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| JANUARY 2025 | |||
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| Zip Code(s): 8226 | |||
| Units Sold 47 |
Active Inventory 432 |
Median Sale Price $1,325,000 |
Days On Market 64 |
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| Down -6% Vs. Year Ago |
Up 7% Vs. Year Ago |
Up 14% Vs. Year Ago |
Up 45% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in January, with 47 sold this month in Ocean City Real Estate. This month's total units sold was lower than at this time last year. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 27 units or 7%. The total number of active inventory this January was 432 compared to 405 in January 2024. This month's total of 432 is lower than the previous month's total supply of available inventory of 444, a decrease of 3%. |
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Median Sale Price
Last January, the median sale price for Ocean City Homes was $1,162,500. This January, the median sale price was $1,325,000, an increase of 14% or $162,500 compared to last year. The current median sold price is 15% 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. |
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| New Listings 73 |
Current Contracts 38 |
Sold Vs. List Price 96.9% |
Months of Supply 9.2 |
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| Up 11% Vs. Year Ago |
No Change Vs. Year Ago |
Up 1.5% Vs. Year Ago |
Up 13% Vs. Year Ago |
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Months of Supply
In January, there was 9.2 months of supply available in Ocean City, compared to 8.1 in January 2024. That is an increase of 13% 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 73 homes newly listed for sale in Ocean City compared to 66 in January 2024, an increase of 11%. There were 38 current contracts pending sale this January, consistent with the volume a year ago. The number of current contracts is 19% higher than last month. |
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Sale Price to List Price Ratio
In January, the average sale price in Ocean City was 96.9% of the average list price, which is 1.4% higher than at this time last year. Days on Market
This month, the average number of days on market was 64, higher than the average last year, which was 44, an increase of 45%. | |||
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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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