Ocean City MD Real Estate Market Report - Jan. 2013

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.
com
A Division of The Mark Fritschle Group | Condominium Realty LTD
Ocean City and Ocean Pines Market Report Search All Area Listings
We provide the most advanced consumer search available that is linked directly to the Multiple Listing Service that we use.
New Listing Updates

Sign up for email updates with new listings and price adjustments for the type of properties you are looking for
Active Listing Volume

Ocean City The overall inventory in Ocean City dropped by 24% from the 2011 levels. This is certainly a positive sign and a trend that will continue. I anticipate that by the middle of 2013 we will be back at normal inventory levels for a second home market.
1886 1836 1850 1885 1825 1834
Ocean City Active Listing Volume

1825 1775 1770 1731 1717 1658 1606 1604 1574 1590 1604 1565 1545 1521 1508 1493 1451 1420 1426 1393 1447 1407 1361
Search All Ocean City Listings
2000 1800 1600 1400 1200 1000 800 600 400 200 0
1820
1287
1231
1196
1198
1183 184 362 322
1126 168 362 316
D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D 09 10 11 12
Ocean Pines The overall inventory level dropped by 23% in 2012. This is a great sign and has brought the absorption rate in Ocean Pines to 7 months. When considering Ocean Pines is primarily a nd 2 home market this is a normal inventory level.
Ocean Pines Active Listing Volume

304 299 286 295
350
273 264 252 251 252
314
278
269
259
254
256
238
240
246
225
224
232
300 250 200 150 100 50
258
268
214
192
192
189
188
188
186
172
179
185
191
Search All Ocean Pines Listings
0 D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D 09 10 11 12
Active Listing Prices

Ocean City For the year the average active listing price was down by 4% and the median was down by 5%. All in all prices in Ocean City held their own as both of these values are close to the typical variance that we see. A majority of the downward pressure is attributed to older properties that must reduce in order to sell and the small volume of distressed properties that we see. Ocean City Active Listing Prices
550
431
Avg. Price Med. Price 3 per. Mov. Avg. (Avg. Price)
500 450 400 350 300 250
426
422
401
398
395
395
392
395
397
388
392
386
385
383
382
386
382
378
377
377
380
381
377
373
374
376
368
369
366
368
373
364
365
Avg. Price Med. Price 3 per. Mov. Avg. (Avg. Price) 3 per. Mov. Avg. (Med. Price)
Ocean Pines For the year the average active listing price was down by 3% from 2011 and the median listing price was unchanged. Yet another sign that the Ocean Pines market has stabilized. As with Ocean City the decrease on the average price is within the variance that we see and is largely caused by older, undesirable properties.
Ocean Pines Active Listing Prices

450
355
352
350
348
348
349
352
400 350 300 250 200
340
337
340
337
342
334
332
334
330
335
336
328
326
326
325
327
324
322
321
325
320
329
320
310
308
310
317
320
362
148
1104
Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Ocean City and Ocean Pines Market Report Sold Listing Updates
Sign up to get email updates when properties sell in areas that are of interest to you, based on your specifications.
Recently Sold Listings

View Multiple Listing Service reports of the properties that have sold over the most recent 90 day period, broken down by area.
Sold Listing Volume

Ocean City 980 properties sold in Ocean City during 2012, representing an 8% increase over the 911 that sold during 2011. This is yet another positive sign considering that 2011 was good year for the Ocean City real estate market in terms of activity. I would anticipate the sales volume to be up again in 2013 as there is a tremendous amount of activity right now in traditionally what is our slowest month. View Ocean Citys December Sold Listings Ocean City Sold Listing Volume
103 93 99 99
120
83 81 81 82 80
106
109
92
92
91 72
77
77
81
75
76
70
65
65
60
51
53
57
60 40 20 0
37
49
Ocean Pines A total of 246 properties sold in Ocean Pines during 2012, which is a 7% decrease from the 263 properties that sold in 2011. Ocean Pines had a big year in 2011, which I feel pulled some of the demand from 2012. In addition the inventory was greatly reduced so there are a lot of folks just waiting for the right opportunity. View Ocean Pines December Sold Listings
Ocean Pines Sold Listing Volume

28 28 28 26 25 25 25 26 23 24
34
36
60
80
70
72
86
100
89 22 18 282 242 290 284 257 300 17 67
19
16
16
15
16
14
15 10 5 0
12
12
13
Sold Listing Prices

