Greater Baltimore
Q4 2024
MARKET REPORT
FOURTH QUARTER
MARKET REPORT
The Baltimore market closed 2024 with quiet strength. Overall sales and volume ticked upward from Q3, while pricing edged higher and inventory tightened. Days on market rose modestly, signaling more measured buyer behavior, but demand remained intact across the board. Mid-tier and luxury segments helped carry momentum, while the market as a whole finished the year steady and prepared for transition. Q4 wasn’t about acceleration — it was about resilience, and the results underscore Baltimore’s role as a stable, enduring market.
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
Greater Baltimore
Greater Annapolis
Eastern Shore
Southern Maryland
CLOSED UNITS
4858
1819
472
1170
TOTAL
VOLUME
$1,900,579,553
$1,074,948,612
$335,159,041
$555,763,761
EOM INVENTORY
2.1
1.3
2.9
2.3
CURRENT INVENTORY
3,318
-4.5%
YOY CHANGE
QTD CLOSED VOLUME
$1,900,579,553
14.5%
YOY CHANGE
QTD CLOSED SALES
4858
7.9%
YOY CHANGE
12-MO AVERAGE SALES PRICE
$329,500
1.4%
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
.
Q3 2024
5174
$2,107,146,375
11
$336,500
2.2
.
Q4 2024
4858
$1,900,579,553
14
$335,917
2.1
.
CHANGE
-6.1%
-9.8%
27.3%
-0.2%
-4.5%
$4,200,000 | COCKEYSVILLE, MD
905 Hayfields 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
1047
607
88
14
9
2
.
Q4 2024
1140
688
118
24
11
3
.
CHANGE
8.9%
13.3%
34.1%
71.4%
22.2%
50.0%
$2,075,000 | ELLICOTT CITY, MD
12138 Hayland Farm Way
$2,450,000 | PIKESVILLE, MD
3511 Englemeade 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
2142
198
4
0
0
0
.
Q4 2024
2251
240
4
0
0
0
.
CHANGE
5.1%
21.2%
0.0%
0.0%
0%
0%
$2,200,000 | CLARKSVILLE, MD
5111 Holly Creek Ln
$2,180,000 | REISTERSTOWN, MD
4705 Pleasant Grove 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
347
19
2
0
0
0
.
Q4 2024
316
22
0
0
0
0
.
CHANGE
-8.9%
15.8%
-100.0%
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
36
$497,085
$281.52
91.7%
53
.
Q4 2024
37
$629,456
$325.46
94.9%
37
.
CHANGE
2.8%
26.6%
15.6%
3.6%
-31.3%
LUXURY MARKET
DATA POINT
CLOSED SALES
AVERAGE SALES PRICE
MEDIAN PRICE PER SQFT
LIST TO SALE PRICE RATIO
MEDIAN DAYS ON MARKET
.
Q4 2023
123
$1,412,082
$310.66
99.8%
10
.
Q4 2024
160
$1,396,798
$332.83
100.0%
9
.
CHANGE
30.1%
-1.1%
7.1%
0.2%
-12.9%
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