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Ocean City Market Report - Sept. 2023

Active Listings

There are currently 187 homes, townhomes and condos for sale in Ocean City, MD.  This is a 47% increase in inventory over this point in 2022.

Ocean City Real Estate Inventory - Sept. 2023

Active Listing Prices

The average active real estate listing price in Ocean City is $721,000 and the median listing price is $535,000.  The median real estate listing price for the year in Ocean City is $529,000, which is unchanged from 2022.

Ocean City Real Estate Prices - Sept. 2023

Sold Listings

89 Ocean City properties went to settlement during August bringing the total number of sold listings for the year to 730, which represents an 18% decrease in sales volume from 2022.

Ocean City Real Estate Sales - Sept. 2023

Sold Listing Prices

The average sold price for real estate that sold in Ocean City during August was $589,000 and the median sold price was $455,000.  The median sold real estate price for the year in Ocean City is $424,000, which is a 4% increase over 2022.

Sold Ocean City Real Estate Prices - Sept. 2023

Average Sold Price/Sq. Ft.

The average sold price per square foot in Ocean City during August was $473.  The average sold price per square foot for the year in Ocean City is $444, which is a 7% increase over 2022.

Sold Price Per Square Foot for Ocean City Real Estate - Sept. 2023

Absorption Rate

The absorption rate in Ocean City is currently two months, which is a one month increase over 2022.

Absorption Rate for Ocean City Real Estate - Sept. 2023

Sold to List Price Ratios

Ocean City properties that went to settlement during August sold on average at 98% of the listing price.  The average sold to list price ratio for the year in Ocean City is 98%, which is a 1% decrease from 2022.

Sold to List Price Ratio for Ocean City Real Estate - Sept. 2023

Average Days on Market

Ocean City properties that went to settlement during August averaged 27 days on the market.  Average days on market for the year in Ocean City are 37, which is a 37% increase over 2022.

Average Days on Market for Ocean City Real Estate - Sept. 2023

Under Contract Listing Volume

84 Ocean City real estate listings went under contract during August bringing the total number of contracts written for the year to 808, which is an 18% decrease from 2022.

Under Contract Ocean City Condos for Sale - Sept. 2023

Under Contract Listing Prices

The average price of Ocean City homes and condos that went under contract during August was $523,000 and the median pending sale price was $422,000.  The median pending sale price for the year in Ocean City is $428,000, which is a slight increase over 2022.

Ocean City Pending Real Estate Sales Price - Sept. 2023

New Listing Volume

129 new properties were listed in Ocean City during August bringing the total number of new real estate listings for the year to 796, which is an 18% decrease from 2022.

New Ocean City Real Estate Listings - Sept. 2023

New Listing Prices

The average price of new real estate listings in Ocean City during August was $580,000 and the median new listing price was $450,000.  The median new listing price for the year in Ocean City is $440,000, which is a 7% increase over 2022.

New Ocean City Real Estate Listing Prices - Sept. 2023

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