Is Ocean View, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Ocean View was a Seller's Market.
Key Takeaway
Ocean View is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Ocean View, DE
How much do homes in Ocean View, DE cost?
Median Sold Price
$496,633
$260/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ocean View have sold for 3.1% less than they did a year ago.
Summary: The median home sold price in Ocean View was $496,633 in May 2024, down 3.1% from last year, and the median price per square foot was $260.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $239K | - | N/A |
| 2 Bedrooms | $358.7K | $364.5K | +1.6% |
| 3 Bedrooms | $443.5K | $435K | -1.9% |
| 4 Bedrooms | $615K | $607.5K | -1.2% |
| 5+ Bedrooms | $751.5K | $767.5K | +2.1% |
Summary: Ocean View housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.6%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 2.1%.
Median Sold Price Compared To Nearby Cities
| Bethany Beach | $890K | $926K | +4.0% |
| Selbyville-Frankford | $529.8K | $539.2K | +1.8% |
| Ocean View | $512.5K | $496.6K | -3.1% |
| Millville | $449.9K | $430.4K | -4.3% |
Housing Supply in Ocean View, DE
How many homes are available in Ocean View, DE?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 125 | 144 | +15.2% |
Summary: The Ocean View real estate market had 144 homes for sale in May 2024, a 15.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 12 | +33.3% |
| 3 Bedrooms | 61 | 67 | +9.8% |
| 4 Bedrooms | 43 | 49 | +14.0% |
| 5+ Bedrooms | 12 | 16 | +33.3% |
Summary: The Ocean View housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 14%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ocean View, you may be able to get a good deal. 76.9% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Ocean View in May 2024, down by 27.8% month-over-month. Of the 13 sold homes, 77% were sold under asking, 0% were sold at asking, and 23% were sold over asking.
Days on Market for Ocean View, DE
How long does it take to sell a home in Ocean View, DE?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 42 Days | 24 Days | -43.0% |
Summary: Homes in Ocean View had an average of 24 days on market in May 2024, down by 43% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Ocean View are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Ocean View; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
