Will Home Prices Increase in Ocean City in the Next 5 Years?
Are you wondering if home prices in Ocean City will increase over the course of the next five years?
Ryan Haley, broker and owner of Atlantic Shores Sotheby’s International Realty, offers his perspective on home values in Ocean City.
Here’s a scenario…
If you purchased a property in Ocean City in January 2022 for a price of $350,000, the experts are predicting that the same home would be worth $439,000 in 2027. That is an overall increase of $89,000 in the family’s net worth.
Imagine if you have actually taken that property and possibly rented it out as a second home or rented it out as a vacation home in the summer. The tenant would have then helped you pay for that property—just imagine that return on investment.
That is why it is wise to NOT wait to buy real estate. Instead, buy real estate and then wait.
Do you have questions about real estate, particularly in the Maryland and Delaware markets? Don’t hesitate to contact us and we’ll be happy to help you out.