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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

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Active Listing Volume

Ocean City There are currently 1126 properties for sale in Ocean City, representing a 17% decrease from this point last year. We are now resuming the descent in this value as the spring inventory has come on the market, some of which is starting to go under contract. Search All Ocean City Listings
1885 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

2000 1800 1600 1400 1200 1000 800 600 400 200 0

1287

1231

1196 1198

1183

1126

1167 155 351 321

1190 146 336 350

1104

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 M A M 10 11 12 13

Ocean Pines There are currently 185 condos, homes and townhomes for sale in Ocean Pines, which is roughly the same volume as May of last year. This increase is the result of the fact that May is traditionally the largest month for new listings in Ocean Pines as sellers list their properties in anticipation of the upcoming buying season. Search All Ocean Pines Listings

Ocean Pines Active Listing Volume

304 299 286 295

350 300 250 200 150 100 50 0

314

278

269

259

258

268

254

256

238

240

246

225

224

232

214

192

192

189

188

188

186

185

191

1089

1114

172

179

184

168

148

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 M A M 10 11 12 13

Active Listing Prices

Ocean City The current average active listing price in Ocean City is $353,000 and the median came in at $280,000. Both of these values have remained relatively flat since the beginning of the year. This is a reassuring sign as there has been a lot of activity in the market at these price points. Ocean City Active Listing Prices
550 500
398 395 392 395 397 388 392 386 385 383 382 386 382 380 381
Avg. Price Med. Price 3 per. Mov. Avg. (Avg. Price)

450 400 350 300 250

378

377

377

377

373

374

376

368

369

366

368

373

364

365

362

362

362

354

141

143

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 M A M 10 11 12 13
Avg. Price Med. Price 3 per. Mov. Avg. (Avg. Price) 3 per. Mov. Avg. (Med. Price)

Ocean Pines The current average and median active listing prices in Ocean Pines are $330,000 and $275,000 respectively. Both of these values are up from May of last year and have been on an upward trend since the beginning of the spring.

Ocean Pines Active Listing Prices

450
355

352

350

349

352

400
340 337

342

332

334

330

335

336

351

328

326

326

325

327

324

322

325

329

321

320

320

322

317

316

320

316

310

300 250 200 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 M A M 10 11 12 13

308

310

350

315

330

353

185

1126

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A Division of The Mark Fritschle Group | Condominium Realty LTD

Ocean City and Ocean Pines Market Report Sold Listing Updates
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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 120 properties sold in Ocean City during May, which is the highest activity level that we have seen in the past 3 years. This represents a 20% increase in activity over May of last year. 402 properties have sold in Ocean City thus far in 2013, representing a 7% increase over the 376 properties that sold by this point in 2012. Positive signs as we head into the summer season. View Ocean Citys May Sold Listings Ocean City Sold Listing Volume
106 109 120 99 99 92 92 86 91 89 81 76 72 70 72 65 60 60 67 49 36 43 55 82 26 22 18 15 17 10
Avg. Price Med. Price

140 120
83 81 80 81 77 82 93 103

60 40 20 0
34

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 M A M 10 11 12 13

57

80

65

70

10

View Ocean Pines April Sold Listings

5 0 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 M A M 10 11 12 13

Sold Listing Prices

Ocean City The average sold price of properties in Ocean City during May was $316,000 and the median price came in at $280,000, both of which are up considerably from May of 2012. It is a positive sign that both values are trending upwards as we approach the busiest time of our year. Ocean City Sold Listing Prices
500
379

450
356 353 355 326 322

337

318

306

305

309

301

304

310

311

299

300

283

282

282

284

280

281

277

268

265

260

270

300 250 200 150 100

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 M A M 10 11 12 13

259

Ocean Pines The average and median sold prices in Ocean Pines during May were $236,000 and $212,000 respectively. A majority of the property that has been selling in Ocean Pines over the past few months has been in the $250,000 and below range. This is great from an activity standpoint, but has had a negative effect on this value. We have seen some improvement over the past few months and is trend that will likely continue.

400 350
277

301

374

Ocean Pines Sold Listing Prices

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

292

294

277

259

262

254

253

257

246

242

243

237

242

251

300 250 200 150

265

270

290

237

275 220

279 217 236

350

292

229

234

224

222

220

215

213

208

214

221

225

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 M A M 10 11 12 13

197

199

293

316

400

345

347

360

10

Ocean Pines 42 properties sold in Ocean Pines during May and as with Ocean City was the highest activity level the OP market has seen in the past 3 years. This brings the 2013 YTD sold total to 113 properties, which is up by 22% from this point in 2012.

