2024 ANNUAL MARKET REPORT

Greater Baltimore

Baltimore City | Baltimore County | Howard County

The Forward

The Greater Baltimore housing market in 2024 was defined by stability amid adjustment, as buyers and sellers recalibrated expectations following the heightened activity of earlier years. Demand remained present across the region’s diverse neighborhoods, though the overall pace moderated as buyers became more deliberate, particularly at higher price points.

Rather than signaling contraction, this shift reflected a market driven by intention and alignment. Homes that balanced value, condition, and location continued to transact, while others required patience and strategic positioning. Over the course of the year, Greater Baltimore demonstrated its capacity to absorb change while maintaining consistent engagement across its varied residential landscape.

Greater Baltimore

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 composition in Greater Baltimore during 2024 reflected broad participation across price points, with activity distributed among urban neighborhoods, historic communities, and suburban settings. Buyers responded most actively where pricing alignment and neighborhood context met expectations, reinforcing the region’s depth and diversity.

While higher-priced segments experienced a more measured tempo, attainable ranges continued to support steady activity. This distribution underscored a market shaped less by uniform momentum and more by localized dynamics, where outcomes varied meaningfully by community and housing profile.

luxury markets

Luxury activity across Greater Baltimore in 2024 remained steady but selective, with buyers taking additional time to evaluate opportunities at the upper end of the market. High-end transactions reflected disciplined decision-making, often influenced by property quality, location, and long-term value rather than urgency.

Well-positioned luxury homes continued to find buyers, reinforcing the segment’s resilience within a diversified regional market. The year highlighted a luxury landscape guided by thoughtful engagement and realistic positioning, rather than rapid turnover.

→ Explore The Luxury Market Report

712

SALES IN

2024

$1,377,752

AVERAGE PRICE IN

2024

8

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 within Greater Baltimore continued to occupy a distinct niche throughout 2024. Buyer interest remained focused on lifestyle value, access, and long-term enjoyment, resulting in transactions that often unfolded over longer timelines.

Market activity emphasized the importance of alignment between offering and expectation, particularly for properties with unique characteristics. Despite varied pacing, waterfront demand remained consistent, supported by limited inventory and the enduring appeal of the region’s shoreline communities.

→ Explore The Waterfront Market Report

179

SALES IN

2024

$613,423

AVERAGE PRICE IN

2024

26

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

$5,250,000

2203 Pine Hill Farms Ln Cockeysville, MD 21030

buyer behavior

A closer look at how buyers are navigating today’s market

Buyer behavior across Greater Baltimore in 2024 reflected a measured and pragmatic approach. Purchasers increasingly weighed value, condition, and neighborhood context, acting decisively when opportunities aligned but avoiding unnecessary urgency. This dynamic contributed to a balanced market environment shaped by intention rather than speculation.

→ Browse All Communities In The Region

Baltimore City

Baltimore City offers a diverse, neighborhood-driven urban lifestyle shaped by historic architecture, cultural institutions, and waterfront districts, appealing to residents who value walkability, character, and city energy.

→ View Market Report

Columbia

Columbia is a nationally recognized planned community offering walkable villages, extensive parks and trails, and a strong emphasis on everyday livability, appealing to buyers seeking balance, amenities, and long-term stability.

→ View Market Report

Ellicott City

Ellicott City is known for its historic downtown, strong community identity, and balance of suburban living with preserved character and green space.

→ View Market Report

Owings Mills

Owings Mills is a growing residential and commercial area offering newer housing options, transit access, and everyday convenience for buyers seeking value and accessibility.

→ View Market Report

Towson

Towson blends suburban convenience with a walkable town center, attracting buyers who value accessibility, local amenities, and proximity to Baltimore City.

→ View Market Report

TOWNS & COMMUNITIES

Town-level performance across Greater Baltimore varied based on neighborhood character, accessibility, and housing mix. These local distinctions played an important role in shaping market outcomes throughout the year, reinforcing the importance of community-specific context.

LOOKING AHEAD

As Greater Baltimore moved forward, market conditions remained anchored by buyer selectivity, neighborhood-driven dynamics, and realistic pricing expectations. Continued engagement is likely to depend on how well properties align with value and location within this diverse regional market.