Ocean City Maryland Real Estate Market Report

download Ocean City Maryland Real Estate Market Report

of 6

Transcript of Ocean City Maryland Real Estate Market Report

  • 7/31/2019 Ocean City Maryland Real Estate Market Report

    1/6

    1 9 7 9

    1 9 5 2

    1 9 1 6

    1 9 1 3

    1 8 6 3

    1 8 8 6

    1 8 2 0

    1 8 2 5

    1 8 3 6

    1 8 5 0

    1 8 8 5

    1 8 3 4

    1 8 2 5

    1 7 7 5

    1 7 7 0

    1 7 3 1

    1 7 1 7

    1 6 5 8

    1 5 7 4

    1 5 9 0

    1 6 0 6

    1 6 0 4

    1 6 0 4

    1 5 6 5

    1 5 4 5

    1 5 2 1

    1 5 0 8

    1 4 9 3

    1 4 5 1

    1 4 2 0

    1 3 9 3

    1 4 2 6

    1 4 4 7

    1 4 0 7

    1 3 6 1

    1 2 8 7

    0

    500

    1000

    1500

    2000

    2500

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J J

    Ocean City Active Listing VolumeOcean CityThere are currently 1231 properties on themarket in Ocean City, which is down by 4%from last month, down by 20% from this pointlast year and down by 38% from the July 2009levels. This is a trend that will continue withthe solid sales pace and considerably lessinventory coming on the market than inprevious years.

    View Ocean City Active Listings

    Ocean City MD and Ocean Pines MDReal Estate Market Report

    Nicholas A. Bobenko, Realtor Direct: 443-614-9179

    Email: [email protected]

    Ocean PinesThere are currently 186 properties on themarket in Ocean Pines, which is down by 31%from July of last year and down by 45% fromthe July 2009 inventory levels. This equates to8 months of inventory which is actually prettynormal for a 2 nd home market.

    View Ocean Pines Active Listings

    3 3 7

    3 2 9

    2 8 0

    2 7 7

    2 6 5

    2 5 1

    2 5 2

    2 5 2

    2 6 4

    2 7 3

    2 8 6 3

    0 4

    3 1 4

    2 9 9

    2 9 5

    2 7 8

    2 5 9

    2 3 8

    2 2 5

    2 2 4 2

    4 0 2

    5 4

    2 5 8

    2 6 9

    2 6 8

    2 5 6

    2 4 6

    2 3 2

    2 1 4

    1 8 9

    1 7 2 1

    8 8

    1 9 2

    1 9 2

    1 8 8

    1 7 9

    0

    50

    100

    150

    200

    250

    300

    350

    400

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J

    Ocean Pines Active Listing Volume

    Ocean CityThe average price of the active Ocean City MDreal estate listings is currently $376,000 andthe median price is $290,000. This brings the2012 YTD average listing price to $346,000,which is down by 3% from the $357,000average price at this point last year. 3% is wellwithin the typical variance that we see inOcean City based on the wide range of property types, location and sizes that wehave.

    4 6 0

    4 5 6

    4 5 3

    4 4 7

    4 3 6

    4 3 1

    4 2 6

    4 2 2

    4 0 1

    3 9 5

    3 9 5

    3 9 2

    3 9 5

    3 9 8

    3 9 7

    3 8 8

    3 9 2

    3 8 5

    3 8 3

    3 8 6

    3 8 2

    3 8 6

    3 7 8

    3 7 7

    3 7 7

    3 8 2

    3 8 0

    3 8 1

    3 7 3

    3 7 4

    3 6 6

    3 6 4

    3 6 8

    3 6 9

    3 7 7

    3 6 8

    250

    300

    350

    400

    450

    500

    550

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J J

    Ocean City Active Listing Prices Avg. Price Med.

    Ocean PinesThe average active listing price in Ocean Pinesis $320,000 and the median came in at$265,000. This brings the 2012 YTD averagelist price to $293,000, representing a 3%decrease from the $303,000 average list priceat this point last year. As with Ocean City thiswell within the typical variance we see.

