Greater Annapolis
Q1 2025
MARKET REPORT
FIRST QUARTER
MARKET REPORT
The opening quarter of 2025 set a tone of measured reset for Greater Annapolis. At a time when GDP slipped into contraction and consumer sentiment slowed, the market absorbed the shift with grace. Sales and volume softened, pricing eased slightly, and inventory began to edge upward—creating space for clarity. Yet, buyer confidence quietly endured, especially in the $1M–$3M range and among luxury segments, where fast-moving listings and strong LP-to-SP ratios told their own story. It was a transitional quarter—less momentum, more poise—captured here without fuss or fanfare.
INDICATORS
STOCK MARKET (DOW JONES)
CONSUMER CONFIDENCE
MORTGAGE RATE (US 30 YR)
UNEMPLOYMENT RATE
9/30/24
$42,330.15
98.7
6.23%
4.1%
3/31/24
$39,807.37
104.7
6.79%
3.8%
3/31/25
$42,001.76
92.9
6.75%
4.2%
.png)
DATES
3/31/25
9/30/24
3/31/24
GDP
- 0.5%
3.1%
1.3%
Economic Factors
Impact On The Market
The opening quarter of 2025 carried the imprint of national contraction—GDP fell 0.5% and consumer sentiment slipped—but Maryland’s housing markets responded with balance. Sales and volume declined from late 2024 levels, yet median pricing held steady across most regions. Inventory expanded, giving buyers more choice, while days on market lengthened modestly. Luxury homes still commanded strong list-to-sale ratios and quick turnarounds, showing resilience at the top. For many, Q1 felt like a recalibration: fewer deals, but a steadier rhythm, with value preserved even as pace slowed.
For Sellers:
Pricing held, especially in mid-to-luxury homes.
Expanded inventory meant presentation was key to standing out.
Luxury properties still benefited from strong buyer demand.
For Buyers:
More inventory offered better selection and negotiating windows.
Slower pace provided room to be thoughtful in offers.
Opportunities remained strong in the $1M–$3M tier and selective waterfronts.
year over year
Trends For The Quarter
REGIONS
Greater Annapolis
Greater Baltimore
Eastern Shore
Southern Maryland
CLOSED UNITS
1397
3977
318
995
TOTAL
VOLUME
$825,953,329
$1,467,610,229
$205,178,786
$473,297,380
EOM INVENTORY
2.3
2.9
4.3
2.9
CURRENT INVENTORY
941
76.9%
YOY CHANGE
QTD CLOSED VOLUME
$825,953,329
7.3%
YOY CHANGE
QTD CLOSED SALES
1397
2.0%
YOY CHANGE
12-MO AVERAGE SALES PRICE
$592,968
2.1%
YOY CHANGE
Greater Annapolis
AT A GLANCE
.png)
YEAR
CLOSED SALES
CLOSED SALES VOLUME
MEDIAN DAYS ON MARKET
MEDIAN SALES PRICE
INVENTORY
.
Q4 2024
1819
$1,074,948,612
10
$491,833
1.3
.
Q1 2025
1397
$825,953,329
10
$485,362
2.3
.
CHANGE
-23.2%
-23.2%
-6.5%
-1.3%
76.9%
$7,400,000 | Annapolis, MD
3355 HARNESS CREEK 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+
.
Q1 2024
349
356
60
20
9
4
.
Q1 2025
343
386
54
18
12
8
.
CHANGE
-1.7%
8.4%
-10.0%
-10.0%
33.3%
--
$3,250,000 | Annapolis, MD
235 Westwood Rd
$7,400,000 | Annapolis, MD
3355 Harness Creek 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+
.
Q1 2024
315
123
1
1
0
1
.
Q1 2025
288
156
5
1
1
0
.
CHANGE
-8.6%
26.8%
400.0%
--
--
--
$4,625,000 | Annapolis, MD
804 Coachway
$3,320,000 | Annapolis, MD
1490 Downham Market
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+
.
Q1 2024
97
14
3
0
0
0
.
Q1 2025
91
13
1
0
0
0
.
CHANGE
-6.2%
-7.1%
-66.7%
--
--
--
WATERFRONT MARKET
DATA POINT
CLOSED SALES
AVERAGE SALES PRICE
MEDIAN PRICE PER SQFT
LIST TO SALE PRICE RATIO
MEDIAN DAYS ON MARKET
.
Q1 2024
71
$1,407,095
$503.66
95.7%
21
.
Q1 2025
49
$1,843,777
$576.44
94.5%
46
.
CHANGE
-31.0%
31.0%
14.5%
-1.2%
117.2%
LUXURY MARKET
DATA POINT
CLOSED SALES
AVERAGE SALES PRICE
MEDIAN PRICE PER SQFT
LIST TO SALE PRICE RATIO
MEDIAN DAYS ON MARKET
.
Q1 2024
99
$1,578,560
$475.90
97.8%
19
.
Q1 2025
116
$1,733,150
$468.78
97.5%
21
.
CHANGE
17.2%
9.8%
-1.5%
-0.3%
10.3%
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.
