Ocean City MD Real Estate Market Report - Sept. 2013

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Ocean City and Ocean Pines Market Report Search All Area Listings
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New Listing Updates

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Active Listing Volume

Ocean City There are currently 997 properties for sale in Ocean City, representing a 17% decrease from this point last year. Search All Ocean City Listings Ocean City Active Listing Volume
1770 1731
2000 1800 1600 1400 1200 1000 800 600 400 200 0
1717
1658
1606
1604
1574
1590
1604
1565
1545
1521
1508
1493
1451
1420
1426
1447
1393
1407
1361
1287
1231
1196
1198
1183
1126
1167
1190
1104 1089
1114
1126
1034
S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S 10 11 12 13
225
224
214
192
192
191
205
189
188
188
186
185
179
184
185
172
150 100 50 0 S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S 10 11 12 13
Active Listing Prices

Ocean City The current average price of active listings in Ocean City is $351,000 and the median value came in at $280,000. We have seen some improvement in this value over the past few months as a lot of the lower end listings that pull this value down have sold and come off the market. Ocean City Active Listing Prices
550 500
397 388 392 386 385 383 382 386 382 380 381
Avg. Price Med. Price 3 per. Mov. Avg. (Avg. Price)
450 400 350 300 250
378
377
377
377
373
374
376
368
369
366
368
373
364
365
362
362
362
354
141
143
Search All Ocean Pines Listings
148
155
146
200
168
351
351
353
175 341 325
350
Avg. Price Med. Price 3 per. Mov. Avg. (Avg. Price) 3 per. Mov. Avg. (Med. Price)
Ocean Pines The average active listing price in Ocean Pines is currently $327,000 and the median price is $250,000. The average listing price has remained relatively flat for the past few months and is a reassuring sign as we head into the fall.
Ocean Pines Active Listing Prices

450 400 350 300 250 200
352
349
352
342
336
332
334
330
335
336
328
327
329
330
343
349 325
326
326
325
324
322
325
321
322
320
320
320
321
317
316
316
310
308
310
315
320
327
351
190
250
207
Ocean Pines There are currently 199 properties for sale in Ocean Pines, which is down by 8% from last month and on pace with this point in 2012.
Ocean Pines Active Listing Volume

295
350 300
278
269
259
258
268
254
256
238
240
246
232
952
979
997
Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Ocean City and Ocean Pines Market Report Sold Listing Updates
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Recently Sold Listings

View Multiple Listing Service reports of the properties that have sold over the most recent 90 day period, broken down by area.
Sold Listing Volume

Ocean City 94 properties went to settlement in Ocean City during the month, which is up slightly from September of last year. For the year a total of 742 properties have sold, representing a 2% increase in activity over the 727 properties that had gone to settlement by this point in 2012. View Ocean Citys September Sold Listings Ocean City Sold Listing Volume
106 109 120 99 99 96 33 28 28 26 26 28 25 25 25 26 25 23 24 22 22 22 23 22 18 20 18 16 15 16 14 13 12 14 15 17 10 77 42 38 22 10
Avg. Price Med. Price
140 120
93 82 81 77 103 92 92 91
81
76
72
70
60
57
60
67
80 60 40 20 0
65
70
72
49
34
Ocean Pines 25 properties went to settlement in Ocean Pines during September, representing an 67% increase in activity over September of 2012. For the year a total of 231 properties have gone to settlement in Ocean Pines, which is a 28% increase in activity over this point in 2012. View Ocean Pines September Sold Listings
Ocean Pines Sold Listing Volume

45 40 35 30 25 20 15 10 5 0 S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S 10 11 12 13
36
43
55
82
84
100
86
89
91
Sold Listing Prices

Ocean City The average sold price in Ocean City for September was $306,000 and the median sold price came in at $240,000. This brings the average sold price for the year in Ocean City to $299,000, representing a 4% price increase over this point last year. Ocean City Sold Listing Prices
500
379
450
353 355 322
337
318
309
310
311
316
306 247
338 260
400 350 300 250 200 150 100
345
347
360
301
304
299
300
292
283
282
282
284
280
281
293
277
268
265
260
270
259
275
Ocean Pines The average sold price for property in Ocean Pines during September was $246,000 and the median price came in at $208,000. This brings the average sold price for the year to $243,000, which is up slightly from the average sold price of $240,000 through this point last year.
400 350 300

237 224 220
301
374
Ocean Pines Sold Listing Prices
Avg. Price Med. Price 3 per. Mov. Avg. (Avg. Price)
292
294
277
290
279
270
259
262
254
253
257
251
275
294
243
242
237
229
234
222
221
225
220
215
208
200 150 S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S 10 11 12 13
197
199
250
213
214
217
236
246
306
25
94

Ocean City and Ocean Pines Market Report Distressed Listing Updates
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Foreclosures and Short Sales

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Sold Price/Sq. Ft.

Ocean City The average sold price per square foot in Ocean City for September was $261. This bring the average sold price per square foot for the year to $256, representing a 9% increase through this point in 2012.
288
Ocean City Sold Price/Sq. Ft.

