Greater Annapolis
Q2 2025
MARKET REPORT
SECOND QUARTER
MARKET REPORT
The second quarter of 2025 revealed a market of quiet strength and discernment in Greater Annapolis. While the broader economy softened—GDP slipped, consumer sentiment cooled, and mortgage rates eased—the local housing market responded with poise. Sales surged across the board, volume soared, and pricing marched upward, especially in the $1M–$3M tier. Luxury pace stayed brisk, and even as waterfront activity slowed modestly, value held. Inventory rose just enough to temper the frenzy without stripping away leverage. This report captures a nuanced snapshot: confident buyers, resilient sellers, and a community market that knows its worth.
INDICATORS
STOCK MARKET (DOW JONES)
CONSUMER CONFIDENCE
MORTGAGE RATE (US 30 YR)
UNEMPLOYMENT RATE
12/31/24
$42,544.22
104.7
7.04%
4.1%
6/30/24
$39,169.52
100.4
6.62%
4.1%
6/30/25
$44,094.77
93.0
6.75%
4.1%
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DATES
6/30/25
12/31/24
6/30/24
GDP
- 0.5%
2.4%
2.8%
Economic Factors
Impact On The Market
Q2 2025 marked a striking rebound. Nationally, contraction persisted, but easing rates (down to 6.75%) and strong equity markets lifted sentiment. Across Maryland, sales surged, volume soared, and median prices advanced at double-digit clips. Homes sold faster, inventory trimmed, and demand concentrated especially in mid-to-luxury bands.
Waterfront activity moderated slightly in pace, but luxury markets surged, underscoring buyer confidence. Entry-level buyers continued to face supply constraints, but across the board, the quarter was characterized by clarity and conviction. Maryland didn’t just weather national caution—it outpaced it.
For Sellers:
Momentum was strong; well-positioned listings moved quickly.
Luxury and mid-tier homes captured decisive demand.
Slight inventory tightening preserved leverage.
For Buyers:
Sub-$1M bands offered more choice but remained competitive.
Luxury demanded sharp, ready offers.
Waterfront properties showed opportunity as pace eased.
year over year
Trends For The Quarter
REGIONS
Greater Annapolis
Greater Baltimore
Eastern Shore
Southern Maryland
CLOSED UNITS
2047
5622
459
1361
TOTAL
VOLUME
$1,288,397,108
$2,405,032,615
$308,719,208
$672,367,548
EOM INVENTORY
2.1
2.3
4.3
2.7
CURRENT INVENTORY
1,455
-8.7%
YOY CHANGE
QTD CLOSED VOLUME
$1,288,397,108
0.5%
YOY CHANGE
QTD CLOSED SALES
2047
-2.7%
YOY CHANGE
12-MO AVERAGE SALES PRICE
$581,954
2.8%
YOY CHANGE
Greater Annapolis
AT A GLANCE
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YEAR
CLOSED SALES
CLOSED SALES VOLUME
MEDIAN DAYS ON MARKET
MEDIAN SALES PRICE
INVENTORY
.
Q1 2025
1397
$825,953,329
10
$485,362
2.3
.
Q2 2025
2047
$1,288,397,108
12
$552,686
2.1
.
CHANGE
46.5%
56.0%
24.1%
13.9%
-8.7%
$3,517,500 | Annapolis, MD
11 Southgate Ave
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 2024
489
621
94
34
15
15
.
Q2 2025
445
602
112
41
22
14
.
CHANGE
-9.0%
-3.1%
19.1%
20.6%
46.7%
-6.7%
$4,400,000 | Edgewater, MD
29 Homeport Dr
$3,500,000 | Annapolis, MD
1291 Hollywood Ave
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 2024
402
242
2
1
0
1
.
Q2 2025
384
231
5
0
1
1
.
CHANGE
-4.5%
-4.5%
150.0%
-100.0%
--
--
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$3,500,000 | Annapolis, MD
208 Wardour Dr
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$3,595,000 | Pasadena, MD
1320 Tar Cove 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 2024
115
42
2
0
2
0
.
Q2 2025
155
37
0
0
0
0
.
CHANGE
34.8%
-11.9%
-100.0%
--
-100%
--
TOP SALES
THIS QUARTER
WATERFRONT MARKET
DATA POINT
CLOSED SALES
AVERAGE SALES PRICE
MEDIAN PRICE PER SQFT
LIST TO SALE PRICE RATIO
MEDIAN DAYS ON MARKET
.
Q2 2024
91
$1,786,976
$574.90
99.0%
11
.
Q2 2025
94
$1,762,483
$566.58
98.9%
14
.
CHANGE
3.3%
-1.4%
-1.4%
-0.1%
24.2%
LUXURY MARKET
DATA POINT
CLOSED SALES
AVERAGE SALES PRICE
MEDIAN PRICE PER SQFT
LIST TO SALE PRICE RATIO
MEDIAN DAYS ON MARKET
.
Q2 2024
166
$1,748,471
$503.24
100.0%
6
.
Q2 2025
196
$1,716,175
$453.10
100.0%
5
.
CHANGE
18.1%
-1.8%
-10.0%
0.0%
-26.3%
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