ocean city real estate report - jan. 2015

8/10/2019 Ocean City Real Estate Report - Jan. 2015

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J F M A M J J A S O N D12


J F M A M J J A S O N

Ocean CityThere are currently 990 properties for sale inOcean City, which is down by 8% from lastmonth and up by 2% over the 971 propertiesthat were on the market this time last year.

Search All Ocean City Listings

Ocean PinesThere are currently 171 properties for sale inOcean Pines, which is down by 17% from lastmonth and the exact same as it was this timelast year.

Search All Ocean Pines Listings

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Ocean CityThe average active listing price in Ocean Cityduring 2014 was $345,000, which was virtuallyunchanged from the 2013 average listing priceof $348,000. 3

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Ocean PinesThe average active listing price in Ocean Pinesduring 2014 was $330,000, which was up by2% over the 2013 average listing price of$322,000.

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J F M A M J J A S O N D

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Ocean City975 Ocean City properties went to settlementduring 2014, which was a 2% increase inactivity over the 954 properties that went tosettlement during 2013.

View Ocean City’s Sold Listings

Ocean Pines301 Ocean Pines properties went to settlementduring 2014, which was up slightly over the 297properties that went to settlement in OceanPines during 2013.

View Ocean Pines’ Sold Listings 1 6

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J F M A M J J A S O N1

Ocean CityThe average sold listing price for the year inOcean City was $281,000, which was down by5% from the 2013 average sold listing price of$297,000. The median sold listing price inOcean City during 2014 was $239,000, whichwas down by 3% from the 2013 median soldlisting price of $247,000.

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Ocean PinesThe average sold listing price in Ocean Pinesduring 2014 was $243,000, which was upslightly over the 2013 average sold listing priceof $240,000. The median sold listing price inOcean Pines for 2014 was $198,000, whichwas down by 7% from the 2013 median soldlisting price of $212,000.

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Ocean CityThe average sold price per square foot for theyear in Ocean City was $244, which was downby 5% from the 2013 average sold price persquare foot of $257.

Ocean PinesThe average sold price per square foot inOcean Pines during 2014 was $148, which wasup by 8% over the 2013 average sold price persquare foot of $137.

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Ocean CityThe absorption rate in Ocean City currentlystands at 12 months, which is the same as itwas at this point in 2013.

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Ocean PinesThe absorption rate in Ocean Pines currentlystands at 7 months, which is down by 1 monthfrom where it was this time last year. 8 8

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Ocean CityProperties that went to settlement in OceanCity during 2014 sold on average at 95% of thelisting price, which was a one-pointimprovement over the 2013 sold to list priceratio of 94%.

Ocean PinesProperties that went to settlement in OceanPines during 2014 sold on average at 96% ofthe listing price, which was a one-pointimprovement over the 2013 sold to list priceratio in Ocean Pines of 95%.

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Ocean CityOcean City properties that sold during 2014averaged 177 days on market, which was upover the 138 days sold properties averaged onthe market in 2013. 2

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Ocean PinesProperties that sold in Ocean Pines during2014 averaged 122 days on the market, whichwas down from the 134 days sold properties inOcean Pines averaged on the market in 2013.

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Ocean City A total of 1022 properties went under contractin Ocean City during 2014, which was virtuallyunchanged from the 1021 properties that wentunder contract in Ocean City during 2013.

View Ocean City’s Under Contract Listings

Ocean Pines353 properties went under contract in OceanPines during 2014, which was a 12% increasein activity over the 316 Ocean Pines propertiesthat went under contract during 2013.

View Ocean Pines’ Under Contract Listings 1 9

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Ocean CityThe average price of properties that went undercontract in Ocean City during 2014 was$293,000, which was down by 4% from the2013 average pending listing price of $306,000.

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Ocean PinesThe average price of properties that went undercontract in Ocean Pines during 2014 was$255,000, which was a 3% increase over the2013 average pending listing price of $248,000. 2

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Ocean City1581 properties were listed in Ocean Cityduring 2014, which was down by 3% from the1632 properties that were listed in 2013.

View Ocean City’s New Listings

Ocean Pines469 properties were listed in Ocean Pinesduring 2014, which was up by 8% over the 436properties that were listed in 2013.

View Ocean Pines New Listings

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Ocean CityThe average new listing price in Ocean Cityduring 2014 was $333,000, which was virtuallyunchanged from the 2013 average new listingprice of $337,000. 3

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Ocean PinesThe average price of new listings in OceanPines during 2014 was $308,000, which wasup by 3% over the 2013 average new listingprice of $300,000.

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ocean city real estate report - jan. 2015

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