By Jeff Quintin | The Quintin Group at eXp Realty
Updated November 13, 2026 | Active listings checked November 13; recent-sale sample covers reported 2026 closings.
500 Bay in Ocean City currently has two active listings in our website's MLS feed, asking $724,000 and $749,900. Eight matched 2026 sold records span $540,000 to $925,000 in reported closing prices. For the six two-bedroom sales in that sample, the median is $662,000. That is a starting point for comparison, not a valuation of every two-bedroom unit.
The most important distinction for a buyer is how the property can be used: 500 Bay's association says it is not a rental community. Its appeal should therefore be evaluated primarily as an ownership and personal-use decision, with current governing documents confirming the exact restrictions. A vacation-rental income pitch would miss that fundamental distinction.
500 Bay: what is on the market now?
| Unit | Asking price | Bedrooms / baths | MLS |
|---|---|---|---|
| 500 Bay Ave Unit #405 N, Ocean City | $749,900 | 2 / 2 | 613667 |
| 500 Bay Ave Unit #608 South, Ocean City | $724,000 | 2 / 2 | 613626 |
Both active units are listed with two bedrooms and two baths. Unit 608 South reports approximately 1,364 square feet; a comparable area figure was not supplied for 405 North in the search result. The asking-price gap is $25,900. We would inspect the unit line, outlook, condition, layout and association-cost allocation before deciding which represents the stronger value. Asking prices alone do not establish that gap as a view or renovation premium.
These are the two active records found by the exact Ocean City/500 Bay search. This is not a complete pending-contract report: the connector exposes active and sold searches, and a listing described elsewhere as under contract is not counted as active competition here. Off-market opportunities and delayed status changes may not appear.
Recent 500 Bay sales: what buyers actually paid
| Unit | Reported close timing | Sale price | Bedrooms | Property record |
|---|---|---|---|---|
| 403 South | October 13, 2026 | $540,000 | 1 | MLS 609471 |
| 707 South | Fall 2026 - date reconciliation pending | $925,000 | 3 | MLS 609989 |
| 310 South | Summer 2026 - date reconciliation pending | $789,000 | 2 | MLS 606299 |
| 307 North | June 29, 2026 | $585,000 | 2 | MLS 605595 |
| 510 South | April 21, 2026 | $695,000 | 2 | MLS 604628 |
| 404 South | February 26, 2026 | $639,000 | 2 | MLS 603895 |
| 406 South | January 30, 2026 | $685,000 | 2 | MLS 603590 |
| 607 South | January 30, 2026 | $620,000 | 2 | MLS 596772 |
Prices and reported dates were cross-checked against public MLS-derived sale history and individual property histories, including 403 South, 404 South and 510 South. Sources agree on the $925,000 and $789,000 prices but show different dates for 707 South and 310 South, so exact closing days are deliberately left unresolved. These eight entries match the site's trailing-12-month sold search; unreported transfers and off-MLS sales may be missing.
What the numbers mean for pricing
Two-bedroom sales in this sample ranged from $585,000 to $789,000. Their $662,000 median puts the current asking prices roughly 9% to 13% higher. That comparison does not prove that today's listings are overpriced: a different floor plan, water exposure, renovation or other unit-specific advantage may explain the difference. It does mean a seller needs a clear, documented reason for the premium.
The one-bedroom sale at $540,000 and three-bedroom sale at $925,000 should not set the price for a two-bedroom residence. Even within the two-bedroom group, the spread is $204,000. Bedrooms alone are not a comparable-sale analysis. Our approach is to match the building and unit line, review the view and outdoor space, assess improvements, then compare the actual alternatives a buyer can tour today.
Eight matched sales are not enough to claim a reliable appreciation trend without a consistent prior-period comparison. Nor does two active listings automatically establish a seller's market. We are not publishing a days-on-market average, sale-to-list ratio or months-of-supply figure because the necessary complete, reconciled building dataset is not available in this search.
What makes 500 Bay different?
The association's own description confirms a waterfront boardwalk, a pool beside the bay, at least one reserved parking space per owner and two community rooms available for private events. Those are meaningful conveniences for an owner who wants the bay setting without maintaining a standalone waterfront house.
A bayfront address still does not mean every unit has the same view. Check the actual outlook from inside the residence, balcony or patio dimensions and rights, sun exposure, and the relationship between living space and the water. Confirm parking assignments and storage with the unit documents rather than relying on a building-wide description.
Who is likely to consider a home here?
The data reviewed do not identify the actual purchasers' demographics, hometowns, household makeup or financing. The following are inferred purchase goals, based on the building's setting, features and association description:
- A personal-use second home: an owner seeking time at the shore, a bay setting and shared-building amenities, without depending on weekly vacation rentals.
- A year-round residence, if the intended occupancy is permitted: a buyer who prefers condominium maintenance responsibilities and reserved parking to the upkeep of a detached waterfront house.
- A move to a different type of shore property: an owner trading yard and exterior work for a unit with a particular view, layout and building-service budget.
The fit is defined by use, budget and property preferences. We do not assume a particular age, family status or income level. Buyers whose plan depends on rental revenue should resolve the association's restrictions before spending time on an income projection.
What a 500 Bay seller should do before listing
- Build the right comparable set. Match bedrooms, usable area, exposure, floor, outdoor space and renovation. Explain why a buyer should pay more than the closest closed sale.
- Make the carrying costs easy to evaluate. Have current dues, what they include, assessment notices, insurance information, reserve and capital-project information, and transfer contributions ready.
- Market the actual experience. Show the unit's true water outlook, indoor-outdoor relationship and parking access. A generic exterior picture cannot explain a unit-specific premium.
- Price against today's alternatives. The two active listings provide a current reference, but neither asking price establishes market value. If showings do not become offers, reassess positioning against verified new competition and closing evidence.
What a buyer should review before making an offer
Request the current master deed, bylaws and rules, budget and reserve information, assessment notices, relevant inspection and capital-project reports, and the association insurance summary. Confirm the unit's monthly fee and inclusions, individual insurance obligations, deductibles, parking/storage rights, pet rules, occupancy and rental restrictions, and lender eligibility. An association insurance policy does not eliminate the need to review unit-level coverage and out-of-pocket exposure.
Compare the full annual cost of each candidate, including taxes, dues, insurance, utilities, financing and planned work. Do not assume a renovation recovers its full cost on resale or that all waterfront condos offer the same ownership experience.
500 Bay questions answered
Can I use a 500 Bay condo as a vacation-rental investment?
The association publicly states that it is not a rental community. Obtain the current governing documents and any applicable exceptions before making a purchase dependent on rental use.
What is the current price range?
The two active records checked November 13, 2026 ask $724,000 and $749,900. The matched 2026 closed-sale sample ranges from $540,000 to $925,000 across different bedroom counts.
What is my specific unit worth?
That requires a comparison of your unit line, view, interior condition, layout, size and documented costs with relevant closed sales and current competition. The $662,000 two-bedroom sample median is not a substitute for that review.
Buying or selling at 500 Bay?
Give The Quintin Group your unit number, layout and improvement history. We will help you understand which sales matter, what buyers can choose today, and how to position your property.
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Research and methodology
This is a November 13, 2026 active-inventory snapshot combined with eight matched reported 2026 sales, not an October-only report or a certification of every property transfer. Sold-search price fields in Real Geeks are asking prices and were not used as closing prices. The two-bedroom median was calculated only from the six reported two-bedroom sale prices listed above. Property-record aliases, timing differences and incomplete feeds can affect coverage. Buyer-use profiles are informed interpretation; association features and restrictions are separately sourced. Values, availability, fees and policies can change.