Active Listing Volume: Visit Our Blog

Ocean City MD and Ocean Pines MD Real Estate Market Report Nicholas A.
Bobenko, Realtor Direct: 443-614-9179 Email: ocnick55@gmail.com
www.oceancitypro.com
Visit our Blog
Active Listing Volume

Ocean City There are currently 1447 properties on the market in Ocean City, which is down by 11.5% from where we were this time last year. These levels have been flat the past couple of months which is typical. This is the best time of year for Sellers to put properties on the market in anticipation of the coming summer season and as a result inventory tends to swell slightly. View Ocean City Active Listings Ocean City Active Listing Volume
2071 2072 2024 1979 1952 1916 1913
2500 2000 1500 1000 500 0
2105
1886
1863
1836
1850
1885
1825
1834
1820
1825
1775
1770
1731
1717
1658
1606
1604
1574
1590
1604
1565 1545
1521
1508
1493
1451
1420
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 J F M 09 10 11 12
Ocean Pines There are currently 192 properties available in Ocean Pines, which is down by 20% from where we were in March of 2011. This is certainly an encouraging sign. As with Ocean City we see a bump in inventory this time of year due to the flurry of Buyer activity that comes with the approaching season. View Ocean Pines Active Listings
Ocean Pines Active Listing Volume

329 337 328 319 328 329
400 350 300 250 200 150 100 50 0
304
314
299
280
286
295
277
273
278
269
265
264
259
258
268
252
251
252
254
256
238
240
246
225
224
232
214
1393 172 366 321
1426 188 310 364
Active Listing Prices

Ocean City The current average and median active listing prices in Ocean City are $368,000 and $290,000 respectively. Relative to the 2011 active listing prices both values are down by 4%, which is a typical variance. Both values are regaining some of the ground that we lose nd during the winter months by being in a 2 home, beach market. Ocean City Active Listing Prices
550
465 460 461 460 460 453 447 436 431
Avg. Price Med. Price
500 450 400 350 300 250
456
426
422
401
398
395
395
392
395
397
388
392
386
385
383
382
386
382
378
377
377
380
381
373
374
189
Ocean Pines The average active listing price in Ocean Pines is currently at $308,000 and the median came in at $249,000. Both values are down by roughly 5% from the 2011 levels. This is a pretty clear sign that Sellers in Ocean Pines are paying attention to the market and pricing their properties accordingly.
Ocean Pines Active Listing Prices

450
357 362 355 354 355
Avg. Price
Med. Price
353
352
352
351
350
348
343
348
349
352
400 350 300 250 200
366
340
337
340
337
342
334
332
334
328
330
335
336
326
326
325
324
322
327
308
368
192
1447
Ocean City MD and Ocean Pines MD Real Estate Market Report Nicholas A. Bobenko, Realtor Direct: 443-614-9179 Email: ocnick55@gmail.com
Sold Listing Volume

Ocean City th 99 properties sold in March, which is the 4 highest volume level in the past 3 years. This represents a 21% increase over the March 2011 volume and certainly a positive sign of things to come. YTD 183 properties have sold which represents a 4% increase over the 2011 volume of 176 properties sold at this point. View Ocean Citys February Sold Listings Ocean City Sold Listing Volume
106 103 99 81 76 65 60 70 49 22 26 16 16 318 260
Med. Price
120
83 82 83 81 80 81 82
100
72 70 72 59
77
70
70
75
77
65
59
60 40 20 0
51
37
53
57
14
15
13
12
12
12
13
15 10 5 0
View Ocean Pines February Sold Listings
Sold Listing Prices

Ocean City
Ocean City Sold Listing Prices

500
386 384 373 368 378 364 364 360 363 379
The average sold price in Ocean City during March was $321,000 and the median came in at $260,000. The average sold price for the year is $308,000, which is a 6% increase over this point in 2011. The YTD median sold price is $266,000, which is a 1.5% increase over the 2011 levels.
Avg. Price Med. Price
450 400 350 300 250 200 150 100
401
356
353
355
341
345
347
329
334
326
322
337
360
12 309 301 292 268 280 374 265

