Ocean City, Maryland is a friendly beach resort town, say local Realtors, but the town has more to offer than great game fishing, it also has good buys in real estate.

"The best of The Eastern Shore happens in Ocean City, MD," says Realtor Dennis Hitch. "It's your resort town with the friendly atmosphere and the place to call home. The time is right to buy with interest rates at their lowest."

Agree Realtors Kevin and Monica McNamara, "Ocean City with its 10 miles of clean, sandy beaches and beautiful views, is the premier family resort and golf destination!"

Explain the McNamaras, "Ocean City, also known as the White Marlin capital of the World, is a year-round resort celebrating events and popular attractions. Visit our world famous, three-mile Boardwalk and browse the many shops and sample the foods in the eateries along the way. The game of golf has grown in popularity and Ocean City offers more than 17 challenging 18-hole golf courses designed around rolling bunkers, marshland and water all within a 10 to 20-minute drive from the resort, with more courses on the drawing board.

What's happening in real estate?

"The Maryland real estate market deserves hearty congratulations, along with the Maryland Terrapins," say the McNamaras. "We thought 2001 was a great performer. The first six months of 2002 was even better! Worcester County (which includes: Ocean City, Berlin and Ocean Pines) has had the largest number of individual properties sold... more than anywhere else in the state. Worcester County has also seen an increase in property values up 17 percent from 2001."

Realtor Mary E. Stover says, "Ocean City's condo prices are still rising, but not as rapidly as they were in the Spring. Also condos are staying on the market longer and there is more inventory for sale. There are still multiple offers on very desirable units. As of November 15, 2002, in the local MLS, there are 139 units for sale in the area 'Bayside on the water', prices ranging from $120,900 to $610,000 and 128 pending settlement, prices ranging from $89,900 to $449,900. There are 147 units for sale in the area 'Oceanfront' with prices ranging from $175,000 to $4,400,000 and 58 pending settlement from $95,500 to $1,100,000. On the Bayside there are 123 units available from $87,900 to $378,500. There are 51 units pending settlement on the Bayside ranging from $78,900 to $899,000. On the Oceanside/Oceanview there are 33 units available from $169,900 to $475,000. The condos range from efficiencies to penthouses. Sometimes you may have a better change of negotiating price in the late Fall. If property continues to escalate as it has this past year it would still be a great investment."

Realtor Imad Elali says, "The third quarter of 2002 has been absolutely wonderful, as the real estate market is more active than ever. The value of resort properties is still on the rise. I watch the market updates several times a day and don't see any signs of slowing down or any decrease in the value of resort or primary residence properties on the Eastern Shore of Maryland. We have seen a substantial increase in inventory the past two to three weeks. This increase reached up to 50 percent in some areas."

Click here to view current Market Conditions in your location.

Published: December 3, 2002

Use of this article without permission is a violation of federal copyright laws.