Q1 2023 MARKET UPDATE
Greater Annapolis
Anne Arundel County
the quarter in review
FIRST QUARTER
Q1 2023 in Greater Annapolis opened with deliberate buyer engagement, characteristic of the early part of the year. Activity remained present but paced, as buyers evaluated opportunities with longer-term planning in mind. The quarter reflected stable conditions ahead of the spring market.
Greater Annapolis
Snapshot
This snapshot reflects early-year market activity across Greater Annapolis.
$750,495,549
TOTAL SALES VOLUME
1431
TOTAL TRANSACTIONS
1.7
eoy months of inventoRy
11
median days on market
$443,667
median sales price
99.6%
list to sales price ratio
luxury markets
Luxury buyers approached opportunities deliberately.
$1,740,104
AVERAGE PRICE IN
Q1
73
SALES IN
Q1
14
AVERAGE DOM IN
Q1
Luxury homes are defined as properties priced above $1M.
Figures reflect QTD closed sales from the most recent quarterly reporting period.
waterfront markets
Waterfront engagement remained measured.
$1,316,292
AVERAGE PRICE IN
Q1
60
SALES IN
Q1
40
AVERAGE DOM IN
Q1
Waterfront homes are defined as properties with direct water access from the property.
Figures reflect QTD closed sales from the most recent quarterly reporting period.
Top Sales
THIS QUARTER
Buyer Behavior
A closer look at how buyers are navigating today’s market
Buyers focused on long-term planning.
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.
Town Spotlights
Within the region, certain communities stood out during the quarter based on activity and buyer interest
Looking Ahead
Market activity would normalize seasonally.
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
suite 200
Annapolis, MD 21401