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Ocean City MD Real Estate Market Update [September 2017]

Michael Nolen of Coldwell Banker Realty
by Michael Nolen of Coldwell Banker Realty on October 10, 2017 at 9:00 AM

The Ocean City MD real estate market is hot. Often properties are going under contract in a blink of an eye. If you're considering buying a condo or home in Ocean City, MD, you'll want to stay ahead of the market and be aware of market changes. In this October 2017 video market update, I'll share trends for the Ocean City MD real estate market for September 2017.

[September 2017 Market Update]

Residential Real Estate in Ocean City, MD

Let's take a look at residential real estate active in Ocean City, MD.

Beach_Access_48th_St_1800x1200.jpg

 

Active Inventory 

During the month of September the number of active listings was down  18% from 2016 and did not change 0% percent from the month of July. With less inventory buyers who waited to buy may have a smaller selection to choose from.

Median Listing Price

 
As you can see from the market watch video below, the median listing price in the Ocean City MD real estate market was just under $320,000.
 

Days on Market

 
The average number of days that properties spent on the market before being sold decreased  25%. This higher number of days may signal a slow down in the local inventory turnover rate.
 

Median Sales Price

 
The median sale price was just under $250,000.
 

Home Sales

 
The number of properties sold decreased  12% compared to 2016 and increased  2% compared to August 2017. This increase in home sales trends shows positive momentum for buyers looking for Ocean City MD Real Estate for Sale.
 
Interested in reviewing more trends for the Ocean City, MD real estate market? Read all of my market updates here.
 

Market Watch Video Update

Ocean City, MD Real Estate Market [September 2017]

 

 

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Michael Nolen of Coldwell Banker Realty
Michael brings a diverse background of mortgage, loan servicing and housing experience. Michael offers his clients a variety of helpful resources, guides and services that helps make buying and selling coastal real estate in the Ocean City, Ocean Pines, and Coastal Delaware markets. Michael has over 11 years industry experience and invests and manages vacation rental properties in the Ocean City, MD area through Nolen Invest and Nolen Vacation Rentals.
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