ocean city md real estate market report - april 2013

7/28/2019 Ocean City MD Real Estate Market Report - April 2013

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Ocean City Active Listing VolumeOcean CityThere are currently 1167 properties for sale inOcean City, which is down by 19% from the1447 properties that were on the market thistime last year. We have seen a slight increasein listings over the past couple of months andis normal as folks list their properties inanticipation of the coming Summer season.

Search All Ocean City Listings

Ocean PinesThere are currently 155 properties for sale inOcean Pines, which is down by 19% from the192 properties that were on the market thistime last year. As with Ocean City it is notunusual to see the inventory increase this timeof year as a bulk of the new listings will comeon the market over the next few months.

Search All Ocean Pines Listings

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Ocean Pines Active Listing Volume

Ocean CityThe average active listing price in Ocean Cityis currently $351,000 and the median price is$276,000. The slight decreases in this valueare coming from the inventory levels in thehigher price brackets. There are currently 29%less listings at $400,000 and a majority of thecurrent inventory is $300,000 or less.

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Ocean City Active Listing PricesAvg. PriceMed. Price3 per. Mov. Avg. (Avg. Pri

Ocean PinesThe average active listing price in Ocean Pinesis currently $321,000 and the median came inat $255,000. Both values have shown a 6%increase over March of 2012. The averagevalue has remained relatively flat since late lastfall and is a good indicator of stabilization.

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Ocean Pines Active Listing PricesAvg. Price

Med. Price

3 per. Mov. Avg. (Avg. Price)

3 per. Mov. Avg. (Med. Price)

Active Listing Prices

Active Listing Volume

Ocean City and Ocean Pines Market Repor

Direct: 443-614-917

Email: [email protected]

Web: oceancitycondosandhomes.com

New Listing Updates

Sign up for email updates with new listings and price adjustments

for the type of properties you are looking for

Search All Area Listings

We provide the most advanced consumer search available that is

linked directly to the Multiple Listing Service that we use.

A Division of The Mark Fritschle Group | Condominium Realty LTD
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Ocean City Sold Listing VolumeOcean City82 properties went to settlement during Marchbringing the YTD total of sold properties to 189.This is down by 4.5% from this point in 2012and partly attributed to the fact that thesettlement/mortgage process is taking longer.With 137 properties currently under contract inOcean City I would look for this value torebound considerably in the coming months.

View Ocean Citys March Sold Listings

Ocean Pines26 properties went to settlement in OceanPines during March, representing an 86%increase in activity over March of last year.This brings the YTD total for sold properties to47, which is up by 9% over this point in 2012.The stabilization and market improvement inOcean Pines continues.

View Ocean Pines March Sold Listings

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Ocean Pines Sold Listing Volume

Ocean CityThe average sold listing price in Ocean City forMarch was $275,000 and the median came inat $225,000. The average trend line had beenlargely flat since the late fall and this is the firstdrop we have seen in several months. This islargely attributed to the fact that a majority ofthe property selling is in the lower pricebrackets. Over half of the properties that soldin March were $250,000 or less with 3 lessthan $60,000. This will have an adverse affect

on this value.

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Ocean City Sold Listing Prices Avg. PriceMed. Price

Ocean PinesThe average sold listing price in Ocean Pinesduring March was $220,000 and the mediancame in at $215,000. As with Ocean City,most of the properties that have sold this yearin Ocean Pines have been in the lower priceranges. 76% of the sold listings this year havebeen $250,000 or less and have put downwardpressure on this value.

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Ocean Pines Sold Listing PricesAvg. Price

Med. Price

3 per. Mov. Avg. (Avg. Pr

Sold Listing Prices

Sold Listing Volume


Direct: 443-614-9179



Recently Sold Listings Sold Listing Updates

View Multiple Listing Service reports of the properties that have

sold over the most recent 90 day period, broken down by area.

Sign up to get email updates when properties sell in areas that are of

interest to you, based on your specifications.

