Inventory & Supply
- Months Supply of Inventory: Currently, Ocean City has a 3.61-month supply of inventory. This indicates a balanced market, leaning slightly towards sellers, which can be advantageous if you're planning to list soon.
- Inventory Changes: Over the past month, inventory has decreased by 1%, and there's been a notable 22% drop over the last year. This reduction in inventory could lead to increased competition among buyers, potentially benefiting sellers.
New Listings
- Number of New Listings: There are 124 new listings in the area.
- Median New Listings List Price: The median list price for new listings is $1,272,500, showcasing the robust pricing potential for sellers in this market.
Active Listings
- Number of Active Listings: Ocean City currently has 209 active listings.
- Median Active List Price: The median price for these listings is $1,299,999, indicating strong market confidence.
Pending Listings
- Number of New Pending Listings: There are 73 new pending listings, with a median list price of $999,999 and a median of 24 days on the market. This quick turnaround suggests a high demand for properties.
Sold Listings
- Median Sold Price: The median sold price is $1,075,000, though there has been a 15% month-over-month decrease. However, properties are selling at 96.31% of the list price, with a slight 1% decrease in the sold-to-list price ratio.
- Speed of Sale: The median days properties spend in the RPR is 28, reflecting a 17% increase month-over-month. This indicates that while properties are selling, there might be a slight extension in time on the market.
Recently Sold