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 June 2017 video market update I'll share trends related to the Ocean City MD real estate market from May 2017.
[May 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 May the number of active listings was down ↓ 21% from 2016 and down ↓ 5% percent from the month of April 2017. 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 over $300,000.
Days on Market
The average number of days that proeprties spent on the market before being sold decreased ↓ 9%. 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 $260,000.
Home Sales
The number of properties sold increased ↑ 33% compared to 2016 and increased ↑ 28% compared to August 2017. This information shows buyers have been taking advantage of Ocean City MD Real Estate for Sale.
Market Watch Video Update
Ocean City, MD Real Estate Market [May 2017]
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