Ocean City MD Real Estate Market Report

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.
com
A Division of The Mark Fritschle Group | Condominium Realty LTD
Ocean City and Ocean Pines Market Report Search All Area Listings
We provide the most advanced consumer search available that is linked directly to the Multiple Listing Service that we use.
New Listing Updates

Sign up for email updates with new listings and price adjustments for the type of properties you are looking for
Active Listing Volume

Ocean City The current Ocean City inventory stands at 1114 properties, which is down by 22% from this point in 2012. It is typical to see a bump up in inventory this time of year as most Sellers begin listing their properties for the upcoming season. The next couple of months will see the best selection of properties that will be available all year. Search All Ocean City Listings
1836 1850 1885 1825 1834
Ocean City Active Listing Volume

1825 1775 1770 1731 1717 1658 1606 1604 1574 1590 1604 1565 1545 1521 1508 1493 1451 1420 1426 1447 1393 1407 1361 1287
2000 1800 1600 1400 1200 1000 800 600 400 200 0
1231
1196
1198
1183
1126
1104 148 362 320
F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F 10 11 12 13
Ocean Pines There are currently 143 properties for sale in Ocean Pines, which is down by 24% from February of last year. As with Ocean City we will see a flat or slightly increasing inventory level over the next couple of months as Sellers list their properties in anticipation of the busy season. Some of the better options will be available in the coming months. Search All Ocean Pines Listings
Ocean Pines Active Listing Volume

304 299 286 295
350
273 264 252
314
278
269
259
258
268
254
238
240
246
225
224
232
300 250 200 150 100 50 0
256
214
192
192
189
188
188
186
185
191
172
179
184
168
1089 354 316 141
Active Listing Prices

Ocean City The current average active listing price in Ocean City is $351,000 and the median is $279,000, both of which are down slightly from this point last year. A majority of the current Ocean City inventory is in the $300,000 and below range resulting in the decrease in this value. There are currently only 175 listings in Ocean City over $500,000. Ocean City Active Listing Prices
550 500
401 398 395 395 392 395 397 388 392 386 385 383 382 386 382 380 381
Avg. Price Med. Price 3 per. Mov. Avg. (Avg. Price)
450 400 350 300 250
422
378
377
377
377
373
374
376
368
369
366
368
373
364
365
362
362
Avg. Price Med. Price 3 per. Mov. Avg. (Avg. Price) 3 per. Mov. Avg. (Med. Price)
Ocean Pines The average and median active listing prices in Ocean Pines are currently $315,000 and $258,000 respectively. The average price value has remained in the same range since the spring of last year. This is a reassuring sign as there has been considerable sales activity at these prices.
Ocean Pines Active Listing Prices

450
355
352
350
349
352
400
340 337 340 337 334
342
332
334
330
335
336
328
326
326
325
327
324
322
325
329
321
320
317
320
322
316
310
300 250 200 F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F 10 11 12 13
308
310
350
315
351
143
1114
Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Ocean City and Ocean Pines Market Report Sold Listing Updates
Sign up to get email updates when properties sell in areas that are of interest to you, based on your specifications.
Recently Sold Listings

View Multiple Listing Service reports of the properties that have sold over the most recent 90 day period, broken down by area.
Sold Listing Volume

Ocean City 55 properties settled in Ocean City during February bringing the YTD total to 98, which is up slightly from this point last year. The year is off to a good start and considering that there are a total of 120 properties under contract in Ocean City this is a trend that will continue. View Ocean Citys February Sold Listings Ocean City Sold Listing Volume
103 99
120
93 83 81 81 82 80
106
109
99 92
92
91 72
77
77
81
75
76
70
65
65
60
57
60
80
53
70
72
86
100
89 67 18 17 10 300 257 10 237 293 251 281 290 284 43 55 242 282 22
60 40 20 0
49
Ocean Pines 10 properties sold in Ocean Pines during February bringing the YTD total to 20 settled properties. This is down slightly from this point last year, which can be attributed to high activity levels last winter. With 60 properties currently under contract in Ocean Pines look for some very good months ahead for the Ocean Pines market. View Ocean Pines February Sold Listings
Ocean Pines Sold Listing Volume

