Eastern Shore
Q2 2024
MARKET REPORT
SECOND QUARTER
MARKET REPORT
Spring arrived with clarity on the Eastern Shore—market momentum surged forward. Sales and volume climbed sharply, pricing jumped double digits, and listings moved faster than in months past. Waterfront and luxury sectors led the renewed charge, delivering both premium pricing and urgency. Inventory thinned just enough to keep supply tight, yet buyers surged in with purpose and clarity. This quarter wasn’t just active—it was decisive. And this report brings that renewed energy into focus with poise and insight.
INDICATORS
STOCK MARKET (DOW JONES)
CONSUMER CONFIDENCE
MORTGAGE RATE (US 30 YR)
UNEMPLOYMENT RATE
12/31/23
$37,689.54
110.7
6.90%
3.7%
6/30/23
$34,407.60
109.7
6.81%
3.6%
6/30/24
$39,169.52
100.4
6.62%
4.1%
.png)
DATES
6/30/24
12/31/23
6/30/23
GDP
2.8%
2.5%
2.4%
Economic Factors
Impact On The Market
Spring 2024 brought a surge of energy to Maryland’s housing markets. National growth and stable rates fueled decisive action, translating into double-digit gains in sales, volume, and median pricing across regions. Homes moved at record speed—often in a week or less—underscoring strong buyer urgency. Luxury and waterfront markets delivered some of the sharpest growth, both in units and pricing, while mid-tier homes ($1M–$3M) continued to expand their share. Entry-level supply thinned further, challenging affordability. Across the board, Q2 was defined by conviction: buyers acted decisively, and sellers held firm.
For Sellers:
Exceptional conditions favored strong pricing and quick sales.
Luxury and waterfront homes captured premium attention.
Supply constraints created competition across most tiers.
For Buyers:
Urgency and preparedness were key in securing homes.
Competition was fiercest under $1M; mid-tier saw heavy activity.
Waterfront and luxury remained competitive but offered strong long-term value.
year over year
Trends For The Quarter
REGIONS
Eastern Shore
Greater Baltimore
Greater Annapolis
Southern Maryland
CLOSED UNITS
498
5720
2104
1428
TOTAL
VOLUME
$337,709,629
$2,326,118,151
$1,282,227,936
$678,287,594
EOM INVENTORY
3
1.9
1.3
1.9
CURRENT INVENTORY
528
YOY CHANGE
QTD CLOSED VOLUME
$337,709,629
21.6%
YOY CHANGE
QTD CLOSED SALES
498
2.9%
YOY CHANGE
12-MO AVERAGE SALES PRICE
$489,900
13.9%
YOY CHANGE
Eastern Shore
AT A GLANCE
.png)
YEAR
CLOSED SALES
CLOSED SALES VOLUME
MEDIAN DAYS ON MARKET
MEDIAN SALES PRICE
INVENTORY
.
Q1 2024
326
$196,123,994
17
$449,000
3.8
.
Q2 2024
498
$337,709,629
10
$503,922
3
.
CHANGE
52.8%
72.2%
-39.2%
12.2%
-21.1%
$5,000,000 | Easton, MD
27669 Villa Rd
SINGLE FAMILY HOME SALES & INVENTORY BY RANGE
PRICE POINT
UNDER $500,000
$500,000-$999,999
$1,000,000-$1,499,999
$1,500,000-$1,999,999
$2,000,000-$2,999,999
$3,000,000+
.
Q2 2023
225
143
17
8
9
3
.
Q2 2024
241
196
23
16
12
10
.
CHANGE
37.1%
35.3%
100.0%
33.3%
233.3%
0.0%
$4,235,000 | Royal Oak, MD
25927 Goose Neck Rd
$6,700,000 | EASTON, MD
27640 Villa Rd
TOWNHOME SALES & INVENTORY BY RANGE
PRICE POINT
UNDER $500,000
$500,000-$999,999
$1,000,000-$1,499,999
$1,500,000-$1,999,999
$2,000,000-$2,999,999
$3,000,000+
.
Q2 2023
44
13
0
0
0
0
.
Q2 2024
33
16
1
0
0
0
.
CHANGE
-25.0%
23.1%
0.0%
0.0%
0.0%
0.0%
$4,700,000 | ROYAL OAK, MD
24578 Deep Neck Rd
$4,600,000 | Easton, MD
26992 Presquile Rd
CONDO SALES & INVENTORY BY RANGE
PRICE POINT
UNDER $500,000
$500,000-$999,999
$1,000,000-$1,499,999
$1,500,000-$1,999,999
$2,000,000-$2,999,999
$3,000,000+
.
Q2 2023
10
5
0
0
0
0
.
Q2 2024
3
8
0
0
0
0
.
CHANGE
-70.0%
60.0%
0.0%
0.0%
0.0%
0.0%
WATERFRONT MARKET
DATA POINT
CLOSED SALES
AVERAGE SALES PRICE
MEDIAN PRICE PER SQFT
LIST TO SALE PRICE RATIO
MEDIAN DAYS ON MARKET
.
Q2 2023
52
$1,157,040
$387.96
96.5%
16
.
Q2 2024
83
$1,593,448
$490.24
97.9%
13
.
CHANGE
12.2%
26.4%
29.3%
0.3%
8.3%
.jpg)
LUXURY MARKET
DATA POINT
CLOSED SALES
AVERAGE SALES PRICE
MEDIAN PRICE PER SQFT
LIST TO SALE PRICE RATIO
MEDIAN DAYS ON MARKET
.
Q2 2023
25
$1,864,372
$508.03
95.5%
16
.
Q2 2024
61
$2,044,579
$528.37
97.2%
10
.
CHANGE
64.9%
2.8%
10.1%
1.4%
-26.2%
READY WHEN YOU ARE
You don’t have to do life like everyone else
If you’re craving content that feels like a deep breath, a brand that mirrors your evolution, or a space that honors both your ambition and your rest… you’ve found your corner of the internet. Stay awhile. Explore. And if it speaks to you, let’s build something beautiful together.
