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 538 condos, town homes and homes for sale in Ocean City. Ocean City listing inventory saw a 14% decrease in 2019.
Active Listing Prices
The average price of active real estate listings in Ocean City is currently $397,000 and the median listing price is $330,000. The average listing price for the year in Ocean City was $397,000, which was a 3% increase over 2018.
Sold Listing Volume
119 Ocean City real estate listings went to settlement during December bringing the year to date sold volume to 1341, which was a 1% increase over 2018.
Sold Listing Prices
The average sold price of Ocean City properties that went to settlement during December was $289,000 and the median sold price was $268,000. The average sold price for the year in Ocean City was $307,000, which was a slight increase over 2018.
Average Sold Price/Sq. Ft.
The average sold price per square foot in Ocean City during December was $273. The average sold price per square foot for the year in Ocean City was $266, which was a slight decrease from 2018.
Absorption Rate
The absorption rate in Ocean City is currently 5 months, which is a one month improvement over 2018.
Sold to List Price Ratio
Ocean City properties that went to settlement during December sold on average at 96% of the list price. The average sold to list price ratio for the year in Ocean City was 96%, which remained unchanged from 2018.
Days on Market
Ocean City real estate listings that went to settlement during December averaged 98 days on the market. Average days on market for the year in Ocean City were 111, which was a 14% improvement over 2018.
Pending Sale Volume
59 Ocean City real estate listings went under contract during December bringing the total number of contracts written for the year to 1362, which was a 4% increase over 2018.
Pending Sale Prices
The average price of Ocean City properties that went under contract during December was $309,000 and the median pending sale price was $279,000. The average pending sale price for the year in Ocean City was $318,000, which was a slight increase over 2018.
New Listing Volume
82 new properties were listed in Ocean City during December bring the total number of new listings for the year to 1704, which was a 3% increase over 2018.
New Listing Prices
The average price of new real estate listings in Ocean City during December was $350,000 and the median new listing price was $331,000. The average new listing price for the year in Ocean City was $350,000, which was a 6% increase over 2018.
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