Ocean City Real Estate Report

Active Listings

There are currently 647 condos, town homes and homes for sale in Ocean City, which is a 20% decrease in inventory from 2017.

Active Listing Prices

The average price of active real estate listings in Ocean City is currently $376,000 and the median listing price is $308,000.  The average listing price for the year in Ocean City was $377,000, which was a 9% increase over 2016.

Sold Listing Volume

104 Ocean City real estate listings went to settlement during December bringing the total number of sold listings for the year to 1282, which was a 14% increase in sales volume over 2016.

Sold Listing Prices

The average sold price of Ocean City properties that went to settlement during December was $284,000 and the median sold price was $265,000.  The average sold price for the year in Ocean City was $289,000, which was a 2% increase over 2016.

Average Sold Price/Sq. Ft.

The average sold price per square foot in Ocean City during December was $246.  The average sold price per square foot for the year in Ocean City was $257, which was a 4% increase over 2016.

Absorption Rate

The absorption rate in Ocean City currently stands at 6 months, which is a 3 month improvement over 2016.

Sold to List Price Ratio

Ocean City properties that went to settlement during December sold on average at 96% of the listing price.  The average sold to list price ratio for the year in Ocean City was 96%, which was a 1% improvement over 2016.

Days on Market

Ocean City real estate listings that went to settlement during December averaged 117 days on the market.  Average days on market for the year in Ocean City were 149, which was a 19% improvement over 2016.

Pending Sale Volume

56 Ocean City real estate listings went under contract during December bringing the total number of contracts written for the year to 1362, which represented a 17% increase in market activity over 2016.

Pending Sale Prices

The average price of Ocean City properties that went under contract during December was $320,000 and the median pending sale price was $265,000.  The average pending sale price for the year in Ocean City was $303,000, which was a 1% increase over 2016.

New Listing Volume

91 new properties were listed in Ocean City during December bringing the total number of new listings for the year to 1673, which was a 3% increase over 2016.

New Listing Prices

The average price of new Ocean City real estate listings during December was $318,000 and the median new listing price was $253,000.  The average new listing price for the year in Ocean City was $345,000, which was a slight increase over 2016.

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