The prices in real estate in Ocean City, in the Maryland region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per sq.feet in Ocean City has remained the same in the last 6 months. In December, the average price per sq.feet was $328. In January this price pretty much remained the same at a value of $330 per sq.feet. In the following two months the price per sq.feet has barely changed, going from $329 to $320 per sq.feet. The price per sq.feet has increased 107 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $324.5 to $346.5 during April, and May.
Based upon to the price in Ocean City (cities), this has fallen considerably in the last 6 months. The average price for December is $511,404. During January the price had a considerable reduction till $407,674. During the following two months (February, March) the average price had a considerable reduction of 85 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $424,812.75 and $413,713.5 between April and May.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $426,386 they are 49 % more affordable than the average price for Ocean City. The properties with the highest average price have 4 bedrooms, Their price is 63 % more costly than the average. After that we have properties with 3 bedrooms priced at $483,705.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $316 / sq.feet, with an average $366 / sq.feet price in Ocean City. The properties with the lowest average prices have 2 bedrooms. They are 2 % cheaper than the average followed by properties with 1 bedroom with a price at $345 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $426,386 it is 15 % cheaper than the average price in Ocean City. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of $423,698 it is 22 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $298 / sq.feet followed by "House" priced at $310 / sq.feet. "Condo" is the cheapest type of property with a $365 / sq.feet value followed by "Apartment" with an average price of $328 / sq.feet.