The Ocean City MD real estate market is hot. Often properties are going under contract in a blink of an eye. I hope you'll use this information to make smart and informed decisions when buying real estate in Ocean City, MD. In this May 2017, video market update of the Ocean City MD real estate market from April 2017.
[April 2017 Market Report]
Residential Real Estate in Ocean City MD
Let's take a look at active residential real estate in Ocean City, MD.
Active Inventory
During the month of August the number of active listings was down ↓ 23% from 2016 and down ↓ 5% percent from the month of August. With less inventory buyers who waited to buy may have a smaller selection to choose from.
Median Listing Price
As you can see from the market watch video below, the median listing price in the Ocean City MD real estate market was just over $300,000.
Days on Market
The average number of days that properties spent on the market before being sold decreased ↓ 3%. This lower number of days may signal a positive in the local inventory turnover rate.
Median Sales Price
The median sale price was just over $250,000.
Home Sales
The number of properties sold increased ↑ 5% compared to 2016 and decreased ↓ 5% compared to August 2017. This information shows buyers have found more Ocean City MD Real Estate for Sale that fit their criteria.
Market Watch Video Update
Ocean City, MD Real Estate Market [April 2017]
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