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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. 


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