28 28 28 26 25 25 26 25 23 24
34
36
19
16
15
16
14
15 10 5 0
12
13
Sold Listing Prices

Ocean City
Ocean City Sold Listing Prices

500
364 363 379
12
14
The average and median sold listing prices in Ocean City for February were $293,000 and $250,000 respectively. This value has bounced around a bit, however it has improved since the middle of last summer.
Avg. Price Med. Price
450 400 350 300 250 200 150 100
356
353
355
345
347
334
326
322
337
360
318
306
305
309
301
304
310
292
283
299
280
277
268
265
260
270
259 225
282 199
Ocean Pines The average and medial sold property prices in Ocean Pines for February were $237,000 and $190,000, representing 11% and 14% increases respectively over the February 2012 values. The average value has showed considerable improvement since the Summer last year.
400 350
277 267
301
374
Ocean Pines Sold Listing Prices
Avg. Price Med. Price 3 per. Mov. Avg. (Avg. Price)
292
277
294
254
246
253
242
237
243
231
224
229
234
259
222
220
215
213
208
200 150 F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F 10 11 12 13
197
250
213
214
221
262
300
265
270
311
15
20
18
20
25
22
22
22
22
23
25
30
27
28

Ocean City and Ocean Pines Market Report Distressed Listing Updates
Sign up to receive email updates as the new foreclosure and short sale listings hit the market in the areas that are of interest to you.
Foreclosures and Short Sales

View all of the foreclosure and short sale listings currently available in Ocean City, Ocean Pines, Berlin and West Ocean City.
Sold Price/Sq. Ft.

Ocean City The average sold price per square foot in February was $239, which is up by 3% from February of 2012. The trend line has been on a steady ascent since last summer and is a positive sign of stability and good things to come. Ocean City Sold Price/Sq. Ft.
288 292
350
283 276 266 263
268
268
288
267
263
258
248
248
241
241
245
246
239
247 142 7
255 123 7
300 250 200 150 100
261
263
236
236
238
233
228
231
232
225
Ocean Pines The average sold price per square foot in Ocean Pines in February was $156, which is up by 12% from February of last year. This value has shown considerable improvement since late Summer of last year.
Ocean Pines Sold Price/Sq. Ft.

250 230 210 190 170 150 130 110 90 70 50
168
162
165
167
218
156
162
224
228
233
235
155
152
146
146
152
145
145
142
143
141
142
146
139
139
139
139
138
138
139
140
136
134
136
125
Absorption Rates
Ocean City The absorption rate in Ocean City currently stands at 13 months, which is down by 5 months from February of last year. This value will remain flat for a month or 2 as the seasonal inventory comes on the market and will then resume its descent. Ocean City Absorption Rates
50 45 40 35 30 25 20 15 10 F M A M J 10 J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F 11 12 13
24 24 24 24 23 23 22 23 22 22 22
20 20 20 20 20 19 18 18 18 18 18 18 18 18 19 18 18 17 17 16 16 15 14 13 13 13
Ocean Pines The absorption rate in Ocean Pines currently stands at 7 months, which is down by 2 months from where we were this time last year. I would look for this value to stay flat for a few months and then continue to decrease as the Spring buying season kicks in.
20 18 16 14 12 10 8 6 4 2 0
15
16
17
18 18
19
Ocean Pines Absorption Rates

18 17 15 15 14 13 13 13 13 13 13 12.5 12
12
122
11
10 8 8
9 8.5 8.5 8
130
138
155
F M A M J 10
J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F 11 12 13
156 7
239

Ocean City and Ocean Pines Market Report Selling Real Estate
View our comprehensive marketing plan that we utilize to get our clients the highest price possible in the shortest amount of time.
Property Valuation
Fill out our quick property information form and we will email you a comprehensive valuation report for your home or condo.
Sold to List Price Ratios

Ocean City Ocean City real estate is currently selling at 94% of the listing price. As the inventory continues to tighten with increased competition for the better listings this value will continue to improve.
100% 98%
93% 93% 92% 92% 92% 92% 92% 92%
Ocean City Sold to List Price Ratio

