Ocean City MD Real Estate Market Report - Nov. 2013

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200
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600
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1200
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1600
1800
2000
O
10
N D J F M A M J J A S O
11
12
13
Ocean City Active Listing Volume
Ocean City
There are currently 1004 properties for sale in
Ocean City. Inventory is down by 15% from
2012 and will remain largely flat as we work
through the slower Winter months.

Search All Ocean City Listings
Ocean Pines
There are currently 195 homes, condos and
townhomes listed for sale in Ocean Pines,
which is up by 6% from this point in 2012.

Search All Ocean Pines Listings
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9
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0
50
100
150
200
250
300
O
10
11
12
13
Ocean Pines Active Listing Volume
Ocean City
The current average price of Ocean City
listings is $353,000 and the median price is
$283,000. Both of these values have been on
an upward trend since mid Summer as the
market continues to improve and inventory
decreases.
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9

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250
300
350
400
450
500
550
O
10
11
12
13
Ocean City Active Listing Prices
Avg. Price
Med. Price
3 per. Mov. Avg. (Avg. Price)
Ocean Pines
The average and median prices of properties
that went to settlement in Ocean Pines during
October were $320,000 and $245,000
respectively. This brings the average sold
price in Ocean Pines for the year to $324,000,
representing a 2% year over year price
increase.
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2
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3
2
0

200
250
300
350
400
450
O
10
11
12
13
Ocean Pines Active Listing Prices
Avg. Price
Med. Price
3 per. Mov. Avg. (Med. Price)
Active Listing Prices
Active Listing Volume

Occan Ci|v and Occan Pincs Markc| Rcpor|
Direct: 443-614-9179
Email: ocnick55@gmail.com
Web: oceancitycondosandhomes.com

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7
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20
40
60
80
100
120
140
O
10
11
12
13
Ocean City Sold Listing Volume
Ocean City
88 Ocean City properties went to settlement in
October, which is up by 22% over October of
last year. For the year a total of 830 properties
have gone to settlement, representing a 4%
increase in year over year activity from the 799
properties that sold through this point in 2012.

View Ocean Citys September Sold Listings
Ocean Pines
22 Ocean Pines properties went to settlement
in October, which was on pace with October of
last year. For the year a total of 253 properties
have gone to settlement, representing a 25%
increase in activity over 2012.

View Ocean Pines September Sold Listings
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45
O
10
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Ocean Pines Sold Listing Volume
Ocean City
The average sold price of Ocean City
properties that went to settlement during
October was $307,000 and the median price
was $263,000. This brings the average sold
price for the year to $300,000, which
represents a year over year price increase of
5%.
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100
150
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250
300
350
400
450
500
O
10
11
12
13
Ocean City Sold Listing Prices
Avg. Price
Med. Price
Ocean Pines
The average price of Ocean Pines properties
that went to settlement in October was
$270,000 and the median price was $216,000.
The average sold price for the year in Ocean
Pines is $246,000, representing a 2% year
over year price increase.
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150
200
250
300
350
400
O
10
11
12
13
Ocean Pines Sold Listing Prices
Avg. Price
Med. Price
Sold Listing Prices
Sold Listing Volume
Direct: 443-614-9179

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O
10
11
12
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Ocean City Sold Price/Sq. Ft. Ocean City
The average sold price per square foot in
Ocean City during October was $273, which is
up by 16% over October of last year. The
average sold price per square foot in Ocean
City for the year is $258,000, representing a
10% price increase through this point last year
a very positive sign.
Ocean Pines
The average sold price per square foot in
Ocean Pines during October was $145, which
is up by 5% over October of last year. The
trend line has been increasing since late spring
and is a good sign that things continue to
improve in the Ocean Pines market.
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70
90
110
130
150
170
190
210
230
250
O
10
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Ocean Pines Sold Price/Sq. Ft.
Ocean City
The absorption rate in Ocean City currently
stands at 12 months. We saw an increase this
month as there is still a good amount of new
inventory coming on the market while the sales
pace has slowed down a bit. This isnt
necessarily a bad thing as inventory has gotten
thin in several segments of the market.
22 22 22
20 20 20 20 20
19
18 18 18 18 18 18 18 18
19
18 18
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14.5
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0
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O
10
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Ocean City Absorption Rates
Ocean Pines
The absorption rate in Ocean Pines currently
stands at 7 months, which is a 2 month
improvement over this point in 2012. I would
anticipate that this value will remain flat
through the end of the year and then resume
its descent after the holiday season.
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O
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Ocean Pines Absorption Rates
Absorption Rates
Sold Price/Sq. Ft.
Direct: 443-614-9179

