Q4 2023 MARKET UPDATE
Greater Baltimore
Baltimore City | Baltimore County | Howard County
the quarter in review
FOURTH QUARTER
The Greater Baltimore market in Q4 2023 transitioned into a quieter seasonal rhythm, as buyers became increasingly selective toward the end of the year. Activity continued across the region’s diverse neighborhoods, though timelines lengthened slightly as purchasers weighed value and location more carefully. The quarter underscored a market defined by intention rather than momentum as year-end approached.
Greater Baltimore
Snapshot
This snapshot captures late-year activity across Greater Baltimore.
$1,659,994,443
TOTAL SALES VOLUME
4504
TOTAL TRANSACTIONS
2
eoy months of inventoRy
12
median days on market
$309,583
median sales price
100.0%
list to sales price ratio
luxury markets
Luxury timelines extended modestly.
$1,412,082
AVERAGE PRICE IN
Q4
123
SALES IN
Q4
10
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 demand remained selective.
$497,085
AVERAGE PRICE IN
Q4
36
SALES IN
Q4
53
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 approached opportunities deliberately.
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
Market momentum would return 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.
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2077 Somerville Rd
suite 200
Annapolis, MD 21401