I'd say hang out and maybe go on a date or two, but DO NOT GO STEADY WITH HIM; especially since you are having doubts about being ready to be with someone. A date or two or hanging out will help you get to know him better. Remember, dating is getting to know someone better, it isn't a marriage or an engagement proposal so don't get all scared if you two actually decide to be boyfriend and girlfriend :) Hope that helped.
If anything, don't 'go out with him' in the sense that you two are - I'll use my grandma's terms to make things easier - 'going steady' as in you're boyfriend and girlfriend. Maybe go out with him on a date and go get something to eat or watch a movie or do something you both enjoy to see how it feels in a sort of intimate setting like that, to test the waters almost.
No one ever 'courts' anymore. It's like you know them and then you're dating. Then you go on dates.
Or just explain to him how you feel.
I don't know, sorry for my shit advice, my mind is spinning at the moment. :')
I think you should tell him how you feel, and maybe get to know him better. It seems like it could be something good, but then, you've only known him a week.
Tell him exactly how you feel, it's better to tell him something then nothing at all. Hopefully, he will accept the fact and maybe wait for you. Hope this helped