94% 94% 94% 94% 95% 94% 94% 93% 93% 93% 93% 93% 93% 93% 93% 93% 93% 92% 92% 92% 92% 92% 92% 92% 93% 95% 81 163 89 40 173 94% 145 95%
96%
91%
91%
92% 90% 88% 86% 84% 82% 80%
90%
94%
91%
Ocean Pines Property in Ocean Pines is currently selling at 95% of the listing price, which is a considerable improvement over February of last year. This increase is attributed to the fact that inventory is down in Ocean Pines that is leading to higher sales prices for the more attractive listings.
96%
100% 98% 96%

91% 91% 90%
Ocean Pines Sold to List Price Ratio

95% 95% 95% 95% 95% 95% 94% 94% 94% 94% 94% 94% 95% 117 93% 93% 94% 93% 93% 93% 93% 249 153 184 94 94%
89%
86%
86%
88% 86% 84% 82% 80%
Average Days on Market

Ocean City Property that sold during February averaged 145 days on the market. It is typical to see a spike in this value this time of year as we are coming out of our slowest season. Look for this value to decrease in the coming months as we are seeing the well priced properties in good condition go under contract quickly. Ocean City Avg. Days on Market
500 450 400 350 300 250 200 150 100 50 0
328 308
297
86%
90%
87%
88%
92%
89%
90%
94%
296
269
268
282
91%
259
250
251
242
241
247
257
240
225
236
224
219
225
239
241
260
213
211
205
178
184
206
177
215
Ocean Pines Ocean Pines property that is selling is currently averaging 173 days on the market. The bump up over the past couple of months is a result of the time of year and the fact that a few of the listings that sold were overpriced for a considerable amount of time.
Ocean Pines Avg. Days on Market

236 233
226
228
221
223
178
186
163
160
158
169
250 200 150

47
190
215
300
245
269
350
305
144
138
136
137
138
126
121
126
136
150
100 50 0
113
119
155
103

Ocean City and Ocean Pines Market Report Useful Buying Information
View a series of articles and videos that we have put together which explain and outline the various phases of buying real estate.
Buyer Action Plan

View the plan and steps that we take to ensure our Buyer clients get the best deal possible through a relaxed and stress free transaction.
Under Contract Listing Volume

Ocean City 84 properties went under contract in Ocean City during February bringing the YTD total to 164, representing a 5% decrease in activity from this point last year. This decrease can be attributed to the fact that we saw high activity th levels in the 4 quarter of 2012 that ultimately pulled some of the demand from these months. View Ocean City Properties Under Contract Ocean Pines 28 properties went under contract in February bringing the YTD total to 48, which is a 50% increase in activity over this time last year. With this amount of activity and the fact that sold prices have been up in Ocean Pines for several consecutive it is safe to say that the Ocean Pines market has stabilized. View Ocean Pines Properties Under Contract
121
Ocean City Under Contract Listing Volume

111 109 117 101 90 103 95 94 92 101 103
120
86
104
106 85 91
88
84
82
79
72
71
69
71
77
69
80 60 40 20 0
67
57
57
69
Ocean Pines Under Contract Listing Volume

50 45 40 35 30 25 20 15 10 5 0
35 34 35 34
47
31
32
30
28
29
30
31
52 21 24 25 20 18 14 17 334 324 326 324 309 322 334 295 290 292 301 183 6 20 272 241 272 289 285 267 287 264 265 237 239 221 232 243 254 264 28
27
23
22
23
27
21
22
20
17
17
15
16
Under Contract Listing Prices

Ocean City The average and median price of properties that went under contract during February in Ocean City were $289,000 and $246,000 respectively. 45 of the pending properties this month were between $60,000 and $250,000 which is keeping this value down. Ocean City Under Contract Listing Prices
600 550 500 450 400 350 300 250 200 150 100
406 418
395
381
382
396
17
377
363
375
379
350
340
327
330
339
351
380
314
310
312
326
Ocean Pines The average and median price of properties that went under contract in Ocean Pines during February were $241,000 and $232,000 respectively. This value is all over the place depending on what properties are selling in a given months. If a handful of waterfront properties sell it will be up. If older interior properties are selling then it will be down.
345
400 350
307
291
323
369
Ocean Pines Under Contract Listing Prices

