Ocean City Real Estate Report
Below is the monthly report we prepare summarizing all of the key indicators for the Ocean City real estate market. This report will advise you as to how the local market is performing overall and can be helpful in determining the right time to buy or sell.
Active Listings
There are currently 484 condos, town homes and homes for sale in Ocean City. Ocean City listing inventory is down by 27% from 2019.
Active Listing Prices
The average price of active real estate listings in Ocean City is currently $417,000 and the median listing price is $350,000. The median listing price for the year in Ocean City is $338,000, which is a 5% increase over 2019.
Sold Listing Volume
115 Ocean City real estate listings went to settlement during April bringing the total number of sold listings for the year to 396, which is a 2% decrease from 2019.
Sold Listing Prices
The average sold price of Ocean City properties that went to settlement during April was $317,000 and the median sold price was $272,000. The median sold price for the year in Ocean City is $259,000, which is a 2% decrease from 2019.
Average Sold Price/Sq. Ft.
The average sold price per square foot in Ocean City during April was $278. The average sold price per square foot for the year in Ocean City is $274, which is a 7% increase over 2019.
Absorption Rate
The absorption rate in Ocean City is currently 4 months, which is a two month improvement over 2019.
Sold to List Price Ratio
Ocean City properties that went to settlement during April sold on average at 96% of the list price. The average sold to list price ratio for the year in Ocean City is 96%, which remains unchanged from 2019.
Days on Market
Ocean City real estate listings that went to settlement during April averaged 134 days on the market. Average days on market for the year in Ocean City are 104, which is a 13% improvement over 2019.
Pending Sale Volume
46 Ocean City real estate listings went under contract during April bringing the total number of contracts written for the year to 392, which is a 19% decrease from 2019.
Pending Sale Prices
The average price of Ocean City properties that went under contract during April was $335,000 and the median pending sale price was $270,000. The average pending sale price for the year in Ocean City is $321,000, which is a 2% increase over 2019.
New Listing Volume
49 new properties were listed in Ocean City during April bringing the total number of new listings for the year to 482, which is a 26% decrease from 2019.
New Listing Prices
The average price of new real estate listings in Ocean City during April was $319,000 and the median new listing price was $290,000. The median new listing price for the year in Ocean City is $352,000, which remains unchanged from 2019.
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