» sales price http://oceancitymdrealtyblog.com Wed, 23 May 2012 18:13:07 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Market Stats for 2010 in Ocean City http://oceancitymdrealtyblog.com/market-stats-for-2010-in-ocean-city/ http://oceancitymdrealtyblog.com/market-stats-for-2010-in-ocean-city/#comments Thu, 06 Jan 2011 16:30:49 +0000 Monica McNamara http://oceancitymdrealtyblog.com/?p=1592
The median sales price for homes in Ocean City MD for Sep 10 to Nov 10 was $332,500. This represents an increase of 20.9%, or $57,500, compared to the prior quarter and a decrease of 0.7% compared to the prior year. Sales prices have depreciated 18.7% over the last 5 years in Ocean City. The average listing price for Ocean City homes for sale on Trulia was $392,698 for the week ending Dec 29, which represents an increase of 0.1%, or $229, compared to the prior week and a decline of 0.3%, or $1,288, compared to the week ending Dec 08. Average price per square foot for Ocean City MD was $343, an increase of 53.1% compared to the same period last year.
Ocean City median sales prices
Number of sold homes in Ocean City
Ocean City average property price
Ocean City – number of properties
Ocean City average price per square foot
]]> http://oceancitymdrealtyblog.com/market-stats-for-2010-in-ocean-city/feed/ 0 What's Better Than Average? http://oceancitymdrealtyblog.com/whats-better-than-average/ http://oceancitymdrealtyblog.com/whats-better-than-average/#comments Sat, 04 Jul 2009 17:49:04 +0000 Monica McNamara http://oceancitymdrealtyblog.com/?p=114
8I work with Coldwell Banker Residential Brokerage. They provide excellent current, topical real estate information to their clients and customers. Below is some excerpts from a recent “Market Watch” segment.
 You may hear statistical data that average home sale prices went up in the last two months. Certainly encouraging news to sellers! However, for the last year, average sales prices have been inconsistent from month to month with no real pattern — going up for a month or two and down for two or three months. The more reliable way to determine the market value of a home is detailed below and involves finding accurate comparable home sales in your area.With home prices, the trouble with “average” is it does not give homeowners an accurate picture of the market in their area.  Average home prices are calculated by dividing the number homes sold during a fixed period into the total of all sales prices.  If lower end homes are selling more than higher prices ones, the average would go down, but if higher priced homes are more popular, the average would go up.  Another measure of home prices is the “median” price where half of all homes sold for less and half for more.  As with “average”, the “median” statistic does not give homeowners any idea of the how much the market value of homes has declined or appreciated in their area.

The better method of determining the percentage fluctuations of market prices is to compare similar homes in a specific area over a fixed time period.  For example, if you wanted to know the percentage drop in prices from 2006 to today, research the 2006 sales price of 3-4 homes compared to the recent sales prices of 3-4 similar homes in the same area.  The overall comparison will give a fairly accurate percentage drop of home prices in that area.  Then when homeowners remember what neighbors’ houses sold for in 2006, they can apply that percentage reduction to get an idea of the perception buyers have of value in today’s market.

I would be happy to do the research to analyze the percentage change of home prices in your area and provide a Comparative Market Analysis (CMA).

Please let me know whenever I can be of assistance to you or anyone you know.
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