Ocean City
Ocean City Sold Listing Prices

500
364 364 363 379
12
14
The average sales price in Ocean City for 2012 was down by 6% and the median was down by 4%. Most of the continued downward pressure is from small, older properties that dont offer any views. Prices on most ocean side property and waterfront property have stabilized and are seeing price appreciation in some segments of those markets.
Avg. Price Med. Price
450 400 350 300 250 200 150 100
356
353
355
345
347
334
326
322
337
360
318
306
305
309
301
304
310
288
292
283
299
280
277
268
265
260
270
208
200 150 D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D 09 10 11 12
197
199
Ocean Pines The average sales price in Ocean Pines was up by 2% in 2012 and the median sales price was up by 3%. As the inventory in Ocean Pines returned to normal levels, competition increased for the better listings and led to some price improvement.
400 350
277 271 267
301
374
Ocean Pines Sold Listing Prices
Avg. Price Med. Price 3 per. Mov. Avg. (Avg. Price)
292
277
294
254
246
253
242
237
243
231
225
229
234
259
224
222
220
215
213
250
213
214
221
225
262
300
265
270
259
282
311
15
20
18
20
25
22
22
22
22
23
25
30
27
28

Ocean City and Ocean Pines Market Report Distressed Listing Updates
Sign up to receive email updates as the new foreclosure and short sale listings hit the market in the areas that are of interest to you.
Foreclosures and Short Sales

View all of the foreclosure and short sale listings currently available in Ocean City, Ocean Pines, Berlin and West Ocean City.
Sold Price/Sq. Ft.

Ocean City The average sold price per square foot for 2012 was $236, which is down by 2% from the 2011 average sold price per square foot of $242.This another good sign of market improvement and stabilization. 2% is well within the typical price variance that we see considering the wide range of property types, size and price points that Ocean City offers. Ocean City Sold Price/Sq. Ft.
288 292
350 300 250 200 150 100
314
283
276
268
268
288
266
263
267
263
261
248
248
258
248
263
241
241
245
246
236
236
238
233
228
231
232
225
Ocean Pines The average sold price for 2012 remained unchanged from 2011, coming it $143 per square foot. There is not better indicator of stabilization as this gets everything as close to apples to apples in a market that offers a wide range of property types, sizes and price points.
Ocean Pines Sold Price/Sq. Ft.

250 230 210 190 170 150 130 110 90 70 50
168
162
165
167
218
158
156
155
162
224
228
233
235 138 9
152
146
146
152
145
145
142
143
142
146
155 8
239
141
139
139
139
139
138
138
136
134
136
139
128
125
Absorption Rates
Ocean City The absorption rate in Ocean City decreased by 5 months during 2012. This large decrease is attributed to a strong and steady sales pace, as well as considerably less inventory coming on the market. Ocean City Absorption Rates
50 45 40 35 30 25 20 15 10 D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D 09 10 11 12
26 24 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 17 16 16 15 14 13
Ocean Pines The absorption rate in Ocean Pines decreased by 1 month in 2012, primarily attributed to a steady sales pace. This puts Ocean Pines at a normal inventory level when considering they nd are primarily a 2 home market.
20 18 16 14 12 10 8 6 4 2 0
16
15 15
16
17
18 18
19
Ocean Pines Absorption Rates

18 17 15 15 14 13 13 13 13 13 13 12.5 12
12
122
11
10 8 8
9 8.5 8.5 8
130
140
D J F M A M J 09
J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D 10 11 12
142 7
247

Ocean City and Ocean Pines Market Report Selling Real Estate
View our comprehensive marketing plan that we utilize to get our clients the highest price possible in the shortest amount of time.
Property Valuation
Fill out our quick property information form and we will email you a comprehensive valuation report for your home or condo.
Sold to List Price Ratios

Ocean City The average sales to list price ratio for 2012 came in at 93%, which is a slight improvement over the 2011 value of 92.5%. Looking back over the past few years this is obviously the sweet spot for Ocean City and leaves plenty of room for negotiation. As the inventory continues to drop and competition increases for the better listings I would expect this value to increase a point or two in 2013.
100% 98%
93% 93% 92% 92% 92% 92% 92% 92% 92%
Ocean City Sold to List Price Ratio

94% 94% 94% 94% 95% 94% 153 184 94 40 89 93% 93% 93% 93% 93% 93% 93% 93% 93% 92% 92% 92% 92% 92% 92% 92% 93% 95% 117 94% 103 94%
96%
91%
91%
91%
92% 90% 88% 86% 84% 82% 80%
90%
94%
Ocean Pines The overall average sold to list price ratio for Ocean Pines in 2012 was 94%, which is the same as it was in 2011. This value has improved considerably from where it was a few years ago. I think we are now in the sweet spot and I would anticipate for it to remain in this range for 2013.
96%
100% 98% 96%

