January 2007 Sales and Settlement Activity of condos in Coastal Ocean City Maryland 2006 vs 2007 continue a downward trend. Compared to a year ago, 2007 reflects (for the Ocean City Md Condo Market) a decrease in contracts for purchase of – 22 percent! Actual settlements for the Month of January, 2007 Ocean City MD decreased by 43 percent! CLICK HERE FOR THE COMPLETE Document These properties primarily reflect activity for 2nd home rental investments and not primary home activity! Of course over the coming years, the trend will reverse itself and those who desire strictly a 2nd home At The Beach will benefit due to the satisfaction of ownership of a ”home or condo” at the beach. As for property value increasing, no one knows when the trend will reverse but history suggests that property values will again increase in the future. Property market values have been declining in the recent year so wise purchasers are encouraged to find a qualified real estate representative who understands the market conditions and will help educate you in the vagaries of resort real estate. These real estate downturns have of course been experienced on all coastal resort properties in the USA. Historical data indicates that will change again in the coming years. CLICK HERE TO FIND A QUALIFIED REAL ESTATE REPRESENTATIVE to represent you when selling or buying real estate in Ocean City, West Ocean City, Berlin, Ocean Pines, Salisbury MD or coastal Delaware towns and cities of Fenwick Island, Bethany Beach, Dewey Beach, Rehoboth Beach, and Lewes, DE..
