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 171 condos, town homes and homes for sale in Ocean City. Ocean City listing inventory is down by 31% from last year.
Active Listing Prices
The average price of active real estate listings in Ocean City is currently $641,000 and the median listing price is $515,000. The median listing price for the year in Ocean City is $544,000, which is a 52% increase over 2020.
Sold Listing Volume
114 Ocean City real estate listings went to settlement during August bringing the total number of sold listings for the year to 1245, which is a 21% increase in sales over 2020.
Sold Listing Prices
The average sold price of Ocean City properties that went to settlement during August was $441,000 and the median sold price was $392,000. The median sold price for the year in Ocean City is $352,000, which is a 30% increase over 2020.
Average Sold Price/Sq. Ft.
The average sold price per square foot in Ocean City during August was $384. The average sold price per square foot for the year in Ocean City is $350, which is a 25% increase over 2020.
Absorption Rate
The absorption rate in Ocean City is currently less than one-month, which is a two-month improvement over 2020.
Sold to List Price Ratio
Ocean City properties that went to settlement during August sold on average at 99% of the list price. The average sold to list price ratio for the year in Ocean City is 99%, which is a 2% improvement over 2020.
Days on Market
Ocean City real estate listings that went to settlement during August averaged 20 days on the market. Average days on market for the year in Ocean City are 33, which is a 69% improvement over 2020.
Pending Sale Volume
155 Ocean City real estate listings went under contract during August bringing the total number of contracts written for the year to 1317, which is a 9% increase over 2020.
Pending Sale Prices
The average price of Ocean City properties that went under contract during August was $478,000 and the median pending sale price was $385,000. The median pending sale price for the year in Ocean City is $362,000, which is a 27% increase over 2020.
New Listing Volume
170 new properties were listed in Ocean City during August bringing the total number of new listings for the year to 1301, which is a 20% increase over 2020.
New Listing Prices
The average price of new real estate listings in Ocean City during August was $512,000 and the median new listing price was $392,000. The median new listing price for the year in Ocean City is $372,000, which is a 24% increase over 2020.
Market Report Sign Up
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