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 135 condos, town homes and homes for sale in Ocean City. Ocean City listing inventory is down by 69% from last year.
The average price of active real estate listings in Ocean City is currently $648,000 and the median listing price is $575,000. The average listing price for the year in Ocean City is $647,000, which is a 57% increase over 2020.
149 Ocean City real estate listings went to settlement during June bringing the total number of sold listings for the year to 1008, which is a 55% increase in sales over 2020.
The average sold price of Ocean City properties that went to settlement during June was $398,000 and the median sold price was $368,000. The average sold price for the year in Ocean City is $387,000, which is a 28% increase over 2020.
The average sold price per square foot in Ocean City during June was $377. The average sold price per square foot for the year in Ocean City is $341, which is a 24% 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 June sold on average at 100% of the list price. The average sold to list price ratio for the year in Ocean City is 99%, which is a 3% improvement over 2020.
Ocean City real estate listings that went to settlement during June averaged 21 days on the market. Average days on market for the year in Ocean City are 37, which is a 65% improvement over 2020.
138 Ocean City real estate listings went under contract during June bringing the total number of contracts written for the year to 1022, which is a 26% increase over 2020.
The average price of Ocean City properties that went under contract during June was $493,000 and the median pending sale price was $403,000. The average pending sale price for the year in Ocean City is $414,000, which is a 26% increase over 2020.
130 new properties were listed in Ocean City during June bringing the total number of new listings for the year to 972, which is a 37% increase over 2020.
The average price of new real estate listings in Ocean City during June was $540,000 and the median new listing price was $425,000. The average new listing price for the year in Ocean City is $444,000, which is a 25% increase over 2020.
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