    3 5 2

    3 5 7

    3 6 2

    3 6 6

    3 5 5

    3 4 8

    3 4 8

    3 4 0

    3 3 4

    3 3 7

    3 4 0

    3 3 7 3

    5 0

    3 5 5

    3 4 9

    3 5 2

    3 5 2

    3 4 2

    3 2 6

    3 2 6

    3 2 5

    3 2 4

    3 2 8

    3 2 2 3

    3 2

    3 3 4

    3 3 0

    3 3 5

    3 3 6

    3 2 7

    3 2 1

    3 1 0

    3 0 8

    3 1 0

    3 1 7

    3 2 5

    200

    250

    300

    350

    400

    450

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J J

    Ocean Pines Active Listing Prices Avg. Price Med. Pric

    Active Listing Prices

    Active Listing Volume

    www.oceancitypro.com Visit our Blog

    http://link.flexmls.com/rom5dy6z94i,11mailto:[email protected]:[email protected]://link.flexmls.com/roiye5o9s8g,11http://www.oceancitypro.com/-home-page.asphttp://www.oceancitycondosandhomes.com/http://www.oceancitycondosandhomes.com/http://www.oceancitypro.com/-home-page.asphttps://docs.google.com/spreadsheet/viewform?formkey=dE5uZ2w2dnhQUmYwblp1elE4UTY1QUE6MQhttp://link.flexmls.com/ox4wzw19sqj,11https://docs.google.com/spreadsheet/viewform?formkey=dEZ1VmYxb2pjQld0TXhwYzIyZTFRQmc6MQhttp://link.flexmls.com/roiye5o9s8g,11mailto:[email protected]://link.flexmls.com/rom5dy6z94i,11
  • 7/31/2019 Ocean City Maryland Real Estate Market Report

    2/6

    8 3

    7 0

    7 0

    8 2

    5 9

    5 1

    3 7

    5 3

    7 5 7

    7 8 3

    8 0 8

    1

    6 5

    8 1

    7 7

    7 0

    9 3

    3 4

    5 7

    8 2

    1 0 6

    1 0 3 1

    0 9

    8 1

    7 6

    6 5

    4 9

    6 0

    7 0

    3 6

    6 0

    9 9

    7 2

    9 9

    9 2

    0

    20

    40

    60

    80

    100

    120

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J J1

    Ocean City Sold Listing VolumeOcean City92 properties sold in Ocean City during July,which is on pace with last month and up by14% from the 81 properties that sold in July of last year. This brings the 2012 YTD total soldproperties in Ocean City to 569, which is off slightly from the 586 properties that had soldby this point last year. We will likely surpasslast years numbers this month with 151properties already under contract.View Ocean Citys July Sold Listings

    Ocean City MD and Ocean Pines MDReal Estate Market Report

    Nicholas A. Bobenko, Realtor Direct: 443-614-9179

    Email: [email protected]

    Ocean Pines20 properties sold in Ocean Pines during July,which is down from both last month and July of last year. This brings the YTD sold total for Ocean Pines to 143, which is on pace with the142 properties that had sold in Ocean Pines bythis point last year. With 60 proeprties alreadyunder contract in Ocean Pines look for thistrend to continue. It is also worth noting thatlast year was a good one for Ocean Pines.View Ocean Pines July Sold Listings

    2 0

    1 7

    1 6

    3 5

    1 3

    1 6

    1 2

    1 2

    5

    1 9

    2 5 2

    7

    2 2

    2 8

    2 5

    1 8

    1 4

    2 2

    1 3

    6

    1 5

    2 3

    2 2

    2 6

    2 5

    2 8

    2 4

    2 2

    2 6

    1 6

    1 6

    1 2 1

    4

    2 3

    2 8

    2 8

    0

    5

    10

    15

    20

    25

    30

    35

    40

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J J1

    Ocean Pines Sold Listing Volume

    Ocean CityThe average sold price in July was $259,000and the median came in at $229,000. Thisbrings the YTD average and median soldprices to $285,000 and $249,000 respectively.These represent an 8% and 6% decrease fromthe 2011 values of $311,000 average and$267,000 median. This partially attributed tothe fact that 51% of the listings sold in 2012have been $250,000 or less. Only 40% of thelistings sold by this point last year were below

    $250,000.

