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SOUTHERN MARYLAND

MARKET REPORt

CHARLES COUNTY, CALVERT COUNTY, SAINT MARYS COUNTY

FOREWARD

This report provides a comprehensive analysis of the Southern Maryland real estate market, encompassing Charles, Calvert, and St. Mary's Counties, for the year 2024. The data reveals a market characterized by steady growth and stability, offering valuable insights for buyers, sellers, investors, and other stakeholders interested in this dynamic region.

In 2024, the Southern Maryland market demonstrated healthy activity, with total sales volume reaching $2,345,116,239. This represents a positive increase of 3.88% compared to the prior year's $2,257,458,200, indicating continued investment and confidence in the region's real estate. This increase in sales volume underscores the market’s resilience and its ability to attract buyers and sellers.

Accompanying this growth in sales volume was a consistent rise in average sales prices. The average price in Southern Maryland climbed to $469,775, reflecting a 4.71% increase from the previous year's $448,624. This steady price appreciation suggests a balanced market dynamic, with demand supporting upward pressure on prices without experiencing excessive fluctuations. While the number of transactions saw a slight decrease of 0.81%, dropping from 5,033 to 4,992, this minor dip, coupled with the increased sales volume, indicates that higher-priced properties are contributing more significantly to the overall market value.

This report also examines market activity at the local level, highlighting top-performing towns within the region. By number of units sold, Waldorf led the way with 1,015 transactions, showcasing its significant role in the Southern Maryland market. Waldorf also led in total sales volume with $451,913,700. This localized data provides a more granular understanding of market dynamics within specific communities.

This report delves into these trends and other crucial market indicators, offering a detailed overview of the Southern Maryland real estate landscape in 2024. The insights presented herein aim to provide a valuable resource for navigating this diverse and evolving market.

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Total Sales Volume

$2,345,116,239
+ 3.88%
prior year
$2,257,458,200

Average Sales Price

$469,775
+ 4.71%
prior year
$448,624

Number of Transactions

4,992
- 0.81%
prior year
5,033

Average Days On Market

27
- 3.87%
prior year
28
The Big Picture

lets take a look at a breakdown of the full market segment

what & how

lets take a look at what and how people are buying in all market segments

SOUTHERN MARYLAND
BEDROOM BREAKDOWN
0-2 Bedrooms

335

$293,849

99.0%

UNITS

AVERAGE PRICE

LIST TO SALES PRICE

3 Bedrooms

2,138

$393,382

99.8%

UNITS

AVERAGE PRICE

LIST TO SALES PRICE

4+ Bedrooms

2,519

$558,010

100.0%

UNITS

AVERAGE PRICE

LIST TO SALES PRICE

SOUTHERN MARYLAND
TYPE BREAKDOWN
single families

3,840

$502,033

100.0 %

UNITS

AVERAGE PRICE

LIST TO SALES PRICE

townhouses

1,033

$369,184

99.8 %

UNITS

AVERAGE PRICE

LIST TO SALES PRICE

condos

79

$290,326

99.2 %

UNITS

AVERAGE PRICE

LIST TO SALES PRICE

FINANCING BREAKDOWN
conventional

1,915

va

1,217

cash

483

FHA

1,149

private

21

usda

108

trade

1

owner financed

1

other

88

location data

lets take a look at where people are buying in all market segments

Waldorf, MD
Top Units By Town

Waldorf
La Plata
White Plains
Lusby
California
Lexington Park
Mechanicsville
Leonardtown
Huntingtown
Prince Frederick

1,015
437
320
296
291
253
231
204
169
160

#1
#2
#3
#4
#5
#6
#7
#8
#9
#10

Top VOLUME By Town

Waldorf
La Plata
White Plains
California
Leonardtown
Lusby
Mechanicsville
Huntingtown
Lexington Park
Prince Frederick

$451,913,700
$217,446,473
$158,299,496
$115,150,626
$112,820,281
$112,647,003
$105,608,778
$104,033,890
$91,901,505
$75,678,521

#1
#2
#3
#4
#5
#6
#7
#8
#9
#10

hot spots

lets take a look at where people want to be the most

SOUTHERN MARYLAND
BY NUMBER OF SALES

Chesapeake Ranch Estates (Lusby, MD) - 171
Pinegrove (La Plata, MD) - 115
St Charles (White Plains, MD) - 60
Brentwood (Waldorf, MD) - 47
Wildewood (California, MD) - 47
Pinefield (Waldorf, MD) - 46
Stonehaven (White Plains, MD) - 41
Carrington (Waldorf, MD) - 36
Drum Point (Lusby, MD) - 36
Golden Beach (Mechanicsville, MD) - 33

BY AVERAGE PRICE

Breton Beach (Leonardtown, MD) - $958,353
Patuxent Palisades (Dunkirk, MD) - $908,000
Fairview Farm (Owings, MD) - $816,667
Ferry Landing Woods (Dunkirk, MD) - $808,192
Ridge Grove Estates (Hughesville, MD) - $799,167
Owen Soper Estates (Chesapeake Beach, MD) - $787,967
St Leonard Shores (Saint Leonard, MD) - $782,500
Broyhill (Hollywood, MD) - $775,340
Keswick (Hughesville, MD) - $755,126
Heritage Woods (Chesapeake Beach, MD) - $755,000

takeaways
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The Southern Maryland real estate market in 2024 demonstrates a pattern of moderate but consistent growth, reflecting a healthy and stable environment. The increase in total sales volume by 3.88%, reaching over $2.3 billion, signifies continued investment and buyer interest in the region. This growth is complemented by steady price appreciation, with the average sales price rising by 4.71% to $469,775. This balanced price growth suggests a healthy equilibrium between supply and demand, avoiding the volatility seen in some rapidly appreciating markets. While the number of transactions experienced a slight dip of 0.81%, the increased sales volume coupled with a decrease in average days on market (from 28 to 27) indicates that higher-priced homes are contributing more significantly to the overall market value and that properties continue to sell relatively quickly, pointing to ongoing buyer competition.

A closer look at specific communities reveals further insights into market dynamics. Chesapeake Ranch Estates, Pinegrove, and St. Charles lead in sales volume, demonstrating strong demand within these areas. Conversely, Breton Beach, Patuxent Palisades, and Fairview Farm command the highest average prices, highlighting their status as affluent communities with desirable properties. This diversity in performance across different communities underscores the importance of considering local factors when analyzing the Southern Maryland market. The data suggests that while the overall market is healthy, specific areas may experience varying levels of demand and price appreciation.

Looking ahead, the Southern Maryland market is projected to maintain its trajectory of steady growth, with continued price appreciation and healthy sales activity. The moderate growth rate suggests a stable market, less prone to sudden booms or busts. However, it's crucial to monitor external factors such as interest rates, evolving economic conditions, and local development projects, as these can influence the long-term health and direction of the market. By staying attuned to these dynamics and local trends, buyers, sellers, and investors can effectively navigate the opportunities and challenges within this evolving real estate landscape.

Average Sales Price

$1,248,430
- 3.86%
prior year
$1,298,603

Average List To Sales Price

96.7%
- 1.5%
prior year
98.2%

Number of Transactions

prior year
65
+ 25%
52

Average Days On Market

39
+ 18.18%
prior year
33

THE LUX SPACE

lets take a look at the million dollar markets

WHAT SOLD THIS year

THE TOP 10 SALES

get graphic

lets take a look at the data in the million dollar markets