ocean city md real estate market report - sept. 2013
DESCRIPTION
Statistics, data and analysis of the Ocean City and Ocean Pines real estate marketsTRANSCRIPT
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Ocean City Active Listing Volume Ocean City There are currently 997 properties for sale in Ocean City, representing a 17% decrease from this point last year. Search All Ocean City Listings
Ocean Pines There are currently 199 properties for sale in Ocean Pines, which is down by 8% from last month and on pace with this point in 2012. Search All Ocean Pines Listings
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Ocean Pines Active Listing Volume
Ocean City The current average price of active listings in Ocean City is $351,000 and the median value came in at $280,000. We have seen some improvement in this value over the past few months as a lot of the lower end listings that pull this value down have sold and come off the market.
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Ocean City Active Listing Prices Avg. PriceMed. Price3 per. Mov. Avg. (Avg. Price)
Ocean Pines The average active listing price in Ocean Pines is currently $327,000 and the median price is $250,000. The average listing price has remained relatively flat for the past few months and is a reassuring sign as we head into the fall.
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Ocean Pines Active Listing Prices Avg. PriceMed. Price3 per. Mov. Avg. (Avg. Price)3 per. Mov. Avg. (Med. Price)
Active Listing Prices
Active Listing Volume
Ocean City and Ocean Pines Market Report
Direct: 443-614-9179 Email: [email protected]
Web: oceancitycondosandhomes.com
New Listing Updates Sign up for email updates with new listings and price adjustments
for the type of properties you are looking for
Search All Area Listings We provide the most advanced consumer search available that is
linked directly to the Multiple Listing Service that we use.
A Division of The Mark Fritschle Group | Condominium Realty LTD
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Ocean City Sold Listing Volume Ocean City 94 properties went to settlement in Ocean City during the month, which is up slightly from September of last year. For the year a total of 742 properties have sold, representing a 2% increase in activity over the 727 properties that had gone to settlement by this point in 2012. View Ocean City’s September Sold Listings
Ocean Pines 25 properties went to settlement in Ocean Pines during September, representing an 67% increase in activity over September of 2012. For the year a total of 231 properties have gone to settlement in Ocean Pines, which is a 28% increase in activity over this point in 2012. View Ocean Pines’ September Sold Listings
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Ocean Pines Sold Listing Volume
Ocean City The average sold price in Ocean City for September was $306,000 and the median sold price came in at $240,000. This brings the average sold price for the year in Ocean City to $299,000, representing a 4% price increase over this point last year.
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Ocean City Sold Listing Prices Avg. PriceMed. Price
Ocean Pines The average sold price for property in Ocean Pines during September was $246,000 and the median price came in at $208,000. This brings the average sold price for the year to $243,000, which is up slightly from the average sold price of $240,000 through this point last year.
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Ocean Pines Sold Listing Prices Avg. PriceMed. Price3 per. Mov. Avg. (Avg. Price)
Sold Listing Prices
Sold Listing Volume
Ocean City and Ocean Pines Market Report
Direct: 443-614-9179 Email: [email protected]
Web: oceancitycondosandhomes.com
Recently Sold Listings Sold Listing Updates View Multiple Listing Service reports of the properties that have sold over the most recent 90 day period, broken down by area.
Sign up to get email updates when properties sell in areas that are of interest to you, based on your specifications.
A Division of The Mark Fritschle Group | Condominium Realty LTD
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Ocean City Sold Price/Sq. Ft. Ocean City The average sold price per square foot in Ocean City for September was $261. This bring the average sold price per square foot for the year to $256, representing a 9% increase through this point in 2012.
Ocean Pines The average sold price per square foot in Ocean Pines during September was $144, which is up by 3% from September of last year. This is good news considering their were no higher end sales in the month and most of the sold transactions were in the middle and lower price ranges.
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Ocean Pines Sold Price/Sq. Ft.
Ocean City The absorption rate (number of months to work through the inventory at current activity levels) in Ocean City currently stands at 11 months. Now that the fall inventory is on the market and activity is still strong I would look for this value to drop another month or two before the end of the year.
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Ocean City Absorption Rates
Ocean Pines The absorption rate in Ocean Pines currently stands at 7 months, representing a 2 month improvement over September of last year. As with Ocean City I would look for this value to improve in the coming months as the Fall inventory gets absorbed.
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Ocean Pines Absorption Rates
Absorption Rates
Sold Price/Sq. Ft.
Ocean City and Ocean Pines Market Report
Direct: 443-614-9179 Email: [email protected]
Web: oceancitycondosandhomes.com
Foreclosures and Short Sales Distressed Listing Updates View all of the foreclosure and short sale listings currently available
in Ocean City, Ocean Pines, Berlin and West Ocean City. 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.
