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| MARCH 2025 | |||
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| Zip Code(s): 8226 | |||
| Units Sold 24 |
Active Inventory 472 |
Median Sale Price $954,450 |
Days On Market 58 |
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| Down Vs. Year Ago |
Up 7% Vs. Year Ago |
Down Vs. Year Ago |
Up 16% Vs. Year Ago |
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Units Sold
With relatively few transactions, there was a decrease in total units sold in March, with 24 sold this month in Ocean City Real Estate. This month's total units sold was lower than at this time last year, a decrease from March 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 30 units or 7%. The total number of active inventory this March was 472 compared to 442 in March 2024. This month's total of 472 is higher than the previous month's total supply of available inventory of 461, an increase of 2%. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last March, the median sale price for Ocean City Homes was $980,000. This March, the median sale price was $954,450, a decrease of $25,550 compared to last year. The current median sold price is lower than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 122 |
Current Contracts 81 |
Sold Vs. List Price 99.3% |
Months of Supply 19.7 |
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| Up 34% Vs. Year Ago |
Up 62% Vs. Year Ago |
Up 2.6% Vs. Year Ago |
Up Vs. Year Ago |
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Months of Supply
In March, there was 19.7 months of supply available in Ocean City, compared to 10.8 in March 2024. That is an increase 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. |
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New Listings & Current Contracts
This month there were 122 homes newly listed for sale in Ocean City compared to 91 in March 2024, an increase of 34%. There were 81 current contracts pending sale this March compared to 50 a year ago. The number of current contracts is 62% higher than last March. |
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Sale Price to List Price Ratio
In March, the average sale price in Ocean City was 99.3% of the average list price, which is 2.6% higher than at this time last year. Days on Market
This month, the average number of days on market was 58, higher than the average last year, which was 50, an increase of 16%. | |||
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Ocean City are defined as properties listed in zip code/s 8226. | ||
| *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 SJSMLS 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 SJSMLS or Long & Foster Real Estate, Inc. |
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