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9
1
%

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%

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%

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80%
82%
84%
86%
88%
90%
92%
94%
96%
98%
100%
O
10
11
12
13
Ocean City Sold to List Price Ratio
Ocean City
Property in Ocean City is currently selling at
95% of the listing price. While we have seen
considerable improvement in this value over
the past year there is still plenty of room for
negotiations and the opportunity for a good
value.
Ocean Pines
Ocean Pines property is currently selling at
95% of the listing price. This appears to be the
new norm as we have been in this range for
the better part of a year. While this value has
improved over the past few years it still leaves
plenty of negotiating room to secure a nice
value.
8
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%

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%

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%

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%

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%

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%
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%

9
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%
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%

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%

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%

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%

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%

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%

9
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%
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%

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%

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%

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%

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%

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%

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%

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9
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%

9
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%

9
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%

9
5
%

80%
82%
84%
86%
88%
90%
92%
94%
96%
98%
100%
O
10
11
12
13
Ocean Pines Sold to List Price Ratio
Ocean City
Ocean City property that went to settlement
during October averaged 169 days on the
market. For the year sold Ocean City property
has averaged 138 days on the market, which is
a considerable improvement over the 233 days
property was averaging on the market through
this point in 2012.
1
8
4

2
5
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2
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3
2
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3
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1
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2
3
6

2
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2
5

2
4
2

2
8
2

2
4
1

2
4
7

2
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9

2
3
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2
5
7

2
4
1

2
6
0

2
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5

2
4
9

1
1
7

1
5
3

1
0
3

8
1

1
4
5

1
4
5

1
2
6

1
4
4
1
9
4

1
6
0

1
0
4

1
1
1

1
6
9

0
50
100
150
200
250
300
350
400
450
500
O
10
11
12
13
Ocean City Avg. Days on Market
Ocean Pines
Listings that sold in Ocean Pines during
October averaged 129 days on the market.
For the year, sold Ocean Pines property has
averaged 139 days on the market which is a
considerable improvement over the 153 days it
was averaging through this point in 2012.
1
8
6

1
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6

1
2
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2
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1
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3
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2
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3

1
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6

2
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5
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1
1
9

1
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9

1
5
5

2
3
3

9
4

4
0

1
8
4

8
9

1
6
3

1
7
3

1
5
6

1
6
7

1
2
3

9
2

1
6
4

1
0
9

1
1
8

1
2
9

0
50
100
150
200
250
300
350
O
10
11
12
13
Ocean Pines Avg. Days on Market
Average Days on Market
Sold to List Price Ratios
Direct: 443-614-9179

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7
2

5
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6
9

8
2

1
2
6

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9
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7
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1
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1
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7
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7
4

0
20
40
60
80
100
120
140
O
10
11
12
13
Ocean City Under Contract Listing Volume
Ocean City
74 properties went under contract during the
month, which is down from October of last
year. Typically we see a run in the fall and
then activity shuts down for a couple of
months. Market activity is still strong right now
and I think we will continue to see a steady
sales pace through the end of the year. Part of
the slow down is attributed to the fact that
inventory is thin in some segments.
View Ocean City Properties Under Contract
Ocean Pines
26 properties went under contract in Ocean
Pines during the month, which is on pace with
October of last year. For the year a total of
288 properties have gone under contract in
Ocean Pines, representing an 11% increase in
activity over this point in 2012.

View Ocean Pines Properties Under Contract
1
7

2
3

1
6

9

1
7

3
5

3
1

2
3

3
0

3
4

2
7

2
2

3
0

2
0

1
9

1
4

1
8

3
2
3
5

3
1

2
1

3
4

1
7

2
4

2
5

2
0

6

2
0

2
8

2
5

3
5
3
8

2
5

3
5

2
3

3
3

2
6

0
5
10
15
20
25
30
35
40
45
50
O
10
11
12
13
Ocean Pines Under Contract Listing Volume
Ocean City
The average price of properties that went
under contract in Ocean City during October
was $302,000 and the median price was
$270,000. The average price of active listings
for the year is $309,000, which has remained
largely unchanged from the 2012 value through
this point of $310,000.
3
4
0

3
9
6

3
7
5

3
2
7

3
1
4

3
1
0

3
3
0
3
7
9

3
3
9

3
5
1

2
8
1

3
1
2

3
8
0

3
2
6

3
1
0

3
3
4

3
2
4

3
2
6

2
8
5

3
0
9

2
9
0

2
9
5

3
2
4

3
2
2

2
9
2
3
3
4

3
0
1

2
7
2

2
8
9

2
8
4

3
2
4

2
9
0
3
4
0

3
4
4

3
1
2

3
3
4

3
0
2

100
150
200
250
300
350
400
450
500
550
600
O
10
11
12
13
Ocean City Under Contract Listing Prices
Ocean Pines
The average and median price of properties
that went under contract during October in
Ocean Pines were $235,000 and $210,000
respectively. A majority of the properties that
went under contract this month were in the
$200,000 and below range, which temporarily
pulled this value down. Look for it to rebound
in the coming months as a better mix of
property types and price ranges sells.
2
5
7

