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 110 condos, town homes and homes for sale in Ocean City. Ocean City listing inventory decreased by 39% during 2021.
Active Listing Prices
The average active listing price in Ocean City is $724,000 and the median listing price is $550,000. The median listing price for the year in Ocean City was $540,000, which was a 44% increase over 2020.
Sold Listing Volume
152 Ocean City properties went to settlement during December bringing the total number of sold listings for the year to 1879, which was a 4% increase in sales volume over 2020.
Sold Listing Prices
The average sold price in Ocean City during December was $416,000 and the median sold price was $360,000. The median sold price for the year in Ocean City was $360,000, which was a 27% increase over 2020.
Average Sold Price/Sq. Ft.
The average sold price per square foot in Ocean City during December was $380. The average sold price per square foot for the year in Ocean City was $363, which was a 26% increase over 2020.
Absorption Rate
The absorption rate in Ocean City is currently less than one-month, which is a one-month improvement over 2020.
Sold to List Price Ratio
Ocean City properties that went to settlement during December sold on average at 99% of the list price. The average sold to list price ratio for the year in Ocean City was 99%, which was a 2% improvement over 2020.
Days on Market
Ocean City properties that went to settlement during December averaged 31 days on the market. Average days on market for the year in Ocean City were 29, which was a 67% improvement over 2020.
Pending Sale Volume
80 Ocean City properties went under contract during December bringing the total number of contracts written for the year to 1857, which was a 4% increase over 2020.
Pending Sale Prices
The average price of Ocean City properties that went under contract during December was $429,000 and the median pending sale price was $394,000. The median pending sale price for the year in Ocean City was $367,000, which was a 26% increase over 2020.
New Listing Volume
61 new properties were listed in Ocean City during December bringing the total number of new listings for the year to 1815, which was a slight increase over 2020.
New Listing Prices
The average price of new listings in Ocean City during December was $532,000 and the median new listing price was $390,000. The median new listing price for the year in Ocean City was $375,000, which was a 22% increase over 2020.
Market Report Sign Up
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