2019 Ocean City Luxury Market in Review

2019 Started off as a buyer’s market with a 0% Sales Ratio for Single Family Luxury Market and 7% Sales Ratio for Attached Luxury Market. While the Attached Luxury Market has remained a 13% Sales Ratio, the Single-Family Home Luxury Market has evolved into a balanced market. A balanced market means there is an equal amount of homes available to the current number of buyers in Worcester County.

For local single-family homes, the year started with the most active price bands of $850,000-$949,999 and $1,450,000-$1,649,999, where 7 homes are for sale. The current price band is $950,000-$1,049,999, where the sales ratio is 100%.

For attached homes, the year started with the most active price band of $515,000-$549,999, where the sales ratio was 30%. The current price band is $800,000-$849,999, where the sales ratio is 67%.

Currently, the median days on the market for single family homes is 72 days, with a median luxury sales price of $965,000. The median days on the market for attached homes is 115 days with a median price of $590,000. The December 2018’s report can be found here for more information.

Worcester County Market Summary | December 2019

Single-Family Luxury Market

• The Worcester County single-family luxury market is a Balanced Market with a 15%
• Sales Ratio.
• Homes sold for a median of 90.43% of list price in November 2019.
• The most active price band is $950,000-$1,049,999, where the sales ratio is 100%.
• The median luxury sales price for single-family homes has increased to $965,000.
• The median days on market for November 2019 was 72 days, up from 37 in October 2019.

Attached Luxury Market

• The Worcester County attached luxury market is a Buyer’s Market with a 13% Sales Ratio.
• Homes sold for a median of 97.26% of list price in November 2019.
• The most active price band is $800,000-$849,999, where the sales ratio is 67%.
• The median luxury sales price for attached homes has decreased to $590,000.
• The median days on market for November 2019 was 115 days, up from 60 in October 2019.

The full report for December 2019 can be found below. For more information about this report and the services I can offer you and your luxury property, please give me a call at 410.430.1575 or email me at mnichols@LuxuryShoreLiving.com.