Q3 2024 MARKET UPDATE
Southern Maryland
Calvert County | Charles County | Saint Mary's County
the quarter in review
THIRD QUARTER
Q3 2024 offered Southern Maryland a poised pause. After a slower Q1 with reduced nearly 17% in transactions, and as year-end data showed modest price growth (~4%), the mid-year likely settled into a balanced rhythm. Buyers saw a market that wasn’t feverish—but wasn’t cooling either. Inventory remained tight, houses moved steadily, and market energy leaned toward clarity over chaos. This was a quarter of thoughtful recalibration, with value and timing taking the lead.
Southern Maryland
Snapshot
This snapshot captures third-quarter performance across Southern Maryland.
$648,182,321
TOTAL SALES VOLUME
1355
TOTAL TRANSACTIONS
1.9
eoy months of inventoRy
11
median days on market
$440,450
median sales price
98.3%
list to sales price ratio
luxury markets
Luxury engagement reflected practical interest.
$1,181,471
AVERAGE PRICE IN
Q3
10
SALES IN
Q3
15
AVERAGE DOM IN
Q3
Luxury homes are defined as properties priced above $1M.
Figures reflect QTD closed sales from the most recent quarterly reporting period.
waterfront markets
Waterfront participation remained measured.
$725,899
AVERAGE PRICE IN
Q3
55
SALES IN
Q3
17
AVERAGE DOM IN
Q3
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 focused on usability and location.
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
Market direction will remain grounded.
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