A look at the first quarter in the Ocean City real estate market from Ryan Haley of Atlantic Shores Realty.
2015 has been an active year and sales here at the beach are off to a great start. This year the Spring market is beginning and picking up sooner than we have seen in the past. This could be a combination of buyers taking an advantage of low interest and the prices here at the beach. Year to date inventory is down 3.2%, currently we have 1025 condos for sale on the 10 miles of beach here in Ocean City. New contracts written in 2015 is up by 15.9%. In March 117 new contracts were written for properties in Ocean City. This translates into successful settlements. The overall market has seen a 22.4% increase when compared to 2014 numbers. This is most likely due to buyers realizing that the window of opportunity to take advantage of low interest rates and low prices is closing!
If you are looking to buy there is still time before summer and some great inventory to choose from. Capitalize on low interest rates and prices. If you are looking to sell, take advantage of the number of buyers in the marketplace!
As always we are happy to answer any questions you may have and look forward to seeing you soon.
Call the office any time at 410-524-0919 or visit us online!