Home Values

Ocean City Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$473,000

  • -2.1% 1-year change
  • -3.0% 1-year forecast

The median home value in Ocean City is $473,000. Ocean City home values have declined -2.1% over the past year and Zillow predicts they will fall -3.0% within the next year. The median list price per square foot in Ocean City is $390, which is higher than the Ocean City Metro average of $286. The median price of homes currently listed in Ocean City is $509,000 while the median price of homes that sold is $426,929.

Foreclosures will be a factor impacting home values in the next several years. In Ocean City 0.5 homes are foreclosed (per 10,000). This is lower than the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Ocean City is 23.2%, which is higher than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Ocean City homeowners underwater on their mortgage is 6.4%.

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Relative ZHVI
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Ocean City Market Overview

Data through Aug 31, 2014
  • $473,000 ZHVI
  • -3.0% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Aug 31, 2015)
  • $509,000 Median listing price
  • $426,929 Median sale price
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Ocean City Market Health

Data through Aug 31, 2014
  • 3.9/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 6.4% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 23.2% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

0.5 homes Ocean City
4.3 homes United States
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Nearby Cities

Name Median ZHVI
Longport $684,800
Sea Isle City $616,900
Margate City $417,600
Name Median ZHVI
Upper Township $254,400
Ventnor City $245,300
Linwood $241,300
Name Median ZHVI
Northfield $194,000
Egg Harbor Township $193,200
Somers Point $183,600

Listings & Sales

Data through Aug 31, 2014
  • $390 Median list price / sq ft
  • $340 Median sale price / sq ft
  • 37.6% Listings with price cut
24.3%
Sold below listing
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Ocean City Rentals

Data through Aug 31, 2014
  • Zillow Rent Index

  • $1,721 Ocean City
    $1,623 Ocean City Metro
    $1,328 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 10.2 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • No recent data Rent list price / sq ft
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