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3/6

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Ocean City Sold Price/Sq. Ft.Ocean CityThe average sold price per square foot inOcean City during March was $247, which isup from last month and on pace with March oflast year. The trend line has had a slight butsteady increase in it since late last summer,which indicates some pricing stabilization.

Ocean PinesThe average sold price per square foot inOcean Pines for March was $126. As with theaverage sold prices this value you is beingadversely affected by the fact that 76% of thelistings that have sold in Ocean Pines this yearhave been less than $250,000.

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Ocean Pines Sold Price/Sq. Ft.

Ocean CityThe absorption rate in Ocean City currentlystands at 14 months and is down by 5 monthsfrom this point last year. We saw a slightincrease from last month, which is normal asmany people list their properties in anticipationof the coming Summer season.

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Ocean City Absorption Rates

Ocean PinesThe absorption rate in Ocean Pines is currently8 months. The increase we are seeing fromthe past few months is not unusual. A majorityof the new listings that will come on the OceanPines market this year we will be listed duringthe Spring.

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Ocean Pines Absorption Rates

Absorption Rates

Sold Price/Sq. Ft.


Direct: 443-614-917



Foreclosures and Short Sales Distressed Listing Updates

View all of the foreclosure and short sale listings currently available

in Ocean City, Ocean Pines, Berlin and West Ocean City.

Sign up to receive email updates as the new foreclosure and short

sale listings hit the market in the areas that are of interest to you.

mailto:[email protected]://www.oceancitycondosandhomes.com/http://www.oceancitypro.com/foreclosuresshorts.asphttp://oceancitycondosandhomes.com/ocean-city-md-foreclosure-alerts/http://www.oceancitypro.com/foreclosuresshorts.asphttp://www.oceancitypro.com/foreclosuresshorts.asphttp://oceancitycondosandhomes.com/ocean-city-md-foreclosure-alerts/http://oceancitycondosandhomes.com/ocean-city-md-foreclosure-alerts/http://oceancitycondosandhomes.com/ocean-city-md-foreclosure-alerts/http://www.oceancitypro.com/foreclosuresshorts.asphttp://oceancitycondosandhomes.com/ocean-city-md-foreclosure-alerts/http://www.oceancitypro.com/foreclosuresshorts.asphttp://www.oceancitycondosandhomes.com/mailto:[email protected]


4/6

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Ocean City Sold to List Price RatioOcean CityProperty that settled in March sold on averagefor 93% of the listing price. This isconsiderable negotiating room in all priceranges. Also keep in mind that this is anaverage and some Sellers will be moremotivated than others.

Ocean PinesProperty in Ocean Pines sold at 95% of thelisting price during March. This value has heldin this range over the past few months and isthe result of a tighter inventory and increasedcompetition for the better listings.

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Ocean Pines Sold to List Price Ratio

Ocean CityOcean City sold property for March averaged145 days on market. We have seen a bit of anincrease over the past few months, which islargely a function of the time of year. Some ofthe properties that are settling came on themarket during our slowest time over the Winter,which leads to days on market accumulating.

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Ocean City Avg. Days on Market

Ocean PinesProperty that sold in Ocean Pines duringMarch averaged 156 days on the market. Thisappears to be the norm as the dips we sawwere during slower months without manytransactions, when a quick sale or two canhave a significant impact.

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Ocean Pines Avg. Days on Market

Average Days on Market

Sold to List Price Ratios

Ocean City and Ocean Pines Market Repo

Direct: 443-614-91


Web: oceancitycondosandhomes.co

Selling Real EstateProperty Valuation

View our comprehensive marketing plan that we utilize to get our

clients the highest price possible in the shortest amount of time.

Fill out our quick property information form and we will email you

a comprehensive valuation report for your home or condo.

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5/6

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Ocean City Under Contract Listing VolumeOcean City101 properties went under contract in OceanCity during March, which is up considerablyfrom last month and on pace with March of lastyear. We are getting ready to enter into thebusy part of our season and this is certainly agood start.

