Fall has arrived, and Ocean City’s housing market remains remarkably strong. Even as mortgage rates hover higher, home prices continue to rise, and inventory stays tight. Whether you own a condo, a single-family home, or are planning your next purchase, understanding these shifts can help you make smarter real-estate decisions.

Home Prices Continue to Climb

The average home price in Ocean City is now about $1.43 million, up 12% from 2024 and more than double the $644,000 average in 2019. That growth isn’t isolated to luxury listings — condos and mid-tier homes have seen steady appreciation thanks to limited supply and continued demand from both local buyers and second-home seekers.

Sales Volume Is Lower, But the Market Is Healthier

Fewer homes are selling, but that doesn’t mean the market is slowing. So far in 2025, 472 properties have sold, compared to 736 during the same period in 2019. This drop in volume reflects a lack of inventory, not a lack of interest. Homes that do hit the market are selling quickly and often close to asking price. It’s a classic case of high demand meeting low supply — and it’s keeping prices firm.

Condos vs. Single-Family Homes

• Single-family homes now average around $2.19 million, up more than 20% year-over-year.
• Condos are averaging $1.12 million, also up over 20%.
• Homes under $1 million typically sell within 30–45 days if priced correctly.
• Luxury listings above $2 million take around 90 days on market, but most still close near asking price.

Condos remain the backbone of local sales volume, while single-family homes lead the way in total value. Together, they show that every segment of the Ocean City market remains active and resilient.

Why Waiting for Lower Interest Rates Might Cost You

Many buyers assume waiting for rates to drop is the smart play — but in a rising market, it rarely works that way. If prices continue climbing, a small rate reduction won’t outweigh the cost of higher home values. You can always refinance when rates ease, but you can’t rewind and buy at yesterday’s prices. The buyers who act now are locking in value, not chasing it later.

The Bottom Line

Ocean City’s housing market remains one of the most stable and desirable along the Jersey Shore. Prices are climbing, inventory is tight, and buyers remain serious.

• If you’re thinking of selling, low supply means your property will stand out.
• If you’re thinking of buying, focus on strategy — timing, financing, and knowing your market.