OCEAN CITY HOUSING MARKET DATA

There was a decrease in total units sold in January, with 66 sold this month in Ocean City Real Estate versus 87 last month, a decrease of 24%. This month's total units sold was higher than at this time last year, an increase of 25% versus January 2024.

Versus last year, the total number of homes available this month is higher by 68 units or 20%. The total number of active inventory this January was 406 compared to 338 in January 2024. This month's supply remained stable as compared to last month.

Last January, the median sale price for Ocean City Homes was $360,000. This January, the median sale price was $479,500, an increase of $119,500 compared to last year. The current median sold price is higher than in December.

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

In January, there was 6.2 months of supply available in Ocean City, compared to 6.4 in January 2024. That is a decrease of 4% 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 129 homes newly listed for sale in Ocean City compared to 122 in January 2024, an increase of 6%. There were 86 current contracts pending sale this January compared to 89 a year ago. The number of current contracts is 3% lower than last January.

In January, the average sale price in Ocean City was 98.6% of the average list price, which is 2.3% higher than at this time last year.

This month, the average number of days on market was 59, higher than the average last year, which was 37, an increase of 59%.





FOCUS ON: OCEAN CITY HOUSING MARKET			JANUARY 2025

Zip Code(s): 21842 and 21843
Units Sold 66	Active Inventory 406	Median Sale Price $479,500	Days On Market 59

Up 25% Vs. Year Ago	Up 20% Vs. Year Ago	Up 33% Vs. Year Ago	Up 59% Vs. Year Ago


		Units Sold There was a decrease in total units sold in January, with 66 sold this month in Ocean City Real Estate versus 87 last month, a decrease of 24%. This month's total units sold was higher than at this time last year, an increase of 25% versus January 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 68 units or 20%. The total number of active inventory this January was 406 compared to 338 in January 2024. This month's supply remained stable as compared to last month.
		Median Sale Price Last January, the median sale price for Ocean City Homes was $360,000. This January, the median sale price was $479,500, an increase of $119,500 compared to last year. The current median sold price is higher than in December. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 129	Current Contracts 86	Sold Vs. List Price 98.6%	Months of Supply 6.2

Up 6% Vs. Year Ago	Down -3% Vs. Year Ago	Up 2.4% Vs. Year Ago	Down -4% Vs. Year Ago


		Months of Supply In January, there was 6.2 months of supply available in Ocean City, compared to 6.4 in January 2024. That is a decrease of 4% 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 129 homes newly listed for sale in Ocean City compared to 122 in January 2024, an increase of 6%. There were 86 current contracts pending sale this January compared to 89 a year ago. The number of current contracts is 3% lower than last January.
		Sale Price to List Price Ratio In January, the average sale price in Ocean City was 98.6% of the average list price, which is 2.3% higher than at this time last year. Days on Market This month, the average number of days on market was 59, higher than the average last year, which was 37, an increase of 59%.


	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.