Ocean City Housing Market Data

There was a decrease in total units sold in April, with 127 sold this month in Ocean City Real Estate versus 146 last month, a decrease of 13%. This month's total units sold was lower than at this time last year, a decrease of 21% versus April 2019.

Versus last year, the total number of homes available this month is lower by 223 units or 28%. The total number of active inventory this April was 565 compared to 788 in April 2019. This month's total of 565 is lower than the previous month's total supply of available inventory of 598, a decrease of 6%.

Last April, the median sale price for Ocean City Homes was $272,750. This April, the median sale price was $285,000, an increase of 4% or $12,250 compared to last year. The current median sold price is 10% higher than in March.

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

In April, there was 4.4 months of supply available in Ocean City, compared to 4.9 in April 2019. That is a decrease of 10% versus 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 66 homes newly listed for sale in Ocean City compared to 213 in April 2019, a decrease of 69%. There were 64 current contracts pending sale this April compared to 148 a year ago. The number of current contracts is 57% lower than last April.

In April, the average sale price in Ocean City was 95.9% of the average list price, which is 0.8% lower than at this time last year.

This month, the average number of days on market was 128, higher than the average last year, which was 106, an increase of 21%.





Focus On: Ocean City Housing Market			April 2020

Zip Code(s): 21842 and 21843
Units Sold 127	Active Inventory 565	Median Sale Price $285,000	Days On Market 128

Down -21% Vs. Year Ago	Down -28% Vs. Year Ago	Up 4% Vs. Year Ago	Up 21% Vs. Year Ago


		Units Sold There was a decrease in total units sold in April, with 127 sold this month in Ocean City Real Estate versus 146 last month, a decrease of 13%. This month's total units sold was lower than at this time last year, a decrease of 21% versus April 2019.
Active Inventory Versus last year, the total number of homes available this month is lower by 223 units or 28%. The total number of active inventory this April was 565 compared to 788 in April 2019. This month's total of 565 is lower than the previous month's total supply of available inventory of 598, a decrease of 6%.
		Median Sale Price Last April, the median sale price for Ocean City Homes was $272,750. This April, the median sale price was $285,000, an increase of 4% or $12,250 compared to last year. The current median sold price is 10% higher than in March. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 66	Current Contracts 64	Sold Vs. List Price 95.9%	Months of Supply 4.4

Down -69% Vs. Year Ago	Down -57% Vs. Year Ago	Down -0.8% Vs. Year Ago	Down -10% Vs. Year Ago


		Months of Supply In April, there was 4.4 months of supply available in Ocean City, compared to 4.9 in April 2019. That is a decrease of 10% versus 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 66 homes newly listed for sale in Ocean City compared to 213 in April 2019, a decrease of 69%. There were 64 current contracts pending sale this April compared to 148 a year ago. The number of current contracts is 57% lower than last April.
		Sale Price to List Price Ratio In April, the average sale price in Ocean City was 95.9% of the average list price, which is 0.8% lower than at this time last year. Days on Market This month, the average number of days on market was 128, higher than the average last year, which was 106, an increase of 21%.


	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.