Avg. Price
306
305
288
267
254
254
250
252
245
246
253
300 250 200 150
265
Ocean Pines The average sold price in Ocean Pines for March was $270,000 and the median was $217,000. These prices are on pace with where we were this time last year.
Ocean Pines Sold Listing Prices

400
306
301
301
277
292
276
271
277
294 229 234 197 214 270
350
317
242
225
231
224
220
237
213
215
211
213
243
208
283
304
310
14
Ocean Pines 14 properties sold in Ocean Pines in March, which was on pace with the 2011 levels. YTD in Ocean Pines 43 properties have sold, representing a 10% increase over the 2011 levels.
Ocean Pines Sold Listing Volume

35
25 25 35
40 30
19 18
28
34
27
25
26
25
28
22
22
23
20
19
20
17
16
16
18
25
22
24
36
60
80
70
93
109
Sold Price/Sq. Ft.

Ocean City The average sold price per square foot for Ocean City property in March was $245, which represents a 7% increase over the March 2011 level. The average sold price per square foot for the year thus far is $233, which is on pace with the 2011 average of $235 at this point. Both YTD sold prices and sold price per square foot are either on pace or up slightly from last year, which is certainly a good indication of stabilization. Ocean City Sold Price/Sq. Ft.
350
324 312 305 304 301 303 288 292 288 301 314
281
283
300 250 200 150 100
300
276
268
268
266
263
267
258 263
248
248
261
248
263
241
241
233
236
228
225
125
Absorption Rates
Ocean City
The current absorption rate in Ocean City stands at 19 months, which is down from where we were last year. We saw an uptick this month as many Sellers are listing their properties in anticipation of the coming season. This presents some good opportunities for Buyers to get good values before they get scooped up.
Ocean City Absorption Rates

50 45 40 35 30 25 20 15 10 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 J F M 09 10 11 12
32 33 33 32 31
29 28 28
26 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
Ocean Pines The absorption rate in Ocean Pines currently stands at 9 months, which is down considerably from the 13 months of inventory that we had this time last year. As with OC there has been a slight uptick the past couple of months as Sellers were holding off from listing there properties during the slower winter months.
Ocean Pines Absorption Rates

30 25 20 15 10 5 0 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 09 10 11 J A S O N D J F M 12
23 21 24 24 22 23 20 20 17 16 15 15 16 17 18 18 19 18 17 15 15 14 13 12 13 13 13 13 13 12.5 12 11
122
Ocean Pines The average sold price per square foot for property sold in Ocean Pines during March was $136, which is roughly where we were at this time last year. The YTD sold price per square foot is at $146, which is up slightly from the 2011 YTD value of $143.
Ocean Pines Sold Price/Sq. Ft.

250 230 210 190 170 150 130 110 90 70 50
168
171
184
168
164
162
162
165
167
218
161
156
158
156
152
146
145
145
146
155
142
143
141
140
141
139
139
139
142
162 139 9 9 8 8 136
138
128
134
138
10
224
231
245
Sold to List Price Ratios

Ocean City Property in Ocean City is currently selling at 93% of the asking price at the time of contract. Obviously this is just the average and not the rule. All Sellers are going to be in different positions and some will move more than others. Once properties are identified I am able to call around and see what the potential for price movement may be.
1 0.98 0.96
0.94 0.93 0.93 0.93 0.93 0.93 0.92 0.93 0.93 0.93 0.93 0.95 247 136 259 215 0.91 0.93 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.92 0.91 0.91 0.91 0.91 0.91 0.91 0.93 0.93
Ocean City Sold to List Price Ratio
0.94 0.92
0.89 0.87 0.89
0.94
0.9 0.88 0.86 0.84 0.82 0.8

0.86
0.89
0.89
0.88
0.88
0.89
0.87
0.86
0.86
0.85
0.85
0.84
0.84 0.82 0.8
Average Days on Market

