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Ocean City Real Estate Report

Below is our monthly Ocean City Real Estate Report we summarizing all of the key indicators for the Ocean City real estate market.  This report will inform you as to how the local market is performing and can be helpful in determining the right time to buy or sell.  


Active Listings

There are currently 282 condos, town homes and homes for sale in Ocean City, which represents a 141% increase in inventory over this point in 2023.

Active Listing Prices

The average active listing price in Ocean City is currently $620,000 and the median listing price is $485,000. The median listing price for the year in Ocean City is $490,000, which is an 8% decrease from 2023.

Sold Listing Volume

87 Ocean City properties went to settlement during June bringing the total number of sold listings for the year to 539, which is a 3% decrease in Ocean City real estate sales volume from 2023.

Sold Listing Prices

The average sold price for Ocean City real estate that went to settlement during June was $487,000 and the median sold price was $459,000. The median sold price for the year in Ocean City is $418,000, which remains unchanged from 2023.

Average Sold Price/Sq. Ft.

The average sold price per square foot in Ocean City during June was $432. The average sold price per square foot for the year in Ocean City is $448, which is a 2% increase over 2023.

Absorption Rate

The absorption rate in Ocean City currently stands at three months, which is a two-month increase over this point in 2023.

Sold to List Price Ratio

Ocean City properties that went to settlement during June sold on average at 97% of the list price. The average sold to list price ratio for the year in Ocean City is 97%, which is a 1% decrease from 2023.

Days on Market

Ocean City properties that went to settlement during June averaged 53 days on the market.  Average days on market for the year in Ocean City are 49, which represents a 12% increase over 2023.

Pending Sale Volume

92 Ocean City properties went under contract during June bringing the total number of contracts written for the year to 607, which is down by 3% from 2023.

Pending Sale Prices

The average price of Ocean City properties that went under contract during June was $489,000 and the median pending sale price was $457,000. The median pending sale price for the year in Ocean City is $437,000, which is a 2% increase over 2023.

New Listing Volume

91 new properties were listed in Ocean City during June bringing the total number of new listings for the year to 688, which is a 20% increase over 2023.

New Listing Prices

The average price of new real estate listings in Ocean City during June was $588,000 and the median new listing price was $485,000. The median new listing price for the year in Ocean City is $468,000, which is an 8% increase over 2023.


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