MARKET ACTION REPORT October 2010

Kevin & Monica McNamara

City: Ocean City Associate Broker
410-723-6200
www.Ocean-CitySales.com
www.Facebook.com/OceanCityMdRealEstate
Price Range: All | Properties: Condo - TwnHm
Trending versus*: Trending versus*:
Market Profile & Trends Overview Month LM L3M PYM LY YTD Prior YTD Prior Year
Median List Price of all Current Listings $325,000
Average List Price of all Current Listings $381,363
October Median Sales Price $310,000 $295,000
October Average Sales Price $336,447 $335,617
Total Properties Currently for Sale (Inventory) 1,552
October Number of Properties Sold 79 716
October Average Days on Market (Solds) 163 201
October Month's Supply of Inventory 19.6 24.5
October Sale Price vs List Price Ratio 92.1% 88.0%
* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year (2009) / YTD = Year-to-date | Arrows indicate if Month / YTD values are higher (up), lower (down) or unchanged (flat)

Number of Properties Sold 3 Mo Avg

90
Property Sales 80

84
83

83

82
81

81
80
October Property sales were 79, down 4.8% from 83
79
79

79
78

77

76
70

75

75
75
70

in October of 2009 and 3.9% higher than the 76 sales

69

68
60

64
63

62
61

61
60
last month. October 2010 sales were at a mid level

57

57
50
compared to October of 2009 and 2008. October
49

48

47
40

41
YTD sales of 716 are running 6.9% ahead of last year's
39

39

38
36

30
year-to-date sales of 670.

26
20
10
0
N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O
07 08 09 10

Median Sales Price and Average Sales Price

(000's)
Median means Middle (the same # of properties sold above and below the Median) 3 Mo Avg
Prices 600
The Median Sales Price in October was $310,000, 550
down 4.6% from $325,000 in October of 2009 and 500
up 12.2% from $276,400 last month. The Average 450
Sales Price in October was $336,447, down 8.8% 400
from $369,058 in October of 2009 and down 2.1%
350
from $343,710 last month. October 2010 ASP was at
300
the lowest level compared to October of 2009 and
2008. 250
200
N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O
07 08 09 10

Total Inventory & Month's Supply of Inventory (MSI)

Inventory & MSI MSI is the # of month's needed to sell all of the Inventory at the monthly Sales Pace
2,500 80
The Total Inventory of Properties available for sale as of
October was 1,552, down 1.5% from 1,576 last month and 70
2,268
2,249

2,240
2,190
2,168

2,000
2,113
2,096

2,072
2,049
2,038
2,037

down 11.9% from 1,761 in October of last year. October

2,014

60
1,960

1,854
1,845

1,825

1,825
1,809

2010 Inventory was at its lowest level compared with

1,782

1,767
1,761

1,733
1,724

1,720
1,718

1,715
1,712

50
1,693
1,679

1,661
1,660

1,639

1,500
1,621

1,606
1,576
1,552

October of 2009 and 2008.

40
1,000 30
A comparatively lower MSI is more beneficial for sellers 20
while a higher MSI is better for buyers. The October 2010 500
10
MSI of 19.6 months was at its lowest level compared with
October of 2009 and 2008. 0 0
N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O
07 08 09 10

Copyright © Coldwell Banker Residential Brokerage | Price Range: All | Property Types: Condo - TwnHm
Data is provided courtesy of Metropolitan Regional Information Services Incorporated, The Coastal Association of Realtors MLS and Sussex County of Realtors MLS and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage
the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.
MARKET ACTION REPORT October 2010
Kevin & Monica McNamara
City: Ocean City Associate Broker
410-723-6200
www.Ocean-CitySales.com
www.Facebook.com/OceanCityMdRealEstate
Price Range: All | Properties: Condo - TwnHm

