Q4 2023 MARKET UPDATE
Southern Maryland
Calvert County | Charles County | Saint Mary's County
the quarter in review
FOURTH QUARTER
Market activity across Southern Maryland in Q4 2023 reflected a seasonal slowdown typical of the year’s end, with buyers approaching opportunities more deliberately. Engagement remained steady for well-positioned homes, particularly those offering space and accessibility, while other listings required additional time as decision-making extended into the winter months. Overall, the quarter closed with consistent participation rather than urgency, reinforcing a measured market tone heading into the new year.
Southern Maryland
Snapshot
This snapshot reflects year-end conditions across Southern Maryland.
$539,291,736
TOTAL SALES VOLUME
1175
TOTAL TRANSACTIONS
2
eoy months of inventoRy
14
median days on market
$425,110
median sales price
98.0%
list to sales price ratio
luxury markets
Luxury demand remained practical.
$1,318,007
AVERAGE PRICE IN
Q4
17
SALES IN
Q4
9
AVERAGE DOM IN
Q4
Luxury homes are defined as properties priced above $1M.
Figures reflect QTD closed sales from the most recent quarterly reporting period.
waterfront markets
Waterfront activity reflected patience.
$764,272
AVERAGE PRICE IN
Q4
38
SALES IN
Q4
13
AVERAGE DOM IN
Q4
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 balanced timing and planning.
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
Conditions ahead would depend on demand continuity.
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