There is no across the board answer right now. While some units have shown slight increases in value, most in OC are stagnant or even showing modest decreases still. We will need much more than 6 months before we transition from a buyers market to a sellers. There is typically a stagnation period in between. I would anticipate this to be the short term forecast for at least the next year.
I think we will continue to see a very gradual increase in pricing. On level with what we've seen for the past couple of years. The second home market won't make a rapid comeback unless the economy improves substantially.
Having said that, internationally our economies are so very linked. If they sneeze in Europe, we catch a cold in the US. We can't know what will happen globally. As always we remain optimistic!
still in a buyers market, although may be not enough inventory, but also not enough spread out in
size and price range buyers...
Prices may go up a little and we may have more interest and some of the really well priced properties
or low priced properties will get a lot of interest, but the entire market turning into a Sellers market
I cannot see it at this time. But may be agents from Ocean City will have a much better and more area specific insight.
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