267 272 130 12 7 263 261 263 267 145 7 258 255 248 247 241 241 245 246 239 236 236 238 233 228 231 232 225 224 228 233 235 239 247 251 256 260 261 144 7
300 280 260 240 220 200 180 160 140 120 100
268
268
Ocean Pines The average sold price per square foot in Ocean Pines during September was $144, which is up by 3% from September of last year. This is good news considering their were no higher end sales in the month and most of the sold transactions were in the middle and lower price ranges.
218
Ocean Pines Sold Price/Sq. Ft.

250 230 210 190 170 150 130 110 90 70 50
162
165
167
162
155
155
156
146
146
152
145
143
142
146
139
139
139
139
138
138
139
140
136
134
136
138
142
130
Absorption Rates
Ocean City The absorption rate (number of months to work through the inventory at current activity levels) in Ocean City currently stands at 11 months. Now that the fall inventory is on the market and activity is still strong I would look for this value to drop another month or two before the end of the year. Ocean City Absorption Rates
30 25 20 15 10 5 0 S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J 10 11 12 J A S 13
23 22 22 22 20 20 20 20 20 19 18 18 18 18 18 18 18 18 19 18 18 17 17 16 16
122
15
123
126
132
14
13 13 13
14 14.5
134 15
154 8 7 8 6
11 11 11
Ocean Pines The absorption rate in Ocean Pines currently stands at 7 months, representing a 2 month improvement over September of last year. As with Ocean City I would look for this value to improve in the coming months as the Fall inventory gets absorbed.
18 16 14 12 10 8 6 4 2 0
17 15 15 14
Ocean Pines Absorption Rates

13 12 13 13 13 13 13 12.5 12
11
10 8 8
9 8.5 8.5 8
S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J 10 11 12
J A S 13

Ocean City and Ocean Pines Market Report Selling Real Estate
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Property Valuation
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Sold to List Price Ratios

Ocean City Property in Ocean City is currently selling at 95% of the list price. This value has seen considerable improvement since the beginning of the year and is a trend that will continue with inventory levels decreasing.
100%
94% 94%
Ocean City Sold to List Price Ratio

95% 95% 96% 160 164 123 92 109 118 104 95% 95% 94% 94% 94% 94% 94% 94% 93% 93% 93% 93% 93% 93% 93% 93% 93% 93% 93% 92% 92% 92% 92% 92% 92% 92% 92% 92% 92% 93% 94% 95% 111 96%
98% 96%
91%
94% 92% 90% 88% 86% 84% 82% 80%
91%
Ocean Pines The average sold to list price ratio for the Ocean Pines market during September was 96%, which is a 3 point improvement over September of last year. This value will continue to improve as inventory continues to decrease and competition increases for the more attractive listings.
96%
95%
95%
95%
95%
95%
95%
95%
95%
95%
95%
95%
94%
94%
94%
94%
94%
94%
94%
93%
93%
94%
93%
93%
93%
96%
91%
90% 88% 86% 84% 82% 80%
Average Days on Market

Ocean City Property that sold in Ocean City during September averaged 111 days on the market. These are some of the lowest values that we have seen in the past 3 years. This is largely fueled by the fact that we are seeing more and more well priced listings in good condition go under contract within a couple of weeks of being listed. Ocean City Avg. Days on Market
500 450 400 350 300 250 200 150 100 50 0
328 308
88%
92%
89%
90%
94%
296
282
91%
259
250
251
257
260
242
241
247
240
225
236
219
225
239
241
206
215
249
93%
94%
98%
95% 144
178
184
177
153
145
145
117
103
50 0 S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S 10 11 12 13
40
Ocean Pines Property listings that sold in Ocean Pines during September averaged 118 days on the market. For the year, sold Ocean Pines property has averaged 144 days on the market, which is a considerable improvement over the 166 days it was averaging through this point in 2012.
Ocean Pines Avg. Days on Market

233
228
221
223
186
190
184
169
173
160
158
163
138
136
137
138
126
121
126
136
94
100
89
150
113
119
200
150
155
156
167
250
215
300
269
350
305
81
126
194
96%
100%
Ocean Pines Sold to List Price Ratio

Ocean City and Ocean Pines Market Report Useful Buying Information
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Buyer Action Plan

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Under Contract Listing Volume

Ocean City 74 Ocean City properties went under contract in September, which is down by 13% from September of last year. Part of this decrease is attributed to the fact that inventory has gotten thin in some segments of the market and Buyers cant find what they want. It also appears that the market will stay strong through the end of the year, spreading out some of this demand. View Ocean City Properties Under Contract Ocean Pines 33 properties went under contract in Ocean Pines during September, representing a 38% increase in activity over September of last year. For the year a total of 262 properties have gone under contract, representing an overall 16% increase over this point in 2012. View Ocean Pines Properties Under Contract
121 109 117 119 101 85 91 93 96 85 35 25 340 344 262 23 312 243 264 334 290 33 74 28 25 324 250 35 24 25 20 17 324 322 334 292 301 6 20 289 287 265 254 264 272 272 252 284 183 241 245 290 38 69 52 80 84
140 120
84 82
126
104
101
103
94
92
101
72
71
69
71
77
100 80 60 40 20 0
88
57
57
Ocean Pines Under Contract Listing Volume