Ocean Pines Sold Listing Volume

45 40
28 28 28 27 26 24 42 25 25 25 26 28 25 23 22 22 22 22 23 18 16 14 15 16 13 12 14 20 25

35 30 25 20 15

84

100

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A Division of The Mark Fritschle Group | Condominium Realty LTD

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 Ocean City for May was $256, representing an 8% improvement over May of last year. The trend line has been on a steady ascent since last fall and is another sign of pricing stabilization. Ocean City Sold Price/Sq. Ft.
292

350
276 263

268

268

288

267

263

258

255

248

248

247

241

241

245

246

239

236

236

238

233

228

231

232

225

250 200 150 100

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 M A M 10 11 12 13

Ocean Pines The average sold price per square foot in Ocean Pines during May was $134. With the exception of a couple of spikes and drops as the result of a few outliers, this value has remained in the same relative range for a considerable period of time and is another good indicator of price stability.

250 230 210 190 170 150 130 110 90 70 50

162

165

167

218

Ocean Pines Sold Price/Sq. Ft.

156

162

224

228

233

235

155

152

146

146

152

145

145

142

143

142

146

155

139

139

139

139

138

138

139

140

136

134

136

138

142

156

239

247 126 8

251 132 7

130

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 M A M 10 11 12 13

Absorption Rates
Ocean City The current absorption rate in Ocean City is 15 months, which is up slightly from last month and down by 3 months from May of last year. The slight increase is the result of Sellers who have been holding off from listing their properties are now putting them on the market as it continues to improve. Ocean City Absorption Rates
50 45 40 35 30 25 20 15 10 M J J A S O N D J F M A M J 10 11 J A S O N D J F M A M J 12 J A S O N D J F M A M 13
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 14 14.5 15

Ocean Pines The absorption rate in Ocean Pines currently stands at 8 months. The fact that May is the biggest month for new inventory in Ocean Pines caused this value to increase. Look for the absorption rate to start to decrease again as we head into the summer season.

20 18 16 14 12 10 8 6 4 2 0

18 18

19

18

17 15 15 14 13 13 13 13 13 13 12.5 12

12

122

Ocean Pines Absorption Rates

11

10 8 8

9 8.5 8.5 8

123

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 M A M 10 11 12 13

134 8

256

300

261

263

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A Division of The Mark Fritschle Group | Condominium Realty LTD

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 Not much new to report here property in Ocean City sold for 94% of the listing price during May.
100%
94%

Ocean City Sold to List Price Ratio

94% 94% 94% 95% 94% 94% 94% 95% 126 167 123 93% 93% 93% 93% 93% 93% 93% 93% 93% 93% 93% 93% 93% 92% 92% 92% 92% 92% 92% 92% 92% 92% 92% 92% 92% 93% 95% 145 156 94% 144 95%

98% 96% 94% 92% 90% 88% 86% 84% 82% 80%
91% 91%

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 M A M 10 11 12 13

Ocean Pines Properties selling at 95% of the listing price appears to be the norm in the Ocean Pines market. Keep in mind that this is an average and all Sellers are different. The movement in price will be smaller on the lower priced properties and larger on the higher end listings in most cases.

96%

100%
94%

Ocean Pines Sold to List Price Ratio

95% 95% 95% 95% 95% 95% 95% 95% 81 163 89 40 173 94% 94% 94% 94% 94% 94% 93% 93% 94% 93% 93% 93% 93% 94% 95% 145

98% 96%
91% 90%

89%

88% 86% 84% 82% 80%

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 M A M 10 11 12 13

Average Days on Market

Ocean City Property that sold in Ocean City during May averaged 144 days on the market. For the year sold Ocean City property has averaged 114 days on market. Keep in mind that this is an average, overpriced stuff sits and wellpriced listings in good condition are selling within a couple of weeks. Ocean City Avg. Days on Market
500 450 400 350 300 250 200 150 100 50 0
328 308

86%

90%

87%

88%

92%

89%

90%

94%

296

268

282

91%

259

250

251

257

260

242

241

247

240

225

236

219

225

239

241

213

211

205

178

184

206

177

215

249 117 153 184 94

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 M A M 10 11 12 13

Ocean Pines Ocean Pines property that sold during May averaged 123 days on the market. This decrease is a function of the time of year as well as the fact that a lot of new listings have come on the market over the past couple of months. With the thin inventory in some segments of the market, the better, well-priced listings are selling quickly.

