Q1 2024 MARKET UPDATE
Southern Maryland
Calvert County | Charles County | Saint Mary's County
the quarter in review
FIRST QUARTER
The first quarter of 2024 gave Southern Maryland a confident launch. In January alone, closed sales climbed modestly while median prices surged nearly 10%, and homes flew off the market in just under four weeks. Inventory remained tight, conserving seller advantage even as demand ticked up. It wasn't a breakaway sprint—it was a grounded start, signaling a market that's steady, responsive, and competitive from the moment it began.
Southern Maryland
Snapshot
This snapshot reflects early-year conditions across Southern Maryland.
$468,919,772
TOTAL SALES VOLUME
1052
TOTAL TRANSACTIONS
2.1
eoy months of inventoRy
15
median days on market
$422,332
median sales price
94.2%
list to sales price ratio
luxury markets
Luxury buyers re-engaged cautiously.
$1,384,120
AVERAGE PRICE IN
Q1
6
SALES IN
Q1
23
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 remained limited early in the year.
$625,838
AVERAGE PRICE IN
Q1
30
SALES IN
Q1
9
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 preparation over speed.
Chesapeake Beach
Chesapeake Beach offers a coastal town atmosphere centered on bay access, walkability, and recreational amenities, appealing to buyers seeking a relaxed waterfront setting within commuting distance.
Leonardtown
Leonardtown blends historic charm with modern growth, offering walkable amenities, cultural activity, and a strong sense of local identity.
North Beach
North Beach is a small, bayfront community known for its boardwalk, local events, and close-knit feel, attracting buyers who value water access and a slower, community-oriented pace.
Town Spotlights
Within the region, certain communities stood out during the quarter based on activity and buyer interest
Looking Ahead
Seasonal activity was expected to build.
More Than Real Estate.
It’s How You Live Here.
Buying or selling a home is just the start.
What matters is understanding the place around it — the market, the lifestyle, the culture, the communities, and the forces shaping what comes next. That’s what we do.
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2077 Somerville Rd
suite 200
Annapolis, MD 21401