Ocean City, New Jersey Community and Real Estate Information
Located at the heart of the Jersey Shore in Cape May County, Ocean City is one of the most famous and exciting seashore and boardwalk communities in the United States. Although it may be best known for its visitor and tourist attractions, Ocean City also has a great deal to offer to its permanent residents. Locals enjoy Ocean City's favorable location—20 minutes from Atlantic City, just over an hour from Philadelphia, and only two hours from New York—as well as an outstanding selection of special events and recreational programs. (more)
The boardwalk is the center of this beach community, offering a wide variety of shops, restaurants and amusements. Movie theaters, amusement park rides, miniature golf courses and a water park all provide fun activities for children and families. The boardwalk and music pier are also the location for the town's many annual events including the summer Pops concerts, the Miss New Jersey Pageant, the Easter Parade, the Baby Parade, and the First Night Celebration.
Ocean City offers opportunities to participate in numerous recreational activities. The ocean and bay allow for water sports such as swimming, surfing, sailing and fishing. Ocean City's seven miles of beaches are also home to several annual events such as the Sand Sculpting Contest and Hermit Crab Races. The real estate market in Ocean City features a variety of affordably priced houses, family homes, condos and townhomes, and waterfront properties.
Ocean City, NJ Real Estate Market: Price Range of Ocean City Houses
Ocean City's real estate offerings are diverse. Prices for Ocean City homes vary from the low $110,000s to over $10 million. Smaller inland properties start in the $200,000 range. Many homes for sale in Ocean City fall into the $400,000 to $700,000 range. Luxury waterfront homes and estate properties in Ocean City, NJ can carry a price tag of $1 to $6 million. Condominiums and townhouses in Ocean City are also very popular housing options and are widely available with a large selection in terms of amenities, location and price.
Ocean City, New Jersey Average Home Sizes and Asking Prices
Ocean City Real Estate Stats and Trends for the week of November 16th, 2018: homes priced around $687,642 compared to $709,570 the previous week, showing a decrease of less than -3%. For Friday, November 16th, the current national mortgage rate for a 30 year fixed mortgage is 4.04%; the 15 year fixed rate is at 3.40%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.26%, while the 15 year jumbo rate currently is at 4.32%.