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Saturday, November 14, 2015

Resort Condo Sales Bouncing Back With Market Improving; Settlements On Condos Up 10% Through October

OCEAN CITY – As the resort feels the largest hotel boom it’s seen in more than a decade, the condominium market is quietly reaffirming its footing in the coastal real estate game.

During the early- to mid-2000’s, condominiums were exploding in popularity. Prices soared and local Realtors made huge chunks of cash, but once the market crashed in 2008, everything came to a screeching halt.

Since then, the market has been slowly recovering, but according to statistics and local experts, it appears to be on the front foot again.


1 comment:

Anonymous said...

The timing is just about right. The first and hardest hit areas (FL/AZ/NV) have been on the uptick for the past three years or so. In some areas even surpassing pre-2008 prices. Combine that with the potential for a change in DC and some wealthy democrats retiring from public service/selling valuable western shore real estate, you might have lower inventories and a sellers market for OC and waterfront estates. Salisbury won't be included, sorry.