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.
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.
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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