Greater Baltimore
Q2 2025
MARKET REPORT
SECOND QUARTER
MARKET REPORT
Momentum returned in the spring. Sales climbed sharply, volume surged, and prices posted meaningful gains — all while homes sold faster and inventory tightened. This general lift reflected renewed urgency from buyers, especially in higher-value tiers, but also reinforced the broader strength of the Baltimore market. Q2 was less about cautious pacing and more about decisive action, as the region demonstrated resilience and confidence against a softer national backdrop.
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 Baltimore
Greater Annapolis
Eastern Shore
Southern Maryland
CLOSED UNITS
5622
2047
459
1361
TOTAL
VOLUME
$2,405,032,615
$1,288,397,108
$308,719,208
$672,367,548
EOM INVENTORY
2.3
2.1
4.3
2.7
CURRENT INVENTORY
4,427
-20.7%
YOY CHANGE
QTD CLOSED VOLUME
$2,405,032,615
3.4%
YOY CHANGE
QTD CLOSED SALES
5622
-1.7%
YOY CHANGE
12-MO AVERAGE SALES PRICE
$339,900
3.0%
YOY CHANGE
Greater Baltimore
AT A GLANCE
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YEAR
CLOSED SALES
CLOSED SALES VOLUME
MEDIAN DAYS ON MARKET
MEDIAN SALES PRICE
INVENTORY
.
Q1 2025
3977
$1,467,610,229
19
$311,333
2.9
.
Q2 2025
5622
$2,405,032,615
10
$355,667
2.3
.
CHANGE
41.4%
63.9%
-48.2%
14.2%
-20.7%
3148 Blendon Rd
$3,400,000 | Owings Mills, MD
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
1240
874
183
36
9
3
.
Q2 2025
1167
244
174
45
22
3
.
CHANGE
-5.9%
-72.1%
-4.9%
25.0%
144.4%
0.0%
$2,500,000 | Kingsville, MD
12012 Hammonds Glen Cir
$2,500,000 | Highland, MD
6555 Paper Pl
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
2536
318
5
0
0
0
.
Q2 2025
2370
389
7
0
0
0
.
CHANGE
-6.5%
22.3%
40.0%
0.0%
0%
0%
$2,915,000 | Ellicott City, MD
12750 Maryvale Ct
$2,700,000 | Monkton, MD
16504 Garfield Ave
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
440
25
0
0
1
1
.
Q2 2025
445
20
1
0
0
0
.
CHANGE
1.1%
-20.0%
0.0%
0%
-100%
-100%
WATERFRONT MARKET
DATA POINT
CLOSED SALES
AVERAGE SALES PRICE
MEDIAN PRICE PER SQFT
LIST TO SALE PRICE RATIO
MEDIAN DAYS ON MARKET
.
Q2 2024
62
$655,384
$288.68
95.4%
17
.
Q2 2025
47
$686,640
$316.96
95.4%
30
.
CHANGE
-24.2%
4.8%
9.8%
0.0%
76.5%
LUXURY MARKET
DATA POINT
CLOSED SALES
AVERAGE SALES PRICE
MEDIAN PRICE PER SQFT
LIST TO SALE PRICE RATIO
MEDIAN DAYS ON MARKET
.
Q2 2024
238
$1,356,657
$331.69
101.5%
5
.
Q2 2025
248
$1,403,073
$332.37
100.1%
7
.
CHANGE
4.2%
3.4%
0.2%
-1.3%
31.3%
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