2
7
6

3
2
3

3
6
9

2
5
3
2
8
2

2
4
2

2
3
2

2
4
2

2
6
4

2
0
7

2
6
6

2
4
3

2
4
9

2
6
2

2
3
7
2
6
4

2
3
9
2
6
7

2
2
1

2
3
2

2
4
3

2
5
4

2
8
7

2
6
5

2
6
4

1
8
3

2
7
2

2
4
1

2
5
2

2
5
0

2
4
5

2
9
0

2
6
2

2
4
3

2
6
4

2
3
5

100
150
200
250
300
350
400
O
10
11
12
13
Ocean Pines Under Contract Listing Prices
Under Contract Listing Prices
Under Contract Listing Volume
Direct: 443-614-9179

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1
7
8

1
4
6

7
5

1
3
7
1
7
0

1
8
8

1
9
3

1
6
0

1
5
6

1
3
6

1
2
6

1
4
2

1
5
1

9
4

6
7

1
5
1

1
5
8

1
8
3

1
3
8

1
3
3

1
1
2

1
2
3

1
3
0

1
3
1

1
4
1

1
1
4

7
5

1
5
2

1
3
4

2
0
0

1
8
9

1
1
9

9
3
1
1
4

1
4
9

1
3
6

1
5
2

0
50
100
150
200
250
300
O
10
11
12
13
Ocean City New Listing Volume
Ocean City
152 new properties were listed during October,
which was up slightly from October of last year.
A total of 1438 properties have been listed
through this point in 2013, which is up by 3%
over the 1400 that had been listed last year.

View Ocean Citys New Listings
Ocean Pines
34 new properties were listed in Ocean Pines
during October, representing a 48% increase
over October of last year. For the year a total
of 400 properties have been listed in Ocean
Pines, which is a 19% increase over the 337
properties that were listed through this point in
2012. This isnt necessarily a bad thing as the
inventory had gotten quite this in several areas
of the Ocean Pines market.

View Ocean Pines New Listings
2
8

2
4

1
6
2
1

3
7

5
2
5
7

4
6

3
7

4
0

3
3

3
5

2
2

1
8

1
3

2
6

3
4

4
8

3
0

4
3

3
7

3
5

3
9

2
2

2
3

1
2

1
0

2
8

3
2

4
0

3
5

5
5

3
4

5
4

5
6

3
2

3
4

0
10
20
30
40
50
60
70
80
O
10
11
12
13
Ocean Pines New Listing Volume
Ocean City
The average price of new Ocean City
properties listed during October was $329,000.
This brings the average new listing price for the
year to $345,000, which represents a 3% price
increase over the average new listing price
through this point in 2012 of $334,000.
3
6
9
4
1
3

3
5
9

3
4
1

3
7
4

3
5
0

3
7
2

3
8
1

3
8
8

3
8
7

3
8
8

3
5
4

3
7
7

3
4
1

3
0
5

3
2
5

3
5
4

3
4
5

3
3
6

3
6
2

3
0
9

2
9
7

3
5
2

2
9
7

3
6
5

2
8
4

3
2
3

3
1
1

3
2
3

3
0
5

3
4
2

4
0
8

3
4
1

3
7
2

3
9
4

3
2
5

3
2
9

100
150
200
250
300
350
400
450
500
550
600
O
10
11
12
13
Ocean City New Listing Prices
Ocean Pines
The average and median prices of new Ocean
Pines listings were $280,000 and $220,000
respectively. As with the pending listings, half
of the new properties were $200,000 or below
which had a negative effect on this value,
though it provided some much needed
inventory in this segment of the market.
3
0
5

3
0
3

2
9
3

2
6
4

2
9
1

3
1
9

3
1
4
3
5
5

2
6
4

3
5
8

3
7
0

2
9
1

2
8
3

2
1
8

2
8
8

3
3
5

2
7
3

2
5
7

3
0
5

2
5
5

3
0
8

3
2
4

3
3
7

2
6
6

2
9
4

2
5
8

3
5
9

3
0
6

2
7
2

3
2
3

3
1
4

3
0
2

2
8
3

3
3
5

2
8
5

3
6
0

2
8
0

100
200
300
400
500
O
10
11
12
13
Ocean Pines New Listing Prices
New Listing Prices
New Listing Volume
Direct: 443-614-9179

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Ocean City MD Real Estate Market Report - Nov. 2013

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Ocean City MD Real Estate Market Report - Nov. 2013

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