Is Ocean City, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Ocean City is a seller's market

Buyer's
Market

Difference Since August 2021

Since last year, Ocean City has remained a Seller's Market.

Key Takeaway

Ocean City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Ocean City, MD cost?

Median Sold Price

$384,966

$382/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$50,966(+15.3%)

Key Takeaway

Homes in Ocean City have sold for 15.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $190K$250.4K
+31.8%
2 $313.4K$364.3K
+16.2%
3 $442.7K$515.2K
+16.4%
4 $675K$735K
+8.9%
5+ $750K$1.0M
+33.3%

Median Sold Price Compared To Nearby Cities

Bishopville
+43.8%
Selbyville-Frankford
+21.1%
Ocean City
+15.3%

How many homes are available in Ocean City, MD?

Number of Homes For Sale

Jul 2022Aug 2022%
236336+42.4%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 5070
+40.0%
2 93136
+46.2%
3 6794
+40.3%
4 1827
+50.0%
5+ 89
+12.5%

Number of Homes Sold

Jul 2022Aug 2022%
487+2075.0%

Asking Price vs. Sold Price

44 Homes Were Sold
Under Asking

19 Homes Were Sold
At Asking

24 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Ocean City, you may be able to get a good deal. 50.6% of homes here sold below asking price last month.

Average Sale Time

Aug 2021Aug 2022%
24 Days24 Days-2.0%

Breakdown of Home Sale Times

61 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Ocean City are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Ocean City, MD

Number of homes for sale in Ocean City, MD real estate market have reached 336. The number of listings in Ocean City, MD increased by 42.4% between July 2022 and August 2022. In August 2022 median list price was $384,966 and the average listing age was 24 days. From July 2022 through August 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties went up by 31.8%, 2 bedrooms properties became 16.2% more expensive, 3 bedrooms properties became 16.4% more expensive, the cost of 4 bedrooms properties went up by 8.9%, 5 bedrooms properties became 33.3% more expensive. Housing inventory have changed in this real estate market: 1 bedroom homes became 40% more available, 2 bedrooms homes became 46.2% more available, volume of 3 bedrooms homes went up by 40.3%, 4 bedrooms homes inventory increased by 50%, 5 bedrooms homes inventory increased by 12.5%. While more than 24 listings in Ocean City, MD in August 2022 were sold above asking price, there were more than 19 listings sold at asking price, and more than 44 were sold below.

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