91% 91% 91% 90%
91%
Ocean Pines Sold to List Price Ratio

95% 95% 95% 95% 95% 260 155 94% 94% 94% 94% 94% 93% 93% 94% 93% 93% 93% 94% 95% 233 150 119 169 215 93% 249
89%
87%
86%
86%
88% 86% 84% 82% 80%
Average Days on Market

Ocean City The median days on market in Ocean City for 2012 was 133 days, representing a 6% improvement over the 2011 value of 142 days. As inventory continues to decrease this value will continue to improve as people compete for the better listings that come on the market. *Please note that we revised the value that we use in this table in September. Ocean City Avg. Days on Market
500 450 400 350 300 250 200 150 100 50 0
393 326 328 308
297
86%
90%
87%
88%
92%
89%
90%
94%
296
269
268
282
91%
259
250
251
242
241
247
257
240
225
236
224
213
211
205
178
184
206
219
*Please note that we revised the value that we use in this table in September.
50 0 D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D 09 10 11 12
47
Ocean Pines The median days on market in Ocean Pines for 2012 was 86 days, representing a 22% improvement over the 2011 value of 110 days. This increase is attributed to the fact that inventory is down considerably in Ocean Pines and competition has increased for the better listings when they hit the market.
Ocean Pines Avg. Days on Market

236
177
225
226
228
221
223
166
163
178
186
160
138
136
137
138
127
126
150 100
113
121
126
136
200
144
158
190
250
215
300
245
269
350
305
239
241

Ocean City and Ocean Pines Market Report Useful Buying Information
View a series of articles and videos that we have put together which explain and outline the various phases of buying real estate.
Buyer Action Plan

View the plan and steps that we take to ensure our Buyer clients get the best deal possible through a relaxed and stress free transaction.
Under Contract Listing Volume

Ocean City A total of 1047 properties went under contract in Ocean City in 2012, which is a 14% increase over the 922 from 2011. This is a pretty substantial increase in activity that is already spilling over into 2013. Some of these are not reflected in the sold activity yet as you can see a lot of the increase was in the later months of the year. Look for 2013 to get off to a solid start as a result. View Ocean City Properties Under Contract Ocean Pines A total of 254 properties went under contract in Ocean Pines during 2012, which is a 6% decrease from 2011s volume of 271 properties. The Ocean Pines market had a great year in 2011 so this decrease is not necessarily a bad thing. Some of this decrease can be attributed to the fact that inventory is thin in some segments of the Ocean Pines market. View Ocean Pines Properties Under Contract
121
Ocean City Under Contract Listing Volume

111 117 101 103 95 94 92 101 103
120
86
104
109
106 85 91 69 25 20 322 334 264 183 287 265 292 301 6 52 254 324 17 24
84
79
82
100
73
88
88
72
71
69
71
77
80
44
67
57
60 40 20 0
57
Ocean Pines Under Contract Listing Volume

50 45 40 35 30 25 20 15 10 5 0
35 34 35 34 21 326 309 221 267 285 290 232 239 243 295
47
69
31
32
30
28
27
29
23
22
23
27
21
22
30
20
19
17
17
15
16
17
11
12
Under Contract Listing Prices

Ocean City The overall median price of properties that went under contract in 2012 was $266,000, which is down by 4% from the 2011 value of $276,000. This goes hand in hand with the average and median active listing prices being down slightly this year. In addition fewer higher end listings sold in 2012 than 2011, which had an impact on this value. Ocean City Under Contract Listing Prices
600 550 500 450 400 350 300 250 200 150 100
413 404 406 418
395
381
382
396
377
363
375
379
350
340
339
351
380
327
330
326
334
14
314
310
312
Ocean Pines The average price of properties that went under contract in Ocean Pines during 2012 was $247,000, representing a 5% decrease from the 2011 value of $259,000. As with Ocean City sales of homes over $500,000 were down considerably while sales of homes less than $140,000 were up considerably, ultimately leading to a decrease in this value.
345
400
316
291
279
266
276
282
350 300 250 200 150 100
307
323
369
Ocean Pines Under Contract Listing Prices
281
264
266
310
257
252
252
249
253
242
242
243
249
262
233
232
207
237
264
324
18
31
90

Ocean City and Ocean Pines Market Report Search ALL Listings
Search all of the available area listings based on your specifications through the MLS, which is the same database we utilize.
Just Listed Properties

View new listings and price adjustments that have become available over the most recent 7 day period, broken down by area.
New Listing Volume

