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May 16th Ocean City Real Estate Market Report

May 16, 2024

Below is our Weekly Ocean City Real Estate Market Report for the week of May 9 – May 15.

New Listings in Ocean City Maryland

Twenty-five properties came on the market last week in Ocean City Maryland with an average list price of $510,600.

Click to see New Listings this week in Ocean City

Under Contract in Ocean City Maryland

Last week twenty-three properties went under contract in Ocean City Maryland. The average time on the market before going pending was 72 days. The average list price of these properties was $574,200. Twelve properties were on the market 30 days or less.

Click to see Under Contract this week in Ocean City

Sold Listings in Ocean City Maryland

Twenty-nine properties sold last week in Ocean City with an average sales price of $511,900. The average time on the market was 36 days and they sold for 98.1% of the list price.

Click to see what Sold this week in Ocean City

Condos and Homes for Sale in Ocean City Maryland

Currently, there are 371 active listings in Ocean City, which includes condos, single family houses, town homes and duplexes.  Short Sales and foreclosures in Ocean City make up 0.3% of available residential properties. Mortgage rates were around 7.125% on a 30-year fixed conventional loan.

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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 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 5/9/24 through 5/15/24.

About Corey Kennington

Corey has been helping home buyers save time, money and effort in Salisbury and Ocean City Maryland since 1995. Prior to working as an Exclusive Buyer’s Agent (EBA) Mr. Kennington was a real estate appraiser with a prominent Lower Shore appraisal firm WR McCain Appraisals. He is a trained realtor who is dedicated to finding his clients the best home at the best price. And, because he only represents buyers, he is a crucial asset in today’s competitive real estate market. He serves as a trusted and knowledgeable partner, helping his clients understand the marketplace and to remain focused-all at no extra cost to the buyer.