View Ocean City Properties Under Contract

Ocean Pines25 properties went under contract in OceanPines during March. This brings the YTD totalfor contract is Ocean Pines to 74, representinga 30% increase in activity over this point in2012. Certainly a positive sign of things tocome in the Ocean Pines market.

View Ocean Pines Properties Under Contract

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Ocean Pines Under Contract Listing Volume

Ocean CityThe average price of Ocean City propertiesthat went under contract in March was$284,000 and the median came in at $255,000.With these values increasing over the past fewmonths I would look for the average andmedian sold prices to improve in the comingmonths as these properties start to settle.

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Ocean City Under Contract Listing Prices

Ocean PinesThe average price of properties that wentunder contract in March was $252,000 and themedian price was $220,000. There has been abetter mix of property types and price rangesselling since the first of the year.

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Ocean Pines Under Contract Listing Prices

Under Contract Listing Prices

Under Contract Listing Volume

Direct: 443-614-917




Useful Buying InformationBuyer Action Plan

View a series of articles and videos that we have put together which

explain and outline the various phases of buying real estate.

View the plan and steps that we take to ensure our Buyer clients get

the best deal possible through a relaxed and stress free transaction.

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6/6

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Ocean City New Listing VolumeOcean City200 new listings came on the Ocean City realestate market during March, representing a 9%increase over March of last year. This bringsthe YTD total to 492 which is on pace with the494 that had been listed by this point last year.March and April are 2 of the busiest months fornew listings and Sellers put their properties onthe market in anticipation of the comingseason.

View Ocean Citys New Listings

Ocean Pines40 new properties were listed in Ocean Pinesduring March, representing a 17% decreasefrom March of 2012. A total of 101 new listingshave become available in Ocean Pines during2013 thus far, which is down by 10% from the112 that had been listed by this point last year.The reduced inventory levels is leading toincreased competition for the more attractivelistings.

View Ocean Pines New Listings

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Ocean Pines New Listing Volume

Ocean CityThe average new listing price in Ocean City forMarch was $305,000 and the median price was$277,000. The median value is beginning toregain some of the ground that was lost overthe Winter, which is typical. Most Sellers thatlist their properties over the Winter have to selland must price their properties accordinglyduring our slowest time of the year.

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Ocean City New Listing Prices

Ocean PinesThe average new listing price in March was$323,000 and the median price came in at$243,000. A handful of higher end listingscame on the market during the month thatultimately caused this value to increaseconsiderably

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Ocean Pines New Listing Prices

New Listing Prices

New Listing Volume


Direct: 443-614-917



Just Listed Properties Search ALL Listings

Search all of the available area listings based on your specifications

through the MLS, which is the same database we utilize.

View new listings and price adjustments that have become available

over the most recent 7 day period, broken down by area.

http://www.flexmls.com/link.html?zo0rkrs4pq5,11,1http://www.flexmls.com/link.html?zo0rkrs4pq5,11,1http://www.flexmls.com/link.html?zo0rktavdj5,11,1mailto:[email protected]://www.oceancitycondosandhomes.com/http://www.oceancitypro.com/just-listed.asphttp://link.flexmls.com/wutj6i3c3y0,11http://link.flexmls.com/wutj6i3c3y0,11http://link.flexmls.com/wutj6i3c3y0,11http://www.oceancitypro.com/just-listed.asphttp://www.oceancitypro.com/just-listed.asphttp://www.oceancitypro.com/just-listed.asphttp://link.flexmls.com/wutj6i3c3y0,11http://www.oceancitypro.com/just-listed.asphttp://www.oceancitypro.com/just-listed.asphttp://link.flexmls.com/wutj6i3c3y0,11http://www.oceancitycondosandhomes.com/mailto:[email protected]://www.flexmls.com/link.html?zo0rktavdj5,11,1http://www.flexmls.com/link.html?zo0rkrs4pq5,11,1

ocean city md real estate market report - april 2013

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