Eastern Shore
Q4 2024
MARKET REPORT
FOURTH QUARTER
MARKET REPORT
As the year closed, the Eastern Shore entered a dynamic rhythm. Sales ticked up, volume pushed forward, and pricing resumed its climb. Waterfront and luxury sectors saw remarkable uptake—even as days on market shortened—while high-demand price bands ($500K to $1.5M+) saw the biggest gains. Inventory eased nearly 10%, inviting renewed urgency. In short, it wasn’t a sprint—it was a stride: calculated, confident, and forward-focused.
INDICATORS
STOCK MARKET (DOW JONES)
CONSUMER CONFIDENCE
MORTGAGE RATE (US 30 YR)
UNEMPLOYMENT RATE
6/30/24
$39,169.52
100.4
6.62%
4.1%
12/31/23
$37,689.54
110.7
6.90%
3.7%
12/31/24
$42,544.22
104.7
7.04%
4.1%
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DATES
12/31/24
6/30/24
12/31/23
GDP
2.4%
2.8%
2.5%
Economic Factors
Impact On The Market
The final quarter of 2024 delivered resilience across Maryland. National indicators rebounded—GDP grew 2.4% and confidence strengthened—even as mortgage rates stayed near 7%. Locally, sales volume rebounded modestly, median prices ticked upward, and inventory tightened slightly. The mid-tier ($500K–$1.5M) proved particularly strong, while luxury and waterfront segments showed steady performance with longer timelines. Entry-level affordability remained strained, but the overall tone was one of stability. Q4 didn’t bring explosive growth, but it showcased a disciplined market closing the year on solid footing.
For Sellers:
Mid-tier homes enjoyed consistent, competitive demand.
Luxury remained steady, though buyers moved more selectively.
Tighter inventory kept leverage tilted toward sellers.
For Buyers:
Conditions provided more balance without undermining pricing.
Mid-tier activity required readiness; entry-level remained scarce.
Luxury opportunities emerged where timelines lengthened.
year over year
Trends For The Quarter
REGIONS
Eastern Shore
Greater Baltimore
Greater Annapolis
Southern Maryland
CLOSED UNITS
472
4858
1819
1170
TOTAL
VOLUME
$335,159,041
$1,900,579,553
$1,074,948,612
$555,763,761
EOM INVENTORY
2.9
2.1
1.3
2.3
CURRENT INVENTORY
449
YOY CHANGE
QTD CLOSED VOLUME
$335,159,041
36.4%
YOY CHANGE
QTD CLOSED SALES
472
21.6%
YOY CHANGE
12-MO AVERAGE SALES PRICE
$497,470
8.1%
YOY CHANGE
Eastern Shore
AT A GLANCE
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YEAR
CLOSED SALES
CLOSED SALES VOLUME
MEDIAN DAYS ON MARKET
MEDIAN SALES PRICE
INVENTORY
.
Q3 2024
460
$286,604,768
15
$492,000
3.2
.
Q4 2024
472
$335,159,041
19
$501,763
2.9
.
CHANGE
2.6%
16.9%
28.9%
2.0%
-9.4%
$6,450,000 | Easton, MD
27856 Waverly 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+
.
Q4 2023
153
118
17
5
8
7
.
Q4 2024
178
154
26
17
8
12
.
CHANGE
30.5%
52.9%
240.0%
0.0%
71.4%
0.0%
$5,000,000 | St. Michaels, MD
8941 Bozman Neavitt Rd
$7,850,000 | Easton, MD
8588 Wheatlands 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+
.
Q4 2023
32
17
0
0
0
0
.
Q4 2024
38
12
2
0
0
0
.
CHANGE
18.8%
-29.4%
0.0%
0.0%
0.0%
0.0%
$5,750,000 | OXFORD, MD
5419 Morgans Point Dr
$5,250,000 | Easton, MD
26919 Miles River 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+
.
Q4 2023
4
10
0
0
0
0
.
Q4 2024
4
9
2
0
0
0
.
CHANGE
0.0%
-10.0%
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
.
Q4 2023
59
$1,564,946
$472.15
95.7%
29
.
Q4 2024
83
$1,756,348
$444.91
93.9%
23
.
CHANGE
40.7%
12.2%
-5.8%
-1.9%
-22.7%
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LUXURY MARKET
DATA POINT
CLOSED SALES
AVERAGE SALES PRICE
MEDIAN PRICE PER SQFT
LIST TO SALE PRICE RATIO
MEDIAN DAYS ON MARKET
.
Q4 2023
38
$2,148,907
$561.71
91.6%
33
.
Q4 2024
68
$2,093,806
$474.39
93.3%
31
.
CHANGE
78.9%
-2.6%
-15.5%
1.9%
-6.1%
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