Ocean City Ocean City properties that sold in March averaged 259 days on the market. This is an average and not the rule as I have seen well priced properties hitting the market over the past few months and selling within a few days for close to asking price. There are plenty of overpriced properties out there that sit on the market and when they eventually get the price right and sell it drives this average up. Ocean City Avg. Days on Market
500 450 400 350 300 250 200 150 100 50 0
401 394 344 381 393 326 328 308
0.84
301
0.85
0.86
297
0.86
0.87
0.88
0.88
Ocean Pines Property in Ocean Pines is currently selling at 93% of the listing price as well. This average has remained in this range for some time now after drastically improving from the previous years levels.
1 0.98 0.96
Ocean Pines Sold to List Price Ratio

0.96 0.95 0.95
0.9
0.94
0.94
0.94
0.93
0.93
0.93 242
0.91
0.91
0.9
0.91
0.92 0.9
0.92
0.9
283
296
280
269
268
242
250
251
282 305
240
225
236
219
224
213
211
205
178
184
206
219
Ocean Pines Average days on market for Ocean Pines properties that sold in March was 215. As you will see this value tends to run up in the Spring as most of the properties selling sat on the market through the Winter during our slowest time of the year.
Ocean Pines Avg. Days on Market

277 236
226
228
213
215
203
202
221
166
163
178
186
160
250 200 150 100 50 0
148
144
158
138
190
126
127
136
126
137
73
47
113
121
126
138
223
300
242
245
269
350
177
225
241
0.93
0.94
0.935
0.94
0.92
Under Contract Listing Volume

Ocean City 109 properties went under contract during March, which is certainly a positive sign of th things to come. This was the 4 highest month in the past 3 years. This a trend that appears will continue as 44 properties are already st under contract through the 1 12 days of April. Ocean City Under Contract Listing Volume
109 111 103 94 95 92 92 94 101 103 71 71 77 57 47 69 20 19 326 334 237 14 379 330 339 351 380 18 264 324 239 326 249 262 310 32 27 281 266 312 22 207 243 30
120
86 79
104
88
86
83
84
79
73
79
72
80
44
67
60 40 20
View Ocean City February Pending Listings Ocean Pines 32 properties went under contract in Ocean rd Pines during March, which is the 3 highest month in the past 3 years. As with Ocean City it appears that this trend will also continue as 17 properties are already under contract in st Ocean Pines through the 1 2 weeks of November. View Ocean Pines February Pending Listings
0 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 J F M 09 10 11 12
55
Ocean Pines Under Contract Listing Volume

50 45 40 35 30 25 20 15 10 5 0
57
69
82
100
88
35
92
31
28
26
25
24
27
29
23
22
19
19
21
22
17
17
13
12
11
11
12
15
16
Under Contract Listing Prices

Ocean City
The average and median prices of properties that went under contract in March were $326,000 and $270,000 respectively. These are both up slightly from where we were this time last year and the average has stayed in st this range through the 1 part of 2012.
Ocean City Under Contract Listing Prices

600 550 500 450 400 350 300 250 200 150 100
494 472 454 459 421 440 413 404 406 418
402
395
381
382
377
396
373
357
350
363
340
375
327
314
17
Ocean Pines The average price of properties that went under contract in Ocean Pines during March was $239,000 and the median came in at $199,000. A large mix of property types, sizes and price ranges have sold through the first part of 2012 which has caused this value to be a bit erratic.
345
400
315 312 316 298
291
279
266
266
276
282
350
249 239
306
307
323
369
Ocean Pines Under Contract Listing Prices
310
23
30
252
252
249
253
242
234
233
250 200 150 100
232
242
300
255
257
264
34
109
New Listing Volume

