The Ocean City NJ Real Estate Market saw healthy growth in the first quarter of 2020 vs 2019. Inventory continued to decline as closed sales and contracts increased while new listings coming onto the market declined. Average days on market declined and sold prices increased.
| Q1 2019 | Q1 2020 |
| Change |
|---|---|---|---|---|
New Listings | 532 | 441 | 17.11% | |
Contracts Written | 743 | 753 | 1.35% | |
Closed Sales | 188 | 208 | 10.54% | |
Average Asking To Sold Price | 94.45% | 94.32% | 0.13% | |
Median Asking To Sold Price | 95.09% | 98% | 3.06% | |
Average Days On Market | 85 | 81 | 4.71% | |
Average Sold Price | $679,049 | $735,433 | 8.3% | |
Median Sold Price | $522,450 | $572,750 | 9.63% |