    3 4 1 3

    6 8

    3 7 8

    3 6 0

    3 2 9 3

    6 4

    2 8 8

    3 6 4

    3 3 4 3

    6 3

    3 0 6 3

    2 6 3

    5 6

    3 0 5

    3 5 3

    3 5 5

    3 2 2

    3 7 9

    3 4 5

    3 0 1

    2 6 8 2

    9 2

    3 4 7

    3 3 7

    3 0 9

    2 8 0

    2 6 5 2

    8 3

    3 6 0

    3 0 4

    2 6 0

    3 1 8

    3 1 0

    2 7 7 2

    9 9

    2 7 0

    100

    150

    200

    250

    300

    350

    400

    450

    500

    J

    09

    A S O N D J F M A M J J

    10

    A S O N D J F M A M J J

    11

    A S O N D J F M A M J

    Ocean City Sold Listing Prices Avg. PriceMed. Price

    Ocean PinesThe average sale price in Ocean Pines for Julywas $225,000 and the median came in at$181,000. This brings the 2012 YTD averageand median sold prices to $240,000 and$213,000. These are down by 3% and 1%respectively from the 2011 YTD levels of $248,000 and $210,000

    3 1 7

    2 5 4 2

    7 6

    3 0 1

    2 5 2 2

    7 1

    2 2 5

    2 6 7

    2 1 3 2

    3 1

    2 7 7

    2 6 5

    2 4 6

    2 4 2

    3 0 1

    2 2 4

    2 2 0

    2 9 2

    2 3 7

    3 7 4

    2 1 5

    2 5 4

    2 5 3

    2 1 3

    2 4 3

    2 0 8

    2 7 7

    2 2 9

    2 3 4

    1 9 7

    2 9 4

    2 1 4

    2 7 0

    2 5 9

    2 2 2

    2 2 1

    150

    200

    250

    300

    350

    400

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J

    Ocean Pines Sold Listing Prices Avg. Price Med.

    Sold Listing Prices

    Sold Listing Volume

    www.oceancitypro.com

    http://www.flexmls.com/link.html?x1ijzjhs072,11,1http://www.flexmls.com/link.html?x1ijzjhs072,11,1mailto:[email protected]://www.flexmls.com/link.html?x1ijzkyt6lv,11,1http://www.oceancitypro.com/-home-page.asphttp://www.oceancitypro.com/-home-page.asphttp://www.oceancitypro.com/just-sold.asphttps://docs.google.com/spreadsheet/viewform?formkey=dE9ObXY1SWtkeERKRkVmcHVQUC1rRlE6MQhttps://docs.google.com/spreadsheet/viewform?formkey=dGJSWW9pcWF1UTA5Z1J5alpfMFZnVnc6MQhttp://www.flexmls.com/link.html?x1ijzkyt6lv,11,1mailto:[email protected]://www.flexmls.com/link.html?x1ijzjhs072,11,1
  • 7/31/2019 Ocean City Maryland Real Estate Market Report

    3/6

    3 0 5

    3 0 4

    3 0 3 3

    2 4

    3 0 1 3

    1 4

    2 4 8

    2 8 8

    2 6 6 2

    8 3

    2 7 6

    2 6 3

    2 9 2

    2 4 8 2

    6 8

    2 6 8 2

    8 8

    2 6 7

    2 6 1

    2 2 8

    2 1 8 2

    3 3

    2 4 1 2

    5 8

    2 6 3

    2 4 8

    2 2 5 2

    4 1 2

    6 3

    2 3 6

    2 2 4

    2 3 1 2

    4 5

    2 3 2

    2 3 6

    2 3 8

    100

    150

    200

    250

    300

    350

    J09 A S O N D J F M A M J J10 A S O N D J F M A M J J11 A S O N D J F M A M J J1

    Ocean City Sold Price/Sq. Ft.Ocean CityThe average sold price per square foot inOcean City for July was $228. This brings the2012 YTD average sold price per square foot is$233, representing a 4% decrease from the2011 YTD level of $243,000. The fact that thisvalue is not seeing any huge swings up or down is certainly a positive sign.