Ocean Pines Avg. Days on Market

233

226

228

221

223

178

186

160

158

169

250 200 150 100 50 0

190

215

300

245

269

350

305

144

138

136

137

138

126

121

126

136

150

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 M A M 10 11 12 13

113

119

155

103

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A Division of The Mark Fritschle Group | Condominium Realty LTD

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 119 properties went under contract in Ocean City during May, representing an 18% increase in activity over May of last year. The Ocean City market has seen great activity over the last few months and that trend is continuing. View Ocean City Properties Under Contract
121 109 117 119 106 85 91 69 52 80 84 101 25 28 24 20 334 6 20 25 324 250 322 292 301 35 324 17 289 287 265 254 264 272 272 252 284 183 241 38 245 290

140
103

126

104

101

95

94

92

101

120
88 79

103

84

82

72

71

69

71

77

100 80 60 40 20 0

88

57

57

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 M A M 10 11 12 13

Ocean Pines 38 properties went under contract in Ocean Pines during May, which is the highest activity level that the OP market has seen in the past 3 years. This is a trend that appears will continue with 8 properties already under contract through the first few days on June. View Ocean Pines Properties Under Contract

Ocean Pines Under Contract Listing Volume

50 45 40 35 30 25 20 15 10 5 0
35 34 35 34

47

69

31

32

30

27

29

23

22

23

27

21

22

30

31

20

19

17

17

16

17

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 M A M 10 11 12 13

Under Contract Listing Prices

Ocean City The average price of properties in Ocean City that went under contract during May was $290,000 and the median came in at $250,000. In looking at the values over the past year this would be a normal month with a good mix of property types selling. In the months where there is a spike in the low 300k range there are a handful of higher end listings selling that cause the increase. Ocean City Under Contract Listing Prices
600 550 500 450 400 350 300 250 200 150 100
418

395

382

396

377

363

375

379

340

339

351

380

327

330

326

334

14

18

314

310

312

310

324

326

309

21

90

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 M A M 10 11 12 13

Ocean Pines The average and median price of properties that went under contract in Ocean Pines during May was $245,000 and $235,000 respectively. The median saw a bit of improvement as a better mix of property types and sizes are selling.

400
291

276

282

350 300 250 200 150 100

307

323

369

Ocean Pines Under Contract Listing Prices

281

266

264

266

257

249

253

243

249

262

264

267

285

290

242

242

233

232

237

239

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 M A M 10 11 12 13

207

221

232

243

295

133

Ocean City Under Contract Listing Volume

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A Division of The Mark Fritschle Group | Condominium Realty LTD

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 119 new properties were listed in Ocean City during May, which is a considerable decrease from previous months. Obviously there are always new listings coming on the market, however the bulk of the serious Sellers now have their properties on the market. View Ocean Citys New Listings Ocean City New Listing Volume
300
208 195 193 200 138 141 152 133 130 131 123 134 112 114 75 43 37 35 39 40 22 23 12 10 28 32 30 188 189 35 314 342 302 408 323 311 323 284 359 306 258 272 323 305 55 46 37 40 35 33 22 18 388 387 388 377 13 26 34 48 354 354 362 341 345 325 336 305 309 297 352 358 370 335 305 308 324 337 297 291 283 288 273 264 257 218 255 266 294 365 119

250 200 150 100 50 0

178

163

165

170

160

151

156

151

146

137

136

126

142

75

94

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 M A M 10 11 12 13

Ocean Pines 55 new properties were listed in Ocean Pines during May. This increase is not unusual as you will see May is traditionally the biggest month of the year for new listings in the OP market. This is a good thing for the Ocean Pines market as inventory has gotten thin and picked over in some segments. View Ocean Pines New Listings

Ocean Pines New Listing Volume

80
55 57

70 50 40 30 20 10 0
46

60

55

35

33

28

24

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 M A M 10 11 12 13

New Listing Prices

Ocean City The average new listing price in Ocean City during May was $408,000 and the median came in at $305,000. The average value is skewed a bit as there were a couple of multimillion dollar homes listed during the month, however the median value trend line has been on a steady increase since the beginning of the year and is another reassuring sign. Ocean City New Listing Prices
600 550 500 450 400 350 300 250 200 150 100
423 413

400

387

16

21

37

52

379

374

369

359

349

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 M A M 10 11 12 13

Ocean Pines The average and median new listing prices in Ocean Pines during May were $302,000 and $291,000 respectively. Both of these values are up considerably from May of last year and the median value has seen steady improvement since the beginning of the year.

500
369

341

Ocean Pines New Listing Prices

355

324

319

307

305

303

293

288

200

100 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 M A M 10 11 12 13

229

300

264

291

314

400

350

372

381

67

151

158

183