Ocean City Housing Market Data

There was a decrease in total units sold in July, with 100 sold this month in Ocean City Real Estate versus 129 last month, a decrease of 22%. This month's total units sold was lower than at this time last year, a decrease of 16% versus July 2018.

Versus last year, the total number of homes available this month is lower by 135 units or 17%. The total number of active inventory this July was 649 compared to 784 in July 2018. This month's total of 649 is lower than the previous month's total supply of available inventory of 712, a decrease of 9%.

Last July, the median sale price for Ocean City Homes was $240,000. This July, the median sale price was $282,000, an increase of $42,000 compared to last year. The current median sold price is higher than in June.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In July, there was 6.5 months of supply available in Ocean City. The amount of supply is similar compared to a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 141 homes newly listed for sale in Ocean City compared to 127 in July 2018, an increase of 11%. There were 138 current contracts pending sale this July compared to 122 a year ago. The number of current contracts is 13% higher than last July.

In July, the average sale price in Ocean City was 96.0% of the average list price, which is 0.9% higher than at this time last year.

This month, the average number of days on market was 116, lower than the average last year, which was 120, a decrease of 3%.





Focus On: Ocean City Housing Market			July 2019

Zip Code(s): 21842 and 21843
Units Sold 100	Active Inventory 649	Median Sale Price $282,000	Days On Market 116

Down -16% Vs. Year Ago	Down -17% Vs. Year Ago	Up 18% Vs. Year Ago	Down -3% Vs. Year Ago


		Units Sold There was a decrease in total units sold in July, with 100 sold this month in Ocean City Real Estate versus 129 last month, a decrease of 22%. This month's total units sold was lower than at this time last year, a decrease of 16% versus July 2018.
Active Inventory Versus last year, the total number of homes available this month is lower by 135 units or 17%. The total number of active inventory this July was 649 compared to 784 in July 2018. This month's total of 649 is lower than the previous month's total supply of available inventory of 712, a decrease of 9%.
		Median Sale Price Last July, the median sale price for Ocean City Homes was $240,000. This July, the median sale price was $282,000, an increase of $42,000 compared to last year. The current median sold price is higher than in June. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 141	Current Contracts 138	Sold Vs. List Price 96.0%	Months of Supply 6.5

Up 11% Vs. Year Ago	Up 13% Vs. Year Ago	Up 1% Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In July, there was 6.5 months of supply available in Ocean City. The amount of supply is similar compared to a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 141 homes newly listed for sale in Ocean City compared to 127 in July 2018, an increase of 11%. There were 138 current contracts pending sale this July compared to 122 a year ago. The number of current contracts is 13% higher than last July.
		Sale Price to List Price Ratio In July, the average sale price in Ocean City was 96.0% of the average list price, which is 0.9% higher than at this time last year. Days on Market This month, the average number of days on market was 116, lower than the average last year, which was 120, a decrease of 3%.


	Ocean City are defined as properties listed in zip code/s 21842 and 21843.
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.