$10,000 Closing Credit*
$1,645,000
4 Beds
•2 Full Baths, 1 Partial
Listing Office: LONG AND FOSTER REAL ESTATE INC-Ocean City, Asbury Ave
Is Ocean City, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Ocean City was a Seller's Market.
Key Takeaway
Ocean City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Ocean City, NJ
How much do homes in Ocean City, NJ cost?
Median Sold Price
$915,800
$692/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$65,816(+7.7%)
Key Takeaway
Homes in Ocean City have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Ocean City was $915,800 in November 2024, up 7.7% from last year, and the median price per square foot was $692.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $329.9K | $349K | +5.8% |
| 2 Bedrooms | $560K | $577.5K | +3.1% |
| 3 Bedrooms | $800K | $875K | +9.4% |
| 4 Bedrooms | $1.2M | $1.2M | +5.2% |
| 5+ Bedrooms | $1.6M | $1.9M | +18.2% |
Summary: Ocean City housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.8%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 18.2%.
Median Sold Price Compared To Nearby Cities
| Ocean City | $849.9K | $915.8K | +7.7% |
| Egg Harbor Township | $335K | $355K | +6.0% |
Housing Supply in Ocean City, NJ
How many homes are available in Ocean City, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 291 | 264 | -9.3% |
Summary: The Ocean City real estate market had 264 homes for sale in November 2024, a 9.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 23 | 20 | -13.0% |
| 2 Bedrooms | 36 | 27 | -25.0% |
| 3 Bedrooms | 71 | 66 | -7.0% |
| 4 Bedrooms | 64 | 66 | +3.1% |
| 5+ Bedrooms | 97 | 85 | -12.4% |
Summary: The Ocean City housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 13%, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 7%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes decreased by 12.4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 61 | 33 | -45.9% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ocean City, you may be able to get a good deal. 69% of homes here sold below asking price last month.
Summary: A total of 33 homes were sold or pending in Ocean City in November 2024, down by 45.9% month-over-month. Of the 29 sold homes, 69% were sold under asking, 14% were sold at asking, and 17% were sold over asking.
Days on Market for Ocean City, NJ
How long does it take to sell a home in Ocean City, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 30 Days | 74 Days | +147.8% |
Summary: Homes in Ocean City had an average of 74 days on market in Nov 2024, up by 147.8% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ocean City are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 33 homes were sold in Ocean City; 42% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved. 
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.