Weekly Ocean City Real Estate Market Report for the week of November 1 – November 7.
New Listings in Ocean City Maryland
Twenty-eight properties came on the market last week in Ocean City Maryland with an average list price of $339,400.
Under Contract in Ocean City Maryland
Last week twenty-two properties went under contract in Ocean City Maryland. The average time on market before going pending was 3.6 months. The average list price of these properties was $293,900. Five properties where on the market 30 days or less.
Sold Listings in Ocean City Maryland
Twenty-one properties sold last week in Ocean City with an average sales price of $275,400. The average time on market was 5.2 months and they sold for 95.4% of the list price.
Condos and Homes for Sale in Ocean City Maryland
Currently, there are 779 active listings in Ocean City, which includes condos, single family houses, townhomes and duplexes. Short Sales and foreclosures in Ocean City make up 1.2% of available residential properties. Mortgage rates were around 5% on a 30 year fixed conventional loan.
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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 11/1/18 through 11/7/18.