    Ocean City MD and Ocean Pines MDReal Estate Market Report

    Nicholas A. Bobenko, Realtor Direct: 443-614-9179

    Email: [email protected]

    Ocean PinesThe average sold price per square foot inOcean Pines for July was $146, which is onpace with where it was in July of last year.This brings the 2012 YTD average sold priceper square foot to $144, which is up by 1%from the 2011 YTD value of $142.

    1 6 2

    1 4 0

    1 6 1 1

    7 1 1

    8 4

    1 5 8

    1 2 8

    1 6 8

    1 2 5 1

    4 1

    1 4 5

    1 4 2 1

    5 2

    1 5 6

    1 6 2

    1 3 8

    1 3 9

    1 6 5

    1 3 9

    1 6 7

    1 2 2

    1 4 6

    1 4 5

    1 3 4 1

    4 6

    1 3 8 1

    5 5

    1 4 3

    1 3 9

    1 4 2

    1 6 2

    1 3 9

    1 3 6 1

    5 2

    1 3 6

    1 3 9

    507090

    110130150170190210230250

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J J1

    Ocean Pines Sold Price/Sq. Ft.

    Ocean CityThe absorption rate in Ocean City currently liesat 17 months. This is down considerably fromwhere it was 3 years ago and is a trend thatwill continue with strong sales activity and lessproperties coming one the market.

    3129 28 28

    26 2624 24 24 24 24 23 23 22 23 22 22 22

    20 20 20 20 20 19 18 18 18 18 18 18 18 18 19 18 18 17

    10

    15

    20

    25

    30

    35

    40

    45

    50

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J

    Ocean City Absorption Rates

    Ocean PinesThe current absorption rate in Ocean Pines is 8months, which is down by 5 months fromwhere we were a year ago. For what isprimarily a 2 nd home market this is a normalinventory level. As with OC this is a trend thatwill continue as less homes come on themarket and the steady sales pace continues.

    24 23

    20 20

    17 16 15 15 1617 18 18

    19 18 1715 15 14 13 12 13 13 13 13 13 12.5 12 11 10

    8 8 9 9 8.5 8.5 8

    0

    5

    10

    15

    20

    25

    30

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J

    Ocean Pines Absorption Rates

    Absorption Rates

    Sold Price/Sq. Ft.

    www.oceancitypro.com

    mailto:[email protected]:[email protected]:[email protected]://www.oceancitypro.com/-home-page.asphttp://www.oceancitypro.com/-home-page.asphttp://www.oceancitypro.com/seller-information.asphttp://www.oceancitypro.com/foreclosuresshorts.aspmailto:[email protected]
  • 7/31/2019 Ocean City Maryland Real Estate Market Report

    4/6

    9 1 %

    9 3 %

    9 3 %

    9 1 %

    9 3 %

    9 1 %

    9 2 %

    9 0 %

    9 1 %

    9 2 %

    9 2 %

    9 3 %

    9 2 %

    9 3 %

    9 1 %

    9 1 %

    9 2 %

    9 2 %

    9 2 %

    9 4 %

    9 2 %

    9 2 %

    9 4 %

    9 2 %

    9 3 %

    9 3 %

    9 2 %

    9 2 %

    9 3 %

    9 2 %

    9 3 %

    9 3 %

    9 3 %

    9 3 %

    9 3 %

    9 3 %

    80%82%84%86%88%90%92%94%96%98%

    100%

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J J1

    Ocean City Sold to List Price RatioOcean CityOcean City MD real estate is currently sellingat 94% of the listing price, which is one of thehighest levels that we have seen in the past 3years. Well priced listings that are in goodcondition are selling quickly and in some caseswith multiple offers, which is leading to theincrease in this value.

