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 664 condos, town homes and homes for sale in Ocean City. Ocean City listing inventory is down by 6% from 2018.
Active Listing Prices
The average price of active real estate listings in Ocean City is currently $393,000 and the median listing price is $325,000. The average listing price for the year in Ocean City is $387,000, which is a 4% increase over 2018.
Sold Listing Volume
57 Ocean City real estate listings went to settlement during February bring the year to date sold volume to 111, which is an 18% decrease from 2018.
Sold Listing Prices
The average sold price of Ocean City properties that went to settlement during February was $322,000 and the median sold price was $269,000. The average sold price for the year in Ocean City is $308,000, which is a 3% decrease from 2018.
Average Sold Price/Sq. Ft.
The average sold price per square foot in Ocean City during February was $257. The average sold price per square foot for the year in Ocean City is $258, which is a 4% decrease from 2018.
Absorption Rate
The absorption rate in Ocean City is currently 6 months, which is a one-month improvement from 2018.
Sold to List Price Ratio
Ocean City properties that went to settlement during February 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 is unchanged from 2018.
Days on Market
Ocean City real estate listings that went to settlement during February averaged 143 days on the market. Average days on market for the year in Ocean City are 114, which is a 25% improvement over 2018.
Pending Sale Volume
126 Ocean City real estate listings went under contract during February bringing the total number of contracts written for the year to 209, which is a 5% increase over 2018.
Pending Sale Prices
The average price of Ocean City properties that went under contract during February was $312,000 and the median pending sale price was $275,000. The average pending sale price for the year in Ocean City is $323,000, which is a 2% increase over 2017.
New Listing Volume
156 new properties were listed in Ocean City during February bring the total number of new listings for the year to 282, which is a 2% decrease from 2018.
New Listing Prices
The average price of new real estate listings in Ocean City during February was $371,000 and the median new listing price was $278,000. The average new listing price for the year in Ocean City is $356,000, which is a 4% increase over 2017.
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