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 166 condos, town homes and homes for sale in Ocean City.  Ocean City listing inventory is down by 2% from 2021.

Active Listing Prices

The average active listing price in Ocean City is $619,000 and the median listing price is $480,000. The median listing price for the year in Ocean City is $521,000, which is a 3% decrease from 2021.

Sold Listing Volume

90 Ocean City properties went to settlement during October bringing the total number of sold listings for the year to 1090, which represents a 31% decrease in Ocean City real estate sales from 2021.

Sold Listing Prices

The average sold price for Ocean City real estate during October was $407,000 and the median sold price was $378,000. The median sold price for the year in Ocean City is $409,000, which is a 13% increase over 2021.

Average Sold Price/Sq. Ft.

The average sold price per square foot in Ocean City during October was $411. The average sold price per square foot for the year in Ocean City is $419, which is a 17% increase over 2021.

Absorption Rate

The absorption rate in Ocean City is currently one-month, which remains unchanged from 2021.

Sold to List Price Ratio

Ocean City properties that went to settlement during October 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 remains unchanged from 2021.

Days on Market

Ocean City properties that went to settlement during October averaged 24 days on the market.  Average days on market for the year in Ocean City are 26, which is a 13% improvement over 2021.

Pending Sale Volume

76 Ocean City properties went under contract during October bringing the total number of contracts written for the year to 1167, which is a 29% decrease from 2021.

Pending Sale Prices

The average price of Ocean City properties that went under contract during October was $493,000 and the median pending sale price was $395,000. The median pending sale price for the year in Ocean City is $417,000, which is a 15% increase over 2021.

New Listing Volume

1114 new properties were listed in Ocean City during October bringing the total number of new listings for the year to 1202, which is a 27% decrease from 2021.

New Listing Prices

The average price of new listings in Ocean City during October was $530,000 and the median new listing price was $427,000. The median new listing price for the year in Ocean City is $427,000, which is a 14% increase over 2021.


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