How is the Luxury Market?
Low inventory is the biggest influence on the local market this year. Prices continue to increase, with oceanfront properties leading the way. The Million Dollar Market Report focuses exclusively on THE TOP OF THE LOCAL RESIDENTIAL MARKET and includes single family homes, condominiums and townhomes in Ocean City, Maryland and surrounding areas.
Within the past 6 months the market has seen 11 closed sales, 3 pending sales and 34 active properties for sale.
The average listing price is $1,397,000, with the highest listing at $2,790,000. The average sold price is $1,299,900 with the highest sold at $1,665,000. Real Estate price per square foot is determined by various factors such as age, condition and added value. The luxury average listing price square foot is currently $444, and the average sold price per square foot is $433.
The Million Dollar Market Report was prepared for Ocean City, Maryland and surrounding areas. You can view the report in its entirety here.
Thinking of Selling your Luxury Property in Ocean City? Don’t rely on automated home valuation tools to learn the value of your luxury home. Instead, as a “Local” agent and expert in the local market, I provide a custom report for you.
I am a local business woman raising a family on the Eastern Shore. Through both my personal and professional life, I cultivated and developed a long list of friends, vendors and agencies ready and willing to fulfill any of your needs. I personally vetted each contact, ensuring an exceptional level of service. I developed meaningful, long term relationships with quality professionals. You want to do business with people who you know and trust. I cultivated these relationships to further facilitate your process.
Through all stages of buying or selling your property and beyond, I am dedicated to bringing you the best of Ocean City and the surrounding areas. I provide all-inclusive concierge services, assisting you with all your needs. I am steadfastly available to ensure your happiness and satisfaction.
For more information on selling or seeking luxury properties contact me directly at 410.430.1575 or mnichols@LuxuryShoreLiving.com.
Luxury Collection Specialist