Q1 2024 MARKET UPDATE
Greater Baltimore
Baltimore City | Baltimore County | Howard County
the quarter in review
FIRST QUARTER
Greater Baltimore entered 2024 with poised momentum. Closed unit sales reached 3,949, accompanied by $1.41 billion in volume, even as inventory nudged up to a lean 2.5 months. Median selling price held steady at $301,667, and homes averaged 14 days on market—signaling a market that was both robust and balanced. Q1 wasn't about rapid acceleration—but about resilience, certainty, and readiness for what comes next.
Greater Baltimore
Snapshot
This snapshot captures early-year market activity across Greater Baltimore.
$1,411,154,119
TOTAL SALES VOLUME
3949
TOTAL TRANSACTIONS
2.5
eoy months of inventoRy
14
median days on market
$301,667
median sales price
100.0%
list to sales price ratio
luxury markets
Luxury engagement remained measured.
$1,367,234
AVERAGE PRICE IN
Q1
101
SALES IN
Q1
5
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 interest followed seasonal patterns.
$544,467
AVERAGE PRICE IN
Q1
26
SALES IN
Q1
25
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 emphasized value and timing.
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.
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.
Ellicott City
Ellicott City is known for its historic downtown, strong community identity, and balance of suburban living with preserved character and green space.
Town Spotlights
Within the region, certain communities stood out during the quarter based on activity and buyer interest
Looking Ahead
Seasonal momentum was expected to return.
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