|---|---|---|
| Somerset, MD | 14 (-33.3%) | $241,875 (+22.5%) | 51 days | 34 (+25.9%) | 124 (+39.3%) |
| Wicomico, MD | 68 (-18.1%) | $282,000 (+8.5%) | 26 days | 102 (+22.9%) | 215 (+54.7%) |
| Worcester, MD | 148 (-14.0%) | $420,000 (+0.6%) | 26 days | 312 (+21.9%) | 737 (+43.4%) |
| Sussex, DE | 419 (+2.2%) | $453,000 (+6.6%) | 31 days | 866 (+25.3%) | 2,090 (+34.4%) |
Market Breakdown by Property Type
| Property Type | Median Price | Change YoY | Days on Market | Change YoY |
|---|---|---|---|---|
| Detached Homes | $403,995 | +3.6% | 31 days | +2 days |
| Townhomes | $425,000 | +0.6% | 31 days | +7 days |
| Condos | $420,000 | +5.7% | 29 days | +11 days |
Key Insights
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Inventory surge. Listings jumped 24% from last year, offering more opportunities for buyers.
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Prices keep rising. Median sold prices were up across the board, especially in Somerset County.
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Buyer hesitation. Pending sales dropped slightly, possibly tied to market jitters or rising rates.
Observations & Trends
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Sussex County is driving demand. It’s the only county with a year-over-year increase in pending and closed sales.
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Second-home market may be cooling. Economic uncertainty and rate sensitivity could be affecting coastal buyers.
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More choices = longer decision times. Median days on market ticked up slightly to 30 days.
Takeaway
The Del/Mar Coastal market is still strong, but momentum is shifting. Inventory is up, giving buyers breathing room. Sellers should stay competitive on pricing, especially in higher-end and vacation home segments. With rates expected to hold or fall, activity could pick up again this spring.