50 45 40 35 30 25 20 15 10 5 0
35 34 35 34
47
69
31
32
30
23
23
27
22
30
31
20
19
17
17
16
17
Under Contract Listing Prices

Ocean City The average price of properties that went under contract in Ocean City during September was $334,000 and the median price was $275,000. We have seen some improvement in this value over the past couple of months and considerable improvement since the beginning of the year as a better mix of property types and price ranges has been selling. Ocean City Under Contract Listing Prices
600 550 500 450 400 350 300 250 200 150 100
418
396
375
379
340
339
351
380
327
330
326
334
14
314
310
312
310
324
326
18
309
21
90
Ocean Pines The average price of properties that went under contract in Ocean Pines during September was $264,000 and the median price came in at $224,000. This group of pending properties was a good mix of property types and is above the price range of previous months with similar sale mixes.
400 350
276 233 323
369
Ocean Pines Under Contract Listing Prices

282
281
264
266
253
243
249
242
242
232
237
239
250 200 150 100
207
221
232
243
300
257
262
264
267
285
290
295
106
133
Ocean City Under Contract Listing Volume

Ocean City and Ocean Pines Market Report Search ALL Listings
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Just Listed Properties

View new listings and price adjustments that have become available over the most recent 7 day period, broken down by area.
New Listing Volume

Ocean City 136 new listings came on the market in Ocean City during September, which was on pace with September of last year. It is not unusual to see an influx of new listings this time of year as the rental season is essentially over and Sellers begin putting them on the market. View Ocean Citys New Listings Ocean City New Listing Volume
300
193 200 152 188 189
250
178 146
160
156
151
151
158
142
137
136
138
141
149 119 93 114 34 54 341 372 335 283 285 56 394 40 35 55 342 408 305 323 314 302
200 150 100 50 0
165
170
183
133
126
123
130
131
75
94
112
114
Ocean Pines 32 new properties were listed in Ocean Pines during September, which is up from September of last year. As you can see the next few months will be slow in terms of new listings for the Ocean Pines market. This is a good thing as there is currently a lot of activity in Ocean Pines, which will help reduce the overall inventory level. View Ocean Pines New Listings
Ocean Pines New Listing Volume

80 60
37 52 57
70 50
33 28
67
46
48
40
43
37
35
37
30
24
26
21
16
18
30 20 10 0
22
13
22
23
12
New Listing Prices

Ocean City The average new listing price in Ocean City for September was $325,000 and the median price was $267,000. Over half of the properties listed during the month were $250,000 or less, which caused the drop in this value. Look for this value to rebound in the coming months as a better mix of property types and price ranges comes on the market. Ocean City New Listing Prices
600 550 500 450 400 350 300 250 200 150 100
413
388
379
381
387
388
374
369
372
377
359
354
354
362
350
341
341
345
325
336
352
365
10
28
40
33
34
35
39
75
32
134
323
305
309
297
297
Ocean Pines The average price of new listings in Ocean Pines during September was $360,000 and the median price was $245,000. These are some of the highest prices that we have seen over the past 3 years. There were a few higher end listings put on the market, but by in large it represents a good mix of property types and price ranges.
500
Ocean Pines New Listing Prices

370 355 358 337 359 360
324
335
319
314
308
324
400
284
305
303
305
293
291
291
283
288
273
294
306
311
264
264
266
257
200
100 S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S 10 11 12 13
218
300
255
258
272
323
325
32
136

Ocean City MD Real Estate Market Report - Sept. 2013

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Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.

New Listing Updates

Active Listing Volume

Active Listing Prices

450 400 350 300 250

Search All Ocean Pines Listings

175 341 325

Ocean Pines Active Listing Prices

Ocean Pines Active Listing Volume

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Recently Sold Listings

Sold Listing Volume

Ocean Pines Sold Listing Volume

Sold Listing Prices

400 350 300 250 200 150 100

400 350 300

Ocean Pines Sold Listing Prices

Avg. Price Med. Price 3 per. Mov. Avg. (Avg. Price)

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Foreclosures and Short Sales

Sold Price/Sq. Ft.

Ocean City Sold Price/Sq. Ft.

Ocean Pines Sold Price/Sq. Ft.

Ocean Pines Absorption Rates

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Sold to List Price Ratios

Ocean City Sold to List Price Ratio

94% 92% 90% 88% 86% 84% 82% 80%

90% 88% 86% 84% 82% 80%

Average Days on Market

Ocean Pines Avg. Days on Market

Ocean Pines Sold to List Price Ratio

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Buyer Action Plan

Under Contract Listing Volume

Ocean Pines Under Contract Listing Volume

Under Contract Listing Prices

Ocean Pines Under Contract Listing Prices

250 200 150 100

Ocean City Under Contract Listing Volume

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Just Listed Properties

New Listing Volume

200 150 100 50 0

Ocean Pines New Listing Volume

New Listing Prices

Ocean Pines New Listing Prices

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