Ocean City Real Estate Market Report

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D J F M A M J J A S O N
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Ocean City Active Listing Volume
Ocean City
There are currently 1006 homes, condos and
townhomes for sale in Ocean City,
representing a 11% decrease in inventory from
this point last year. This value has been
relatively flat the past few months, which isnt a
bad thing considering 411 new properties have
been listed during this time.

Search All Ocean City Listings
Ocean Pines
There are currently 177 properties for sale in
Ocean Pines, which is down by 9% from last
month and up slightly from this point last year.

Search All Ocean Pines Listings
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0
50
100
150
200
250
300
N
10
11
12
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Ocean Pines Active Listing Volume
Ocean City
The average new listing price in Ocean City for
November was $36,000 and the median price
was $285,000. This brings the average new
listing price for the year to $350,000, which is
down by 5% from 2012. As you can see the
median price has stayed flat for the past year
and most of the decrease we have seen in the
average price is attributed to the fact that there
are considerably lees higher end listings on the
market.
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250
300
350
400
450
500
550
N
10
11
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Ocean City Active Listing Prices
Avg. Price
Med. Price
3 per. Mov. Avg. (Avg. Price)
Ocean Pines
The average active listing price in Ocean Pines
is currently $309,000 and the median price is
$250,000. Over half of the inventory in Ocean
Pines is currently $250,000 or less with only a
handful of higher end homes currently
available leading this value to decrease for the
month.
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200
250
300
350
400
450
N
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11
12
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Ocean Pines Active Listing Prices
Avg. Price
Med. Price
3 per. Mov. Avg. (Med. Price)
Active Listing Prices
Active Listing Volume

Occan Ci|v and Occan Pincs Markc| Rcpor|
Direct: 443-614-9179
Email: ocnick55@gmail.com
Web: oceancitycondosandhomes.com

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N
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Ocean City Sold Listing Volume
Ocean City
67 Ocean City properties went to settlement in
November bringing the total for the year to 897,
which is a slight increase in activity over the
888 properties that sold through this point last
year. Things naturally slow down in our market
during the winter/holiday months. This slow
down is also partially attributed to the fact that
inventory has gotten thin in some areas and
Buyers cant find what they want.
View Ocean Citys November Sold Listings
Ocean Pines
27 properties went to settlement in Ocean
Pines during November, representing a 50%
increase in activity over November if last year.
For the year a total of 280 properties have
gone to settlement in Ocean Pines compared
to 221 through this point in 2012, which is a
27% increase in activity.

View Ocean Pines November Sold Listings
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45
N
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13
Ocean Pines Sold Listing Volume
Ocean City
The average price of properties that went to
settlement in Ocean City during November was
$307,000. This brings the average sold price
for the year to $300,000, representing a 5%
year over year price increase through this point
in 2012.
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100
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250
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350
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450
500
N
10
11
12
13
Ocean City Sold Listing Prices
Avg. Price
Med. Price
Ocean Pines
The average sold price for Ocean Pines
property that settled in November was
$218,000. 23 of the 27 sales for the month
were $250,000 with few higher end sales to
offset that, ultimately leading this value to drop
considerably for the month. This brings the
average sold price for the year to $243,000,
which is on pace with the $245,000 value
through this point in 2012.
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150
200
250
300
350
400
N
10
11
12
13
Ocean Pines Sold Listing Prices
Avg. Price
Med. Price
Sold Listing Prices
Sold Listing Volume
Direct: 443-614-9179

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11
12
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Ocean City Sold Price/Sq. Ft. Ocean City
The average sold price per square foot for
property that settled in November was $265,
which is up by 11% over November of last
year. The average sold price per square foot
for the year in Ocean City is $259, representing
a 10% increase in this value through this point
in 2012.
Ocean Pines
The average sold price per square foot in
Ocean Pines during November was $137 and
decreased for the same reasons as outlined
above. This brings the average sold price per
square foot for the year to $139, which is down
slightly from the $143 value through this point
in 2012.
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50
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Ocean Pines Sold Price/Sq. Ft.
Ocean City
The absorption rate in Ocean City currently
stands at 12 months. This value will stay flat
for the next month or so as we work through
the slower winter months and then resume its
descent as activity picks back up after the first
of the year.
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0
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Ocean City Absorption Rates
Ocean Pines
The absorption rate in Ocean Pines is currently
7 months, where it has been now for several
months. I would look for this value to begin to
decrease again in the coming months as the
volume of new listings decreases and Buyer
activity remains strong.
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N
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Ocean Pines Absorption Rates
Absorption Rates
Sold Price/Sq. Ft.
Direct: 443-614-9179