A Division of The Mark Fritschle Group | Condominium Realty LTD
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Ocean City Sold to List Price Ratio Ocean City Property in Ocean City is currently selling at 95% of the list price. This value has seen considerable improvement since the beginning of the year and is a trend that will continue with inventory levels decreasing.
Ocean Pines The average sold to list price ratio for the Ocean Pines market during September was 96%, which is a 3 point improvement over September of last year. This value will continue to improve as inventory continues to decrease and competition increases for the more attractive listings.
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Ocean Pines Sold to List Price Ratio
Ocean City Property that sold in Ocean City during September averaged 111 days on the market. These are some of the lowest values that we have seen in the past 3 years. This is largely fueled by the fact that we are seeing more and more well priced listings in good condition go under contract within a couple of weeks of being listed.
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Ocean City Avg. Days on Market
Ocean Pines Property listings that sold in Ocean Pines during September averaged 118 days on the market. For the year, sold Ocean Pines property has averaged 144 days on the market, which is a considerable improvement over the 166 days it was averaging through this point in 2012.
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Ocean Pines Avg. Days on Market
Average Days on Market
Sold to List Price Ratios
Ocean City and Ocean Pines Market Report
Direct: 443-614-9179 Email: [email protected]
Web: oceancitycondosandhomes.com
Selling Real Estate Property Valuation View our comprehensive marketing plan that we utilize to get our clients the highest price possible in the shortest amount of time.
Fill out our quick property information form and we will email you a comprehensive valuation report for your home or condo.
A Division of The Mark Fritschle Group | Condominium Realty LTD
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Ocean City Under Contract Listing Volume Ocean City 74 Ocean City properties went under contract in September, which is down by 13% from September of last year. Part of this decrease is attributed to the fact that inventory has gotten thin in some segments of the market and Buyers can’t find what they want. It also appears that the market will stay strong through the end of the year, spreading out some of this demand. View Ocean City Properties Under Contract
Ocean Pines 33 properties went under contract in Ocean Pines during September, representing a 38% increase in activity over September of last year. For the year a total of 262 properties have gone under contract, representing an overall 16% increase over this point in 2012. View Ocean Pines Properties Under Contract
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Ocean Pines Under Contract Listing Volume
Ocean City The average price of properties that went under contract in Ocean City during September was $334,000 and the median price was $275,000. We have seen some improvement in this value over the past couple of months and considerable improvement since the beginning of the year as a better mix of property types and price ranges has been selling.
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Ocean City Under Contract Listing Prices
Ocean Pines The average price of properties that went under contract in Ocean Pines during September was $264,000 and the median price came in at $224,000. This group of pending properties was a good mix of property types and is above the price range of previous months with similar sale mixes.
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Ocean Pines Under Contract Listing Prices
Under Contract Listing Prices
Under Contract Listing Volume
Direct: 443-614-9179 Email: [email protected]
Web: oceancitycondosandhomes.com
Ocean City and Ocean Pines Market Report
Useful Buying Information Buyer Action Plan View a series of articles and videos that we have put together which
explain and outline the various phases of buying real estate. 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.
A Division of The Mark Fritschle Group | Condominium Realty LTD
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Ocean City New Listing Volume Ocean City 136 new listings came on the market in Ocean City during September, which was on pace with September of last year. It is not unusual to see an influx of new listings this time of year as the rental season is essentially over and Sellers begin putting them on the market. View Ocean City’s New Listings
Ocean Pines 32 new properties were listed in Ocean Pines during September, which is up from September of last year. As you can see the next few months will be slow in terms of new listings for the Ocean Pines market. This is a good thing as there is currently a lot of activity in Ocean Pines, which will help reduce the overall inventory level. View Ocean Pines New Listings
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Ocean Pines New Listing Volume
Ocean City The average new listing price in Ocean City for September was $325,000 and the median price was $267,000. Over half of the properties listed during the month were $250,000 or less, which caused the drop in this value. Look for this value to rebound in the coming months as a better mix of property types and price ranges comes on the market.
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Ocean City New Listing Prices
Ocean Pines The average price of new listings in Ocean Pines during September was $360,000 and the median price was $245,000. These are some of the highest prices that we have seen over the past 3 years. There were a few higher end listings put on the market, but by in large it represents a good mix of property types and price ranges.
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Ocean Pines New Listing Prices
New Listing Prices
New Listing Volume
Ocean City and Ocean Pines Market Report
Direct: 443-614-9179 Email: [email protected]
Web: oceancitycondosandhomes.com
Just Listed Properties Search ALL Listings Search all of the available area listings based on your specifications
through the MLS, which is the same database we utilize. View new listings and price adjustments that have become available
over the most recent 7 day period, broken down by area.
A Division of The Mark Fritschle Group | Condominium Realty LTD