Q1 2023 MARKET UPDATE
Greater Baltimore
Baltimore City | Baltimore County | Howard County
the quarter in review
FIRST QUARTER
Greater Baltimore began 2023 with measured activity in Q1, as buyers cautiously re-engaged following the holiday season. Market participation reflected early-year selectivity, with attention focused on value and neighborhood context. The quarter set a steady foundation for the months ahead.
Greater Baltimore
Snapshot
This snapshot captures first-quarter activity across Greater Baltimore.
$1,414,544,928
TOTAL SALES VOLUME
4311
TOTAL TRANSACTIONS
2.2
eoy months of inventoRy
16
median days on market
$269,333
median sales price
99.6%
list to sales price ratio
luxury markets
Luxury engagement remained measured.
$1,418,935
AVERAGE PRICE IN
Q1
97
SALES IN
Q1
13
AVERAGE DOM IN
Q1
Luxury homes are defined as properties priced above $1M.
Figures reflect QTD closed sales from the most recent quarterly reporting period.
waterfront markets
Waterfront interest followed winter patterns.
$699,084
AVERAGE PRICE IN
Q1
41
SALES IN
Q1
65
AVERAGE DOM IN
Q1
Waterfront homes are defined as properties with direct water access from the property.
Figures reflect QTD closed sales from the most recent quarterly reporting period.
Top Sales
THIS QUARTER
Buyer Behavior
A closer look at how buyers are navigating today’s market
Buyers emphasized value alignment.
Baltimore City
Baltimore City offers a diverse, neighborhood-driven urban lifestyle shaped by historic architecture, cultural institutions, and waterfront districts, appealing to residents who value walkability, character, and city energy.
Columbia
Columbia is a nationally recognized planned community offering walkable villages, extensive parks and trails, and a strong emphasis on everyday livability, appealing to buyers seeking balance, amenities, and long-term stability.
Ellicott City
Ellicott City is known for its historic downtown, strong community identity, and balance of suburban living with preserved character and green space.
Town Spotlights
Within the region, certain communities stood out during the quarter based on activity and buyer interest
Looking Ahead
Activity would build seasonally.
Local Intelligence. Modern Reach.
Our group brings together local expertise, market interpretation, media strategy, and client guidance across Maryland’s most distinctive communities. Sign-up to receive our newsletters and join the pride.
2077 Somerville Rd
suite 200
Annapolis, MD 21401