282
266
276
281
264
266
252
252
249
253
242
233
232
242
250 200 150 100
207
243
249
300
257
262
310
19
80
84
100
88

Ocean City and Ocean Pines Market Report Search ALL Listings
Search all of the available area listings based on your specifications through the MLS, which is the same database we utilize.
Just Listed Properties

View new listings and price adjustments that have become available over the most recent 7 day period, broken down by area.
New Listing Volume

Ocean City 134 new properties were listed in February, representing a 15% decrease from February of last year. This brings the YTD total to 186 properties, which down by 11% from this time in 2012. Simply put, there is considerably less inventory coming on the market than previous years leading to increased competition and higher sales prices for the more attractive listings. View Ocean Citys New Listings Ocean City New Listing Volume
300 250
147 267 235 208
195
188
193
178
160
156
158
151
151
146
142
151
137
136
138
141
152 114 75 12 323 359 10 28 284 306 258 311
200 150 100 50 0
163
165
170
183
126
133 112
75
94
21
16
18
Ocean Pines 32 new properties were listed in Ocean Pines during February, which is on pace with February of 2012. These increases over the Winter months are typical for our market and the best selections of properties will be available over the next couple of months. View Ocean Pines New Listings
Ocean Pines New Listing Volume

80
59 55 57
70 60 50
29
55
49
52
67
46
46
48
40
43
123
37
37
35
35
37
33
28
24
26
30
40 30 20 10 0
33
34
35
39
130
131
22
New Listing Prices

Ocean City The average new listing price in Ocean City during February was $323,000 and the median came in at $280,000. There were a good mix of properties listed during the month which helped this value return to normal levels. Ocean City New Listing Prices
600 550 500 450 400 350 300 250 200 150 100
423 413
398
400
388
387
379
381
387
388
374
369
372
377
13
22
362
359
354
354
362
345
349
350
341
341
345
325
336
352
365
23
305
309
297
Ocean Pines The average new listing price in Ocean Pines for February was $272,000 and the median came in at $234,000. The previous months saw a fair amount of waterfront property being listed which caused this value to jump up. February saw a good mix of price ranges listed that brought this value back to normal levels.
500
369
Ocean Pines New Listing Prices

355 358 370 337
332
333
324
335
315
319
314
307
305
303
305
308
324
400
297
293
291
288
291
283
288
273
294
264
264
257
229
200
100 F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F 10 11 12 13
218
300
255
266
272
323
32
134

Ocean City MD Real Estate Market Report

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Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.

New Listing Updates

Active Listing Volume

Ocean City Active Listing Volume

1104 148 362 320

Ocean Pines Active Listing Volume

300 250 200 150 100 50 0

1089 354 316 141

Active Listing Prices

450 400 350 300 250

Ocean Pines Active Listing Prices

300 250 200 F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F 10 11 12 13

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Recently Sold Listings

Sold Listing Volume

Ocean Pines Sold Listing Volume

Sold Listing Prices

Ocean City Sold Listing Prices

Avg. Price Med. Price

450 400 350 300 250 200 150 100

Ocean Pines Sold Listing Prices

Avg. Price Med. Price 3 per. Mov. Avg. (Avg. Price)

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Foreclosures and Short Sales

Sold Price/Sq. Ft.

300 250 200 150 100

Ocean Pines Sold Price/Sq. Ft.

Ocean Pines Absorption Rates

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Sold to List Price Ratios

Ocean City Sold to List Price Ratio

92% 90% 88% 86% 84% 82% 80%

100% 98% 96%

Ocean Pines Sold to List Price Ratio

88% 86% 84% 82% 80%

Average Days on Market

Ocean Pines Avg. Days on Market

250 200 150

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Buyer Action Plan

Under Contract Listing Volume

Ocean City Under Contract Listing Volume

Ocean Pines Under Contract Listing Volume

Under Contract Listing Prices

Ocean Pines Under Contract Listing Prices

250 200 150 100

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Just Listed Properties

New Listing Volume

152 114 75 12 323 359 10 28 284 306 258 311

200 150 100 50 0

Ocean Pines New Listing Volume

New Listing Prices

Ocean Pines New Listing Prices

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