Is Ocean View, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Ocean View was a Neutral Market.
Key Takeaway
Ocean View is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Ocean View, DE
How much do homes in Ocean View, DE cost?
Median Sold Price
$505,000
$259/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since March 2023.
Key Takeaway
The sold price of homes in Ocean View has remained the same since last year.
Summary: The median home sold price in Ocean View was $505,000 in March 2024, the same as last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $239K | - | N/A |
| 2 Bedrooms | $352K | $365K | +3.7% |
| 3 Bedrooms | $420K | $432K | +2.9% |
| 4 Bedrooms | $617.2K | $615K | -0.4% |
| 5+ Bedrooms | $751.5K | $770K | +2.5% |
Summary: Ocean View housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 2.5%.
Median Sold Price Compared To Nearby Cities
| Bethany Beach | $836K | $910K | +8.9% |
| Ocean View | $505K | $505K | 0.0% |
| Selbyville-Frankford | $534K | $530.7K | -0.6% |
| Millville | $450K | $430.4K | -4.3% |
Housing Supply in Ocean View, DE
How many homes are available in Ocean View, DE?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 178 | 189 | +6.2% |
Summary: The Ocean View real estate market had 189 homes for sale in March 2024, a 6.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 15 | 18 | +20.0% |
| 3 Bedrooms | 82 | 86 | +4.9% |
| 4 Bedrooms | 60 | 68 | +13.3% |
| 5+ Bedrooms | 21 | 17 | -19.0% |
Summary: The Ocean View housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes decreased by 19%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 21 | -4.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ocean View, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in Ocean View in March 2024, down by 4.5% month-over-month. Of the 21 sold homes, 57% were sold under asking, 24% were sold at asking, and 19% were sold over asking.
Days on Market for Ocean View, DE
How long does it take to sell a home in Ocean View, DE?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 66 Days | 46 Days | -29.8% |
Summary: Homes in Ocean View had an average of 46 days on market in Mar 2024, down by 29.8% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ocean View are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 21 homes were sold in Ocean View; 62% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