Days On Market for Sold Properties

Market Time 400
Average Days on Market (Listing to Contract) for properties sold during the month 3 Mo Avg
The average Days On Market (DOM) shows how many
days the average Property is on the market before it 350
sells. An upward trend in DOM tends to indicate a move
300 263
towards more of a Buyer's market, a downward trend a
move towards more of a Seller's market. The DOM for 250 206
October was 163, up 13.2% from 144 days last month
and down 38.0% from 263 days in October of last year. 200 163
The October 2010 DOM was at its lowest level compared 150
with October of 2009 and 2008.
100
N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O
07 08 09 10

Selling Price versus Listing Price Ratio

Avg Selling Price divided by Avg Listing Price for sold properties during the month 3 Mo Avg

94% 92.5%
Selling Price vs Original Listing Price 92.1%
The Selling Price vs Original Listing Price reveals the 92%
89.9%
average amount that Sellers are agreeing to come down
90%
from their original list price. The lower the ratio is
below 100% the more of a Buyer's market exists, a ratio 88%
at or above 100% indicates more of a Seller's market.
86%
The October 2010 Selling Price vs Original List Price of
92.1% was up from 91.8% last month and up from 84%
89.9% in October of last year.
82%

80%
N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O
07 08 09 10

Inventory / New Listings / Sales

Inventory / New Listings / Sales 2,500 Inventory New Listings Sales
This last view of the market combines monthly
2,268
2,249

2,240
2,190
2,168

2,000
2,113
2,096

2,072

inventory of Properties for sale along with New Listings

2,049
2,038
2,037
2,014
1,960

1,854
1,845

1,825

1,825
1,809

and Sales. The graph shows the basic annual

1,782

1,767
1,761

1,733
1,724

1,720
1,718

1,715
1,712

1,693
1,679
1,660

1,661
1,500

1,639
1,621

1,606
1,576
1,552
seasonality of the market as well as the relationship
between these items. The number of New Listings in
1,000
October 2010 was 155, down 4.9% from 163 last month
and down 52.5% from 326 in October of last year.
500

0
N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O
07 08 09 10
Copyright © Coldwell Banker Residential Brokerage | Price Range: All | Property Types: Condo - TwnHm
Data is provided courtesy of Metropolitan Regional Information Services Incorporated, The Coastal Association of Realtors MLS and Sussex County of Realtors MLS and may not reflect all relevant real estate activity. Coldwell Banker
the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.
Inventory / Listings / Sales October 2010
Kevin & Monica McNamara
City: Ocean City Associate Broker
410-723-6200
www.Ocean-CitySales.com
www.Facebook.com/OceanCityMdRealEstate
Price Range: All | Properties: Condo - TwnHm

Inventory / New Listings / Sales

This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic
annual seasonality of the market as well as the relationship between these items. The number of New Listings in October 2010 was 155, down
4.9% from 163 last month and down 52.5% from 326 in October of last year.

2,500 Inventory New Listings Sales

2,268
2,249

2,240
2,190
2,168

2,113
2,096

2,072

2,000
2,049
2,038
2,037
2,014
1,960

1,854
1,845

1,825

1,825
1,809

1,782

1,767
1,761

1,733
1,724

1,720
1,718

1,715
1,712

1,693
1,679

1,661
1,660

1,639
1,621

1,606
1,576
1,500

1,552
1,000

500

326
267

237
226

220

216
208

205
199
195
161

181

133

169

178

188

117

133

176

155

156

157

134

142

176

157

105

149

143

177

142

160

141

163

155
70
92
49

36

39

78

79

79

69

48

60

63

57

39

47

26

41

80

64

68

75

83

75

75

83

61

62

38

57

81

77

82

81

84

61

76

79
0
N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O
07 08 09 10

Copyright © Coldwell Banker Residential Brokerage | Price Range: All | Property Types: Condo - TwnHm
Data is provided courtesy of Metropolitan Regional Information Services Incorporated, The Coastal Association of Realtors MLS and Sussex County of Realtors MLS and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage
the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.