Homebuyers are back! After a cold spell through fall, winter and spring, buyers are acting on the positives of lower prices, lower interest rates and higher tax credits. The result? An increase in sales of existing homes/condominiums for the last two months. Savvy sellers who are positioning their prices for the market are the beneficiaries as they go to closing and move onto their next property. Meanwhile, sellers who are holding on to yesteryear price tags are the ones now out in the cold.
Ocean City Residential Market Report
Check out the graph of market conditions in Worcester County, which includes Ocean City, Maryland. You’ll see that our overall inventory has been decreasing as the buying signs are appearing.
You will hear national statistics about what is happening in real estate, but if you are a buyer, seller or a market watcher, remember all real estate is very localized. You have to evaluate each market separately.
As your local Ocean City real estate market expert, I can assist you or anyone you know in analyzing the market and more importantly, provide understanding and insight to guide a buyer or seller to fulfill their real estate needs.
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