Every newspaper you read and television show you turn on talks about how bad real estate is and how much the market is declining in price, sales etc... Well, to much of everyone's suprise Worcester county Maryland, ended the year up in sales on condos!!! Ocean city which handles the bulk of sales in Worcester county is primarily a resort, and second home market. Majority of sales in Ocean City are condos. This is a good sign to see consumers purchasing second homes. Surely the aggresive prices have helped with sales, but the great news is there was a substantial increase in settlements in 2008 vs. 2009!!
There was a total of 822 condos sold in 2009 vs 675 in 2008!! This was a gain of 21.8%. Hopefully this trend will continue. Another good sign is that in the price range of $500-599,000 sales were up from 57 in 2008 to 84 in 2009, and $700-799,000 up from 16 in 2008 to 30 in 2009,showing the buyer demographic is not just concentrated in lower price ranges. The eastern shore as a whole is still showing strong sales, and it certainly is a great time to buy!!! Here are the numbers below:
Residential Market Report
New This Month Total Actives
Price Range 2009 2008 % Change 2009 2008 % Change
0 - 149,999 11 10 10.0 75 54 38.9
150,000 - 199,999 8 12 -33.3 194 154 26.0
200,000 - 299,999 36 36 0.0 387 415 -6.7
300,000 - 399,999 21 34 -38.2 300 327 -8.3
400,000 - 499,999 9 25 -64.0 226 272 -16.9
500,000 - 599,999 6 8 -25.0 122 142 -14.1
600,000 - 699,999 4 4 0.0 51 67 -23.9
700,000 - 799,999 3 1 200.0 31 49 -36.7
800,000 - 899,999 2 2 0.0 35 33 6.1
900,000 - 999,999 0 0 N/A 15 31 -51.6
1,000,000 - 1,249,999 0 1 -100.0 17 24 -29.2
1,250,000 - 1,499,999 0 1 -100.0 13 32 -59.4
1,500,000 + 0 0 N/A 7 19 -63.2
Totals 100 134 -25.4 1473 1619 -9.0
New This Month Year To Date
Price Range 2009 2008 % Change 2009 2008 % Change
0 - 149,999 4 2 100.0 41 21 95.2
150,000 - 199,999 7 4 75.0 102 74 37.8
200,000 - 299,999 13 11 18.2 209 166 25.9
300,000 - 399,999 10 6 66.7 199 147 35.4
400,000 - 499,999 6 7 -14.3 137 97 41.2
500,000 - 599,999 3 3 0.0 63 59 6.8
600,000 - 699,999 1 2 -50.0 28 34 -17.6
700,000 - 799,999 0 0 N/A 28 20 40.0
800,000 - 899,999 1 0 N/A 7 17 -58.8
900,000 - 999,999 1 1 0.0 6 14 -57.1
1,000,000 - 1,249,999 1 1 0.0 35 14 150.0
1,250,000 - 1,499,999 0 1 -100.0 30 13 130.8
1,500,000 + 1 0 N/A 12 11 9.1
Totals 48 38 26.3 897 687 30.6
New This Month Year To Date
Price Range 2009 2008 % Change 2009 2008 % Change
0 - 149,999 3 0 N/A 47 22 113.6
150,000 - 199,999 5 4 25.0 92 90 2.2
200,000 - 299,999 13 12 8.3 219 168 30.4
300,000 - 399,999 12 9 33.3 170 139 22.3
400,000 - 499,999 8 11 -27.3 114 94 21.3
500,000 - 599,999 3 6 -50.0 82 57 43.9
600,000 - 699,999 2 2 0.0 47 43 9.3
700,000 - 799,999 2 2 0.0 30 16 87.5
800,000 - 899,999 1 1 0.0 8 14 -42.9
900,000 - 999,999 0 0 N/A 4 11 -63.6
1,000,000 - 1,249,999 0 0 N/A 5 5 0.0
1,250,000 - 1,499,999 0 0 N/A 3 5 -40.0
1,500,000 + 0 0 N/A 1 11 -90.9
Totals 49 47 4.3 822 675 21.8
NOTES: Properties not listed through Coastal Association of
REALTORS® are not reflected. The term "sales" represents ratified
purchase contracts. Current year information is preliminary and
subject to revision. Current year-to-date contract information may
not equal the sum of the monthly contract totals reported.
Copyright © 2009 by Coastal Association of REALTORS®
Listings
Contracts
Settlements
HOUSING REPORT
Condominiums
December 2009
For 12/2009 Average Median
Days on Market 378 148
List Price $471,084 $325,000
Sales Price $355,837 $315,000
Sell Price/