    Ocean City MD and Ocean Pines MDReal Estate Market Report

    Nicholas A. Bobenko, Realtor Direct: 443-614-9179

    Email: [email protected]

    Ocean PinesOcean Pines property is currently selling at95% of the listing price. Ocean Pines has seena huge decrease in inventory over the pastyear that is leading to increased competition for the better listings. As the result of this andsome Sellers pricing their properties accordingto current market conditions, this value istrending upward.

    9 2 %

    8 5 %

    8 8 %

    8 5 %

    8 9 %

    8 7 %

    9 1 %

    8 6 %

    9 1 %

    8 6 %

    8 6 %

    8 7 %

    9 0 %

    8 9 %

    9 1 %

    8 9 %

    8 8 %

    9 4 %

    9 0 %

    9 3 %

    9 6 %

    9 4 %

    9 4 %

    9 3 %

    9 5 %

    9 5 %

    9 4 %

    9 3 %

    9 4 %

    9 3 %

    9 5 %

    9 1 %

    9 3 %

    9 4 %

    9 5 %

    9 4 %

    80%82%84%86%88%90%92%94%96%98%

    100%

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J J1

    Ocean Pines Sold to List Price Ratio

    Ocean CitySold Ocean City property is currently averaging260 days on the market. It is worth noting thatthis is merely and average. Well priced listingsthat are in good condition are selling within 45-60 days of being listed. The older andoverpriced listings tend to sit on the marketuntil they are priced right which pulls this valueup.

    3 8 1

    3 9 4

    3 0 1

    2 8 3

    2 1 9

    3 9 3

    3 2 6

    2 2 4

    2 9 7

    2 6 9

    2 1 3

    2 1 1

    2 6 8

    2 0 5

    1 7 8

    1 8 4

    2 5 0

    2 0 6

    3 2 8

    3 0 8

    2 1 9

    2 2 5

    2 4 0

    2 5 1

    1 7 7

    2 3 6

    2 9 6

    2 2 5 2

    4 2 2

    8 2

    2 4 1

    2 4 7

    2 5 9

    2 3 9 2

    5 7

    2 4 1

    050

    100150200250300350400450500

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J

    Ocean City Avg. Days on Market

    Ocean PinesSold Ocean Pines property is currentlyaveraging 155 days on the market. Outside of the spikes during the winter months this is apretty typical range for Ocean Pines.

    7 3

    2 4 2

    2 0 2

    2 7 7

    1 2 6

    1 6 6

    1 2 7

    2 3 6

    4 7

    1 6 3

    2 4 5

    2 2 6

    1 4 4 1

    7 8

    1 1 3

    1 8 6

    1 3 6

    1 2 6

    2 2 1

    2 2 8

    2 6 9

    1 6 0

    1 5 8

    1 3 8

    1 3 7

    1 2 1

    1 9 0

    1 2 6

    1 3 8

    3 0 5

    2 2 3

    1 3 6

    2 1 5

    1 5 0

    1 1 9

    1 6 9

    0

    50

    100

    150

    200

    250

    300

    350

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J

    Ocean Pines Avg. Days on Market

    Average Days on Market

    Sold to List Price Ratios

    www.oceancitypro.com

    mailto:[email protected]:[email protected]:[email protected]://docs.google.com/spreadsheet/viewform?formkey=dE5uZ2w2dnhQUmYwblp1elE4UTY1QUE6MQhttp://www.oceancitypro.com/buyer-information.asphttp://link.flexmls.com/ox4wzw19sqj,11mailto:[email protected]
  • 7/31/2019 Ocean City Maryland Real Estate Market Report

