Ocean City NJ Heading Into 2019: A Look Back At 2018

As we start 2019 I wanted to take a quick look back at 2018 and how 2018 compared to the previous year.  

In 2018 Ocean City had a very strong real estate market, improving upon an already good 2017.  Properties sold in less time, average days on market were down almost 14%.  Property values increased, with average sold prices up over 5%!  Although approx. 32 less properties sold over the year.  Sometimes times this happens in a market where prices are increasing, sellers might choose to hold onto their property instead of selling.  

Overall, if you own in Ocean City, 2018 was likely a great year for the value of your property!


2017

101
Days On Market
$604,574
Average Price
958
Sold Listings

2018

87
Days On Market
$635,788
Average Price
926
Sold Listings

Market Data

2017 vs 2018

Average Days On Market

↓ 14%

Average Sold Price

↑ 5%

# Of Sales

↓ 32 Units