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 July 2017 video market update, I'll share trends related to the Ocean City MD real estate market for June 2017.
[June 2017 Market Update]
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 June the number of active listings was down ↓ 23% from 2016 and down ↓ 7% percent from the month of May. With less inventory buyers who waited to buy may have a smaller selection to choose from.
As you can see from the market watch video below, the median listing price in the Ocean City MD real estate market was just under $310,000.
Days on Market
The average number of days that proeprties spent on the market before being sold decreased ↓ 20%. This lower number of days may signal a postive in the local inventory turnover rate.
Median Sales Price
The median sale price was just under $250,000.
Home Sales
The number of properties sold decreased ↓ 13% compared to 2016 and decreased ↓ 34% compared to August 2017. The lower year over year figures indicate that more buyers may be able to negotiate better terms when buying Ocean City MD Real Estate for Sale.
Interested in reviewing more trends for the Ocean City, MD real estate market? Read all of my market updates here.
Market Watch Video Update
Ocean City, MD Real Estate Market [June 2017]
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