    5/6

    8 6

    1 0 9

    8 3

    7 9

    5 5

    4 4

    7 3

    6 7

    8 6

    1 1 1

    9 5

    7 9

    8 8

    1 0 3

    8 8

    8 4

    7 2

    5 7

    6 9

    8 2

    1 0 4

    9 4

    9 2

    1 0 1

    7 1

    7 1 7

    7

    5 7

    4 7

    6 9

    1 0 3 1

    0 9 1

    2 1

    1 0 1

    9 0

    0

    20

    40

    60

    80

    100

    120

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J J1

    Ocean City Under Contract Listing VolumeOcean City117 properties went under contract in OceanCity during July, representing a 16% increaseover the 101 properties that went under contract in July of 2011. This is the 2 nd highestmonth of activity in the past 3 years andcertainly a positive sign of things to come.

    View Ocean City Properties Under Contract

    Ocean City MD and Ocean Pines MDReal Estate Market Report

    Nicholas A. Bobenko, Realtor Direct: 443-614-9179

    Email: [email protected]

    Ocean Pines34 listings went under contract in Ocean Pinesduring July, which is on track with July of lastyear. As with Ocean City this is one of the bestmonths we have seen in the past 3 years.Look for this trend to continue as 14 propertiesare already under contract through the 1 st week of August.

    View Ocean Pines Properties Under Contract

    1 9 2

    2 2 4

    1 9

    1 1

    1 1 1

    2

    9

    1 5

    2 8

    2 1 2

    2 2 7 2

    9

    1 7

    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

    05

    101520253035404550

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J J1

    Ocean Pines Under Contract Listing Volume

    Ocean CityThe average price of properties that wentunder contract in July was $295,000 and themedian came in at $249,000. As wementioned earlier, a lot of what is selling is inthe lower price brackets which is having anaffect on the average and median sold pricevalues.

    4 2 1 4

    5 9

    3 5 7 4

    0 2 4

    4 0

    4 0 4

    4 1 3

    4 0 6

    3 8 1

    3 5 0 3

    9 5

    3 6 3 3

    8 2

    3 7 7 4

    1 8

    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

    100150200250300350400450500550600

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J

    Ocean City Under Contract Listing Prices

    Ocean PinesThe average price of properties that wentunder contract in Ocean Pines during July was$243,000 and the median was $216,000. Asyou can see there is no real rhyme or reason toOcean Pines. It largely depends on whatproperty types and sizes sell in any givenmonth.

    2 6 6

    2 9 8 3

    1 2

    2 5 5

    2 3 4

    3 1 6

    2 7 9

    3 4 5

    2 5 2

    2 5 2

    3 0 7

    2 4 9

    2 9 1

    2 6 6

    2 3 3 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

    100

    150

    200

    250

    300

    350

    400

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J

    Ocean Pines Under Contract Listing Prices

    Under Contract Listing Prices

    Under Contract Listing Volume

    www.oceancitypro.com

    http://www.flexmls.com/link.html?x1ijzoe3200,11,1mailto:[email protected]:[email protected]:[email protected]://www.flexmls.com/link.html?x1ijzmb3h9r,11,1http://www.oceancitypro.com/-home-page.asphttp://www.oceancitypro.com/-home-page.asphttps://docs.google.com/spreadsheet/viewform?formkey=dGJSWW9pcWF1UTA5Z1J5alpfMFZnVnc6MQhttps://docs.google.com/spreadsheet/viewform?formkey=dEZ1VmYxb2pjQld0TXhwYzIyZTFRQmc6MQhttps://docs.google.com/spreadsheet/viewform?formkey=dE9ObXY1SWtkeERKRkVmcHVQUC1rRlE6MQhttp://www.flexmls.com/link.html?x1ijzmb3h9r,11,1mailto:[email protected]://www.flexmls.com/link.html?x1ijzoe3200,11,1
  • 7/31/2019 Ocean City Maryland Real Estate Market Report

