Even though summer is historically a slower sales season, the sales market in Worcester County was bustling. Most notably, in a study of properties that settled during July and August, we found buyers are paying 95%, or greater, of the asking price! Ocean City real estate sales are stable.
SINGLE FAMILY HOMES SALES – JULY
The buyers of 77 properties located in Worcester County, settled on the purchase of their purchase of a single family home (SFH) between July 1, 2017 and July 31, 2017.
The average price of the homes that were sold was $297,063. while the average number of days listed on the local MLS (multiple listing service), prior to settlement, was 113. The list price of these properties, on average, was $308,349. Especially relevant, this indicates the average buyer paid 96.33% of the seller’s asking price.
SINGLE FAMILY HOMES SALES – AUGUST
Eighty eight (88) SFH (single family homes) sold between August 1, 2017 through August 31, 2017, with 105 days on the MLS. The average sold price of these homes was $284,647. The average list price for the August settlements was $295,964,. These stats shows settled prices of 96.17% of the average asking (or list price) was paid.
TOWNHOUSE AND/OR CONDOMINIUM SALES – JULY
Interestingly, the statistics for townhouse and/or condo properties sold are fairly consistent with the SFH market regarding the ratio of sales to list prices. July 1, 2017-July 31, 2017 one hundred and six (106) town homes and/or condominiums settled . The average days on the MLS was 170 and the average sold price was $285,200. The average list price was $297,282, indicating an average of 95.93% of the sold price.
TOWNHOUSE AND/OR CONDOMINIUM SALES – AUGUST
The month of August in 2017 saw ninety seven (97) townhouse and/or condos settled. These properties were, on average, 143 DOM, and an average sold price of $271,232. That equals 96.42% of the average asking price of $281,297.
SINGLE FAMILY HOMES
Currently there are four hundred and seventeen (417) single family homes are listed for sale in Worcester County with an average list price of $452,379 and an average of 216 DOM.
TOWNHOUSE AND/OR CONDOMINIUMS
At this time there are seven hundred and nine (709) Townhouse and/or condominiums for sale in Worcester County. The average list price for these properties is $351,910 with 231 DOM.
There are fourteen (14) Short sales properties still available in Worcester County with an average asking price of $196,300.
Further, there are 32 foreclosures at an average list price of $227,450.
Please contact your local REALTOR for details on properties for sale, or for assistance listing your property for sale on our multiple listing service.