Ocean City 183 new properties came on the market in Ocean City in April. This is on pace with last year and down considerably from 2010 and 2009. As you will see what get the largest amount of new inventory this time of year, which provides good opportunities for Buyers before it gets picked through. View Ocean Citys February New Listings Ocean City New Listing Volume
300
221 267 215 235 208
195
185
183
188
193
250 200 150 100 50 0
182
174
171
178
166
163
165
170
160
156
151
151
156 136
147
146
137
121
126
142
75
94
Ocean Pines 48 new properties were listed in Ocean Pines in March. This is down slightly from March of last year and good for the Ocean Pines market. The Ocean Pines market has been picked through for the better values and the active inventory is down considerably. As with Ocean City the next couple of months provide the largest amount of new opportunities for Buyers. View Ocean Pines February New Listings
Ocean Pines New Listing Volume

80
59 57
70
49 48
49
46
43
37
37
36
36
35
37
40
50 40 30 20 10 0
42
43
42
46
35
33
29
28
33
24
23
24
21
22
16
18
M A J J J A S O N D J F M A J J J A S O N D J F M A M J J A S O N D J F M 09 10 11 12
New Listing Prices

Ocean City The average and median new listing prices in Ocean City for March were $345,000 and $257,000 respectively. The median is trending down slightly and is a good indicator that Sellers are pricing their properties according to current market conditions and provide the potential for strong values. Ocean City New Listing Prices
600 550 500 450 400 350 300 250 200 150 100
442 468 441 501 423 410 413
392
398
400
388
387
383
379
381
387
388
374
362
365
362
369
356
359
372
354
377
13
26 354 273
345
349
350
34 341 305 283 288 335 325 218 257 345
Ocean Pines The average and median new listing prices in Ocean Pines during March were $257,000 and $230,000. This thing is all over the place as always. The large spikes are caused when the higher priced, large direct bay front homes hit the market. In months when those properties arent listed this value comes down.
375
365
369
344
345
329
332
333
319
324
400 350 300 250 200 150 100 50
352
315
315
319
307
304
305
303
293
291
314
355
358
370
Ocean Pines New Listing Prices

277 267 288 264
337
341
229
264
291
48
60
53
55
52
67
151
158
183

Active Listing Volume: Visit Our Blog

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Ocean City MD and Ocean Pines MD Real Estate Market Report Nicholas A.

Bobenko, Realtor Direct: 443-614-9179 Email: ocnick55@gmail.com

Visit our Blog

Active Listing Volume

2500 2000 1500 1000 500 0

Ocean Pines Active Listing Volume

400 350 300 250 200 150 100 50 0

1393 172 366 321

1426 188 310 364

Active Listing Prices

500 450 400 350 300 250

Ocean Pines Active Listing Prices

400 350 300 250 200

Sold Listing Volume

View Ocean Pines February Sold Listings

Sold Listing Prices

Ocean City Sold Listing Prices

Avg. Price Med. Price

450 400 350 300 250 200 150 100

12 309 301 292 268 280 374 265

300 250 200 150

Ocean Pines Sold Listing Prices

294 229 234 197 214 270

Ocean Pines Sold Listing Volume

Sold Price/Sq. Ft.

300 250 200 150 100

Ocean City Absorption Rates

Ocean Pines Absorption Rates

Ocean Pines Sold Price/Sq. Ft.

162 139 9 9 8 8 136

Sold to List Price Ratios

Ocean City Sold to List Price Ratio

0.9 0.88 0.86 0.84 0.82 0.8

0.84 0.82 0.8

Average Days on Market

Ocean Pines Sold to List Price Ratio

Ocean Pines Avg. Days on Market

250 200 150 100 50 0

Under Contract Listing Volume

Ocean Pines Under Contract Listing Volume

Under Contract Listing Prices

Ocean City Under Contract Listing Prices

Ocean Pines Under Contract Listing Prices

250 200 150 100

New Listing Volume

250 200 150 100 50 0

Ocean Pines New Listing Volume

New Listing Prices

34 341 305 283 288 335 325 218 257 345

400 350 300 250 200 150 100 50

Ocean Pines New Listing Prices

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