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80%
82%
84%
86%
88%
90%
92%
94%
96%
98%
100%
N
10
11
12
13
Ocean City Sold to List Price Ratio
Ocean City
Property in Ocean City is currently selling at
94% of the listing price. We tend to see a
decrease in this value during the holiday
months as activity decreases a bit and Sellers
tend to be a bit more negotiable as a result.
Ocean Pines
Ocean Pines property is currently selling at
96% of the listing price. This value will
continue to improve as inventory decreases
and competition increases for the more
attractive listings.
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9
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9
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%

9
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%

80%
82%
84%
86%
88%
90%
92%
94%
96%
98%
100%
N
10
11
12
13
Ocean Pines Sold to List Price Ratio
Ocean City
Property that sold in Ocean City during
November averaged 141 days on the market,
bringing the average for the year to 138 days.
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1
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1
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4

1
1
1

1
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9

1
4
1

0
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100
150
200
250
300
350
400
450
500
N
10
11
12
13
Ocean City Avg. Days on Market
Ocean Pines
Property that sold in Ocean Pines during
November averaged 89 days on the market.
As mentioned above, competition amongst
Buyers increases with a thinning inventory.
This leads to the more attractive listings going
under contract within a few days of coming on
the market.
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9
2

1
6
4

1
0
9

1
1
8

1
2
9

8
9

0
50
100
150
200
250
300
350
N
10
11
12
13
Ocean Pines Avg. Days on Market
Average Days on Market
Sold to List Price Ratios
Direct: 443-614-9179

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0
20
40
60
80
100
120
140
N
10
11
12
13
Ocean City Under Contract Listing Volume
Ocean City
55 properties went under contract in Ocean
City during November, which is down from
November of last year. Part of this is being
fueled by the fact that inventory is thin in
several segments of the market. I have
numerous clients that are ready to purchase,
but there is nothing currently available that
matches their specifications.

View Ocean City Properties Under Contract
Ocean Pines
19 properties went under contract in Ocean
Pines during November, which was on pace
with November of last year. A total of 307
properties have gone under contract in Ocean
Pines thus far this year, representing a 14%
increase in activity over the 270 properties that
were under contract through this point in 2012.

View Ocean Pines Properties Under Contract
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2
7

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9

1
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3
2
3
5

3
1

2
1

3
4

1
7

2
4

2
5

2
0

6

2
0

2
8

2
5

3
5
3
8

2
5

3
5

2
3

3
3

2
6

1
9

0
5
10
15
20
25
30
35
40
45
50
N
10
11
12
13
Ocean Pines Under Contract Listing Volume
Ocean City
The average price of properties that went
under contract in November was $294,000 and
the median value came in at $241,000. Close
to half of the properties that went under
contract during the month were $200,000 or
below, which caused the decrease in this
value.
3
9
6

3
7
5

3
2
7

3
1
4

3
1
0

3
3
0
3
7
9

3
3
9

3
5
1

2
8
1

3
1
2

3
8
0

3
2
6

3
1
0

3
3
4

3
2
4

3
2
6

2
8
5

3
0
9

2
9
0

2
9
5

3
2
4

3
2
2

2
9
2
3
3
4

3
0
1

2
7
2

2
8
9

2
8
4

3
2
4

2
9
0
3
4
0

3
4
4

3
1
2

3
3
4

3
0
2

2
9
4

100
150
200
250
300
350
400
450
500
550
600
N
10
11
12
13
Ocean City Under Contract Listing Prices
Ocean Pines
The average price of properties that went
under contract in Ocean Pines during
was $200,000.
2
7
6

