Ocean City Real Estate

Wednesday, February 21, 2007

Welcome to our website! Real estate in Ocean City, Md is starting to rebound! We have been posting sales figures and statistics recently. Now its time for you to tell us what you think. Feel free to respond to our posts with questions or comments. We will answer your questions as quickly as possible.

As for the month of February we are off to a great start. We have had 34 transactions this month in Ocean City alone! Not bad for the middle of winter and comparable to years past. Look for a sharp increase in transactions as the spring approaches and buyers begin to take advantage of prices and selection. Countless times I have heard buyers say I wish we had bought back in 1995 before the big boom in the real estate market. Well, now is your chance to buy before the next big boom and you can be the owner saying I made a great decision and invested back in 2007. Have a great day and visit us more often!

Tuesday, February 06, 2007

"The Ocean City condo market has remained steady since the second quarter of 2006. There are 1,546 units on the market in Ocean City- up by 34% over 2005's totals. Year-to-date the number of contracts written is down by 45% with a 3% absorption rate. Condos are staying on the market a median of 147 days and selling at 94% of their list price. Half of all condos for sale are priced from $200,000 to $399,999.

The Ocean City single-family home market continues to recover. In July, there were 55.4% more single-family homes on the market in Ocean City comparing 2005 to 2006. That was cut to only 22.5% by the end of December. The number of contracts written is down only 7% from 2005. Homes are staying on the merket an average of 88 days- down from a rate of 225 days at the end of the summer. On average, homes are selling at 91% of their list price." - Currents, Winter 2007 Volume II/Issue I

Mark Fritschle Group

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