Q4 2023 MARKET UPDATE
Greater Annapolis
Anne Arundel County
the quarter in review
FOURTH QUARTER
Greater Annapolis entered a more measured phase in Q4 2023, consistent with seasonal patterns and evolving buyer expectations. Demand remained active for homes offering strong location and condition, while other listings experienced longer evaluation periods. The quarter highlighted increased selectivity as buyers navigated year-end decisions with a longer-term view.
Greater Annapolis
Snapshot
This snapshot captures fourth-quarter activity across Greater Annapolis.
$895,977,464
TOTAL SALES VOLUME
1596
TOTAL TRANSACTIONS
1.3
eoy months of inventoRy
9
median days on market
$476,455
median sales price
100.0%
list to sales price ratio
luxury markets
Luxury buyers remained present but patient.
$1,608,158
AVERAGE PRICE IN
Q4
99
SALES IN
Q4
12
AVERAGE DOM IN
Q4
Luxury homes are defined as properties priced above $1M.
Figures reflect QTD closed sales from the most recent quarterly reporting period.
waterfront markets
Waterfront homes followed longer timelines.
$1,419,542
AVERAGE PRICE IN
Q4
64
SALES IN
Q4
20
AVERAGE DOM IN
Q4
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 emphasized pricing and fit.
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.
.png)
2077 Somerville Rd
suite 200
Annapolis, MD 21401