Q1 2024 MARKET UPDATE
Greater Annapolis
Anne Arundel County
the quarter in review
FIRST QUARTER
The first quarter of 2024 carried a clear message: Greater Annapolis was back and moving with momentum. Water-front properties sparkled with 18% more sales, faster turnarounds, and stronger price gains. Overall demand pushed both volume and median price upward, while inventory remained tight. It felt like the market had regained its footing—steady, confident, and ready to build on Q1’s strength. This snapshot sets the tone for what lies ahead, with clarity and energy.
Greater Annapolis
Snapshot
This snapshot captures early-year activity across Greater Annapolis.
$770,020,216
TOTAL SALES VOLUME
1370
TOTAL TRANSACTIONS
1.8
eoy months of inventoRy
11
median days on market
$467,153
median sales price
100.0%
list to sales price ratio
luxury markets
Luxury engagement remained deliberate.
$1,578,560
AVERAGE PRICE IN
Q1
99
SALES IN
Q1
19
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 activity followed seasonal cadence.
$1,407,095
AVERAGE PRICE IN
Q1
71
SALES IN
Q1
21
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 value alignment.
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
Momentum would build with spring demand.
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