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2024 ANNUAL MARKET REPORT
Greater Annapolis
Anne Arundel County
The Forward
The Greater Annapolis housing market in 2024 was shaped by tight inventory and sustained demand, even as buyers adjusted to higher borrowing costs and a slower pace compared to peak years. Activity remained steady across the region, with pricing supported by limited supply and continued interest in lifestyle-driven locations.
Buyer behavior throughout the year reflected a shift toward greater selectivity rather than withdrawal. Homes that aligned closely with expectations around condition, location, and pricing continued to attract attention, while others required more thoughtful positioning. Overall, 2024 reinforced Greater Annapolis’ ability to maintain stability through changing market conditions.
Greater Annapolis
SNAPSHOT
A high-level view of market activity across the region, highlighting pricing behavior, transaction pace, and demand dynamics over the most recent year.
$2,351,153,448
TOTAL SALES VOLUME
5,005
TOTAL TRANSACTIONS
$434,378
MEDIAN sales price
13
median days on mkt
market composition
Market activity in Greater Annapolis during 2024 was concentrated rather than evenly distributed, with demand favoring specific price points and property types. Buyers engaged most actively where inventory remained constrained and lifestyle appeal was strongest, while other segments experienced a more measured pace.
This composition underscored a market increasingly defined by alignment between offering and expectation. Rather than broad-based competition, outcomes were shaped by how effectively individual properties met buyer priorities, reinforcing the importance of strategic pricing and presentation.
luxury markets
The luxury segment in Greater Annapolis remained a pillar of market stability throughout 2024. High-end buyers continued to transact, though timelines often reflected careful consideration and disciplined decision-making rather than urgency.
Luxury activity was supported by the region’s enduring appeal, particularly for properties offering waterfront access, privacy, and long-term value. While buyers remained selective, the segment demonstrated resilience, reinforcing Greater Annapolis’ position as a destination for premium residential demand.
523
SALES IN
2024
$1,643,170
AVERAGE PRICE IN
2024
13
AVERAGE DOM IN
2024
Luxury homes are defined as properties priced above $1M.
Figures reflect full-year closed sales from the most recent annual reporting period.
waterfront markets
Waterfront properties continued to command significant attention in 2024, operating on a distinct cadence shaped by scarcity and lifestyle value. Buyers approached these opportunities with patience, prioritizing setting, access, and long-term enjoyment over speed of execution.
Although timelines varied, demand remained present for well-located waterfront homes, particularly those aligned with buyer expectations around usability and condition. The segment’s performance reinforced the enduring role of waterfront living as a defining feature of the Greater Annapolis market.
302
SALES IN
2024
$1,553,404
AVERAGE PRICE IN
2024
17
AVERAGE DOM IN
2024
Waterfront homes are defined as properties with direct water access from the property.
Figures reflect full-year closed sales from the most recent annual reporting period.
TOP SALES
THIS YEAR
buyer behavior
A closer look at how buyers are navigating today’s market
Buyer behavior across Greater Annapolis in 2024 reflected a thoughtful and measured approach. Increased sensitivity to pricing and condition guided decision-making, while well-positioned homes continued to transact despite broader market adjustments. This dynamic contributed to a market environment where intention outweighed urgency.
Annapolis
Annapolis delivers a distinctive blend of historic charm, maritime culture, and walkable urban living, attracting residents drawn to water access, dining, and cultural vibrancy.
Arnold
Arnold supports an active, community-focused lifestyle shaped by nearby waterways, parks, and trails, paired with everyday convenience close to downtown Annapolis.
Davidsonville
Davidsonville appeals to buyers seeking space, privacy, and a semi-rural setting, balancing estate-style living with convenient access to Annapolis and regional centers.
Edgewater
Edgewater combines small-town familiarity with waterfront influence, drawing buyers who enjoy marina access, local dining, and proximity to Annapolis without a city pace.
Severna Park
Severna Park is known for its established neighborhoods, strong community identity, and access to multiple waterways, appealing to buyers seeking long-term stability and lifestyle balance.
TOWNS & COMMUNITIES
Town-level activity across Greater Annapolis reflected meaningful differences driven by location, housing mix, and proximity to the water. These local distinctions played an important role in shaping outcomes throughout the year, underscoring the value of community-specific context within the broader regional market.
LOOKING AHEAD
As Greater Annapolis moved toward the next market cycle, conditions remained anchored by limited inventory, sustained lifestyle demand, and buyer selectivity. Understanding how local dynamics intersect with broader trends will continue to be central to navigating opportunities in the region.
More Than Real Estate.
It’s How You Live Here.
Buying or selling a home is just the start.
What matters is understanding the place around it — the market, the lifestyle, the culture, the communities, and the forces shaping what comes next.
That’s what we do.
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2077 Somerville Rd
Annapolis, MD 21401