Is Ocean View, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Ocean View was a Seller's Market.
Key Takeaway
Ocean View is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Ocean View, DE
How much do homes in Ocean View, DE cost?
Median Sold Price
$502,497
$259/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Ocean View have sold for 2.4% less than they did a year ago.
Summary: The median home sold price in Ocean View was $502,497 in April 2024, down 2.4% from last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $239K | - | N/A |
| 2 Bedrooms | $360K | $364.5K | +1.3% |
| 3 Bedrooms | $420K | $442.5K | +5.4% |
| 4 Bedrooms | $619.7K | $599K | -3.3% |
| 5+ Bedrooms | $751.5K | $765K | +1.8% |
Summary: Ocean View housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 5.4%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes increased by 1.8%.
Median Sold Price Compared To Nearby Cities
| Bethany Beach | $877K | $924.7K | +5.4% |
| Selbyville-Frankford | $534.3K | $537.1K | 0.5% |
| Ocean View | $515K | $502.4K | -2.4% |
| Millville | $450K | $430.4K | -4.3% |
Housing Supply in Ocean View, DE
How many homes are available in Ocean View, DE?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 116 | 125 | +7.8% |
Summary: The Ocean View real estate market had 125 homes for sale in April 2024, a 7.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 8 | -33.3% |
| 3 Bedrooms | 59 | 63 | +6.8% |
| 4 Bedrooms | 38 | 42 | +10.5% |
| 5+ Bedrooms | 7 | 12 | +71.4% |
Summary: The Ocean View housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 71.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 19 | -20.8% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ocean View, you may be able to get a good deal. 63.2% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Ocean View in April 2024, down by 20.8% month-over-month. Of the 19 sold homes, 63% were sold under asking, 21% were sold at asking, and 16% were sold over asking.
Days on Market for Ocean View, DE
How long does it take to sell a home in Ocean View, DE?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 72 Days | 81 Days | +12.8% |
Summary: Homes in Ocean View had an average of 81 days on market in Apr 2024, up by 12.8% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ocean View are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 19 homes were sold in Ocean View; 37% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 37% of homes were sold over 90 days.