Ocean City A total of 1604 properties were listed in Ocean City during 2012, representing a 7% decrease from the 1721 that were listed during 2011. This has helped with the improvement of the overall inventory levels. In addition it is leading to thin inventory levels in some segments of the market that leads to increased competition for the better listings. View Ocean Citys New Listings Ocean City New Listing Volume
300 250
166 147 267 235 208
195
178
188
193
160
151
156
151
146
142
151
158
137
136
138
133
126
121
123
130
131
141 23 365
200 150 100 50 0
163
165
170
183
75
94
112
114 12 284 258 359 323 10 75
Ocean Pines A total of 371 properties were listed in Ocean Pines during 2012, representing a 12% decrease from the 421 that were listed in 2011. As a result of this inventory has gotten thin in some segments of the market that has led to a bit of a slow down. There are a fair amount of Buyers waiting on the sidelines for the right opportunity. View Ocean Pines New Listings
Ocean Pines New Listing Volume

80
59 55 57
70 60
37
55
49
52
67
46
46
48 40
37
37
35
35
37 30
33
29
28
40
24
33
21
16
18
30 20 10 0
24
22
26
34
35 297 324
39 352 337 266 294 297 22
50
New Listing Prices

Ocean City The overall average new listing price in 2012 was $330,000, which is down by 9% from the 2011 average new listing price of $330,000. This decrease is attributed to the fact that there was a substantial decrease in new listings over $400,000 and a substantial increase in new listings priced at $150,000 or less. Ocean City New Listing Prices
600 550 500 450 400 350 300 250 200 150 100
423 413
398
400
388
387
383
379
381
387
388
374
362
369
372
377
13
359
354
345
349
350
354
341
337
341
345
325
336 305
362 255 308 309
229
200
100 D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D 09 10 11 12
218
Ocean Pines The average new listing price in Ocean Pines for 2012 was $298,000, which is on pace with the 2011 average new listing price of $301,000. Yet another sign that the Ocean Pines market has stabilized.
500
369
Ocean Pines New Listing Prices

355 358 370
332
333
324
315
319
307
304
305
303
293
291
314
288
291
283
288
335
400
267
305
264
264
273
300
257
43

Ocean City MD Real Estate Market Report - Jan. 2013

Diunggah oleh

Informasi Dokumen

Hak Cipta

Format Tersedia

Bagikan dokumen Ini

Bagikan atau Tanam Dokumen

Opsi Berbagi

Apakah menurut Anda dokumen ini bermanfaat?

Apakah konten ini tidak pantas?

Hak Cipta:

Format Tersedia

Ocean City MD Real Estate Market Report - Jan. 2013

Diunggah oleh

Hak Cipta:

Format Tersedia

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.

New Listing Updates

Active Listing Volume

Ocean City Active Listing Volume

Search All Ocean City Listings

1183 184 362 322

1126 168 362 316

Ocean Pines Active Listing Volume

300 250 200 150 100 50

Search All Ocean Pines Listings

Active Listing Prices

500 450 400 350 300 250

Ocean Pines Active Listing Prices

400 350 300 250 200

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Recently Sold Listings

Sold Listing Volume

Ocean Pines Sold Listing Volume

89 22 18 282 242 290 284 257 300 17 67

Sold Listing Prices

Ocean City Sold Listing Prices

Avg. Price Med. Price

450 400 350 300 250 200 150 100

Ocean Pines Sold Listing Prices

Avg. Price Med. Price 3 per. Mov. Avg. (Avg. Price)

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Foreclosures and Short Sales

Sold Price/Sq. Ft.

350 300 250 200 150 100

Ocean Pines Sold Price/Sq. Ft.

Ocean Pines Absorption Rates

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Sold to List Price Ratios

Ocean City Sold to List Price Ratio

92% 90% 88% 86% 84% 82% 80%

100% 98% 96%

Ocean Pines Sold to List Price Ratio

88% 86% 84% 82% 80%

Average Days on Market

Ocean Pines Avg. Days on Market

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Buyer Action Plan

Under Contract Listing Volume

Ocean City Under Contract Listing Volume

Ocean Pines Under Contract Listing Volume

Under Contract Listing Prices

350 300 250 200 150 100

Ocean Pines Under Contract Listing Prices

Direct: 443-614-9179 Email: ocnick55@gmail.com Web: oceancitycondosandhomes.com

Just Listed Properties

New Listing Volume

200 150 100 50 0

114 12 284 258 359 323 10 75

Ocean Pines New Listing Volume

39 352 337 266 294 297 22

New Listing Prices

362 255 308 309

Ocean Pines New Listing Prices

Anda mungkin juga menyukai