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.
There are currently 121 condos, town homes and homes for sale in Ocean City. Ocean City listing inventory is down by 76% from last year.
The average price of active real estate listings in Ocean City is currently $713,000 and the median listing price is $575,000. The average listing price for the year in Ocean City is $665,000, which is a 63% increase over 2020.
137 Ocean City real estate listings went to settlement during February bringing the total number of sold listings for the year to 286, which is a 93% increase in sales over 2020.
The average sold price of Ocean City properties that went to settlement during February was $381,000 and the median sold price was $324,000. The average sold price for the year in Ocean City is $361,000, which is a 23% increase over 2020.
The average sold price per square foot in Ocean City during February was $327. The average sold price per square foot for the year in Ocean City is $324, which is an 18% increase over 2020.
The absorption rate in Ocean City is currently less than one-month, which is a four-month improvement over 2020.
Ocean City properties that went to settlement during February sold on average at 98% of the list price. The average sold to list price ratio for the year in Ocean City is 98%, which is a 2% improvement over 2020.
Ocean City real estate listings that went to settlement during February averaged 44 days on the market. Average days on market for the year in Ocean City are 43, which is a 50% improvement over 2020.
153 Ocean City real estate listings went under contract during February bringing the total number of contracts written for the year to 336, which is a 33% increase over 2020.
The average price of Ocean City properties that went under contract during February was $414,000 and the median pending sale price was $370,000. The average pending sale price for the year in Ocean City is $398,000, which is a 28% increase over 2020.
143 new properties were listed in Ocean City during February bringing the total number of new listings for the year to 286, which is a 3% decrease from 2020.
The average price of new real estate listings in Ocean City during February was $425,000 and the median new listing price was $372,000. The average new listing price for the year in Ocean City is $436,000, which is a 23% increase over 2020.
If you would like our monthly Ocean City Real Estate Market Report emailed to you simply fill out the contact form below.