    6/6

    1 5 6 1

    8 2

    2 1 5

    1 7 1

    1 2 1

    1 6 6

    1 4 7

    2 6 7

    2 3 5

    2 0 8

    1 6 3

    1 9 5

    1 5 1 1

    6 5 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

    0

    50

    100

    150

    200

    250

    300

    J09 A S O N D J F M A M J J10 A S O N D J F M A M J J11 A S O N D J F M A M J J1

    Ocean City New Listing VolumeOcean City123 new listings hit the Ocean City MD realestate market in July, which is a 10% decreasefrom the 136 properties that came on themarket in July of 2011. This brings the YTDtotal new listings to 1007, representing a 12%decrease from the 1142 properties that hadbeen listed by this point in 2011. This is atrend that will continue and is having asignificant impact on the OC market.View Ocean Citys New Listings for July

    Ocean City MD and Ocean Pines MDReal Estate Market Report

    Nicholas A. Bobenko, Realtor Direct: 443-614-9179

    Email: [email protected]

    Ocean Pines35 new properties were listed in Ocean Pinesduring July, which is down by 13% from the 40properties that were listed in July of 2011. Thisbrings the YTD total for Ocean Pines to 259new properties, representing a 13% decreasefrom the 298 new properties that had come onthe market by this point last year. This isleading to increased competition for the better listings as soon as they hit the market.View Ocean Pines New Listings for July

    4 3

    3 6

    4 2

    3 6

    2 3 2

    4

    3 7

    2 9

    5 9

    4 9

    5 5

    4 6

    5 5

    3 5

    3 3

    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

    0

    10

    20

    30

    40

    50

    60

    70

    80

    J09

    A S O N D J F M A M J10

    J A S O N D J F M A M J J11

    A S O N D J F M A M J J1

    Ocean Pines New Listing Volume

    Ocean CityThe average and median new listing prices inOcean City during July were $297,000 and$250,000 respectively. These are downconsiderably from where we were a year ago.Part of this is that a majority of Sellersunderstand the market and are pricing their properties accordingly. Part of it is alsoattributed to the fact that 77% of the newlistings this month were $300,000 or below.

    3 6 2

    3 6 5

    3 5 6

    5 0 1

    3 9 2

    3 3 7

    3 8 3

    3 9 8

    3 6 2

    3 4 5

    3 4 9

    4 2 3

    4 0 0

    3 8 7

    3 7 9

    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

    100150200250300350400450500550600

    J

    09

    A S O N D J F M A M J J

    10

    A S O N D J F M A M J J

    11

    A S O N D J F M A M J

    Ocean City New Listing Prices

    Ocean PinesThe average and median new listing prices inOcean Pines for July were $324,000 and$272,000 respectively. The opposite of whathappened in Ocean City occurred in OceanPines, 46% of the new listings in Ocean Pineswere over the $300,000 mark which pulled thisvalue up.

    3 7 5

    2 7 7

    3 4 5

    3 2 9

    3 1 5

    3 0 4

    2 6 7

    3 3 2

    3 3 3

    3 1 5

    3 6 9

    2 8 8 3

    0 7

    2 2 9

    3 2 4

    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

    100

    200

    300

    400

    500

    J09

    A S O N D J F M A M J J10

    A S O N D J F M A M J J11

    A S O N D J F M A M J

    Ocean Pines New Listing Prices

    New Listing Prices

    New Listing Volume

    www.oceancitypro.com

    http://www.flexmls.com/link.html?x1ijzq3sxfx,11,1http://www.flexmls.com/link.html?x1ijzq3sxfx,11,1mailto:[email protected]:[email protected]:[email protected]://www.flexmls.com/link.html?x1ijzsx8w85,11,1http://www.oceancitypro.com/-home-page.asphttp://www.oceancitypro.com/-home-page.asphttp://link.flexmls.com/ox4wzw19sqj,11http://www.oceancitypro.com/foreclosuresshorts.asphttp://www.oceancitypro.com/just-listed.asphttp://www.flexmls.com/link.html?x1ijzsx8w85,11,1mailto:[email protected]://www.flexmls.com/link.html?x1ijzq3sxfx,11,1