Q3 2023 MARKET UPDATE
Greater Baltimore
Baltimore City | Baltimore County | Howard County
the quarter in review
THIRD QUARTER
Market conditions across Greater Baltimore in Q3 2023 reflected a late-summer shift toward more deliberate buyer behavior. Activity remained steady, though buyers increasingly focused on value alignment as seasonal momentum moderated. The quarter emphasized thoughtful engagement across neighborhoods rather than broad-based acceleration.
Greater Baltimore
Snapshot
This snapshot reflects late-summer conditions across Greater Baltimore.
$2,055,844,242
TOTAL SALES VOLUME
5306
TOTAL TRANSACTIONS
1.8
eoy months of inventoRy
8
median days on market
$326,999
median sales price
100.0%
list to sales price ratio
luxury markets
Luxury engagement reflected deliberate decision-making.
$1,377,217
AVERAGE PRICE IN
Q3
184
SALES IN
Q3
9
AVERAGE DOM IN
Q3
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 remained selective.
$655,736
AVERAGE PRICE IN
Q3
56
SALES IN
Q3
20
AVERAGE DOM IN
Q3
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.
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
Momentum would depend on buyer confidence.
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