3
2
3

3
6
9

2
5
3
2
8
2

2
4
2

2
3
2

2
4
2

2
6
4

2
0
7

2
6
6

2
4
3

2
4
9

2
6
2

2
3
7
2
6
4

2
3
9
2
6
7

2
2
1

2
3
2

2
4
3

2
5
4

2
8
7

2
6
5

2
6
4

1
8
3

2
7
2

2
4
1

2
5
2

2
5
0

2
4
5

2
9
0

2
6
2

2
4
3

2
6
4

2
3
5

2
3
6

100
150
200
250
300
350
400
N
10
11
12
13
Ocean Pines Under Contract Listing Prices
Under Contract Listing Prices
Under Contract Listing Volume
Direct: 443-614-9179

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1
4
6

7
5

1
3
7
1
7
0

1
8
8

1
9
3

1
6
0

1
5
6

1
3
6

1
2
6

1
4
2

1
5
1

9
4

6
7

1
5
1

1
5
8

1
8
3

1
3
8

1
3
3

1
1
2

1
2
3

1
3
0

1
3
1

1
4
1

1
1
4

7
5

1
5
2

1
3
4

2
0
0

1
8
9

1
1
9

9
3
1
1
4

1
4
9

1
3
6

1
5
2

1
2
3

0
50
100
150
200
250
300
N
10
11
12
13
Ocean City New Listing Volume
Ocean City
123 new properties were listed in Ocean City
during November, which was up slightly from
November of last year. A total of 1561
properties have been listed thus far in 2013,
which is up slightly from the 1514 properties
that were listed through this point in 2012.

View Ocean Citys New Listings
Ocean Pines
25 new properties were listed in Ocean Pines
during November, which was up considerably
from November of last year. This isnt a bad
thing as the Ocean Pines market could use the
inventory. When you pull out the bad and over
priced listings in Ocean Pines there really isnt
that much to choose from in several segments
of the market.

View Ocean Pines New Listings
2
4

1
6
2
1

3
7

5
2
5
7

4
6

3
7

4
0

3
3

3
5

2
2

1
8

1
3

2
6

3
4

4
8

3
0

4
3

3
7

3
5

3
9

2
2

2
3

1
2

1
0

2
8

3
2

4
0

3
5

5
5

3
4

5
4

5
6

3
2

3
4

2
5

0
10
20
30
40
50
60
70
80
N
10
11
12
13
Ocean Pines New Listing Volume
Ocean City
The average price of the new listings in
was $255,000. This brings the average new
listing price for the year to $340,000, which is
up by 3% over the $330,000 value through this
point in 2012.
4
1
3

3
5
9

3
4
1

3
7
4

3
5
0

3
7
2

3
8
1

3
8
8

3
8
7

3
8
8

3
5
4

3
7
7

3
4
1

3
0
5

3
2
5

3
5
4

3
4
5

3
3
6

3
6
2

3
0
9

2
9
7

3
5
2

2
9
7

3
6
5

2
8
4

3
2
3

3
1
1

3
2
3

3
0
5

3
4
2

4
0
8

3
4
1

3
7
2

3
9
4

3
2
5

3
2
9

2
8
9

100
150
200
250
300
350
400
450
500
550
600
N
10
11
12
13
Ocean City New Listing Prices
Ocean Pines
The average price of new properties listed in
Ocean Pines during November was $336,000
and the median price was $270,000. This
brings the average new listing price for the
year to $306,000, representing a 5% price
increase over the 2012 value of $292,000.
3
0
3

2
9
3

2
6
4

2
9
1

3
1
9

3
1
4
3
5
5

2
6
4

3
5
8

3
7
0

2
9
1

2
8
3

2
1
8

2
8
8

3
3
5

2
7
3

2
5
7

3
0
5

2
5
5

3
0
8

3
2
4

3
3
7

2
6
6

2
9
4

2
5
8

3
5
9

3
0
6

2
7
2

3
2
3

3
1
4

3
0
2

2
8
3

3
3
5

2
8
5

3
6
0

2
8
0

3
3
6

100
200
300
400
500
N
10
11
12
13
Ocean Pines New Listing Prices
New Listing Prices
New Listing Volume
Direct: 443-614-9179

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