Notice: We are currently in the process of converting to a new MLS System. During the transition, some of the features of Kennington Realty’s Market Report might not be accessible or the same as you have been used to. We are looking forward to this new system and anticipate that it will offer our clients an abundance of valuable information. Please bear with us as we “tweak” our Market Report over the next couple of weeks to provide the best and most informative report we can.
Below is our Weekly Ocean City Real Estate Market Report for the week of June 7 – June 13.
New Listings in Ocean City Maryland
Twenty-three properties came on the market last week in Ocean City Maryland with an average list price of $300,600.
Under Contract in Ocean City Maryland
Last week thirty-four properties went under contract in Ocean City Maryland. The average time on market before going pending was 3.5 months. The average list price of these properties was $446,400. Nine properties where on the market 30 days or less.
Sold Listings in Ocean City Maryland
Sixteen properties sold last week in Ocean City with an average sales price of $279,000. The average time on market was 2.5 months and they sold for 93.8% of the list price.
Condos and Homes for Sale in Ocean City Maryland
Currently, there are 794 active listings in Ocean City, which includes condos, single family houses, townhomes and duplexes. Short Sales and foreclosures in Ocean City make up 3.1% of available residential properties. Mortgage rates were around 4.675% on a 30 year fixed conventional loan.
To receive the Weekly Ocean City Market Report, email Corey@kenningtonrealty.com and place “Ocean City Market Report” in the subject line.
This report is offered free of charge by Kennington Realty A Buyer’s Agent, please consider using our services for your next real estate purchase.
Information compiled by Kennington Realty Inc. is deemed to be reliable but is not guaranteed © 2016 MLS and FBS. Based on information from the Coastal Association of Realtors® for the period 6/7/18 through 6/13/18