top of page
MD-Baltimore-Inner Harbor-13.jpg

The Eastern Shore Real Estate Highlights: September 2024 Market Report


The Eastern Shore Real Estate Market July 2024 Market Report

The real estate market across Queen Anne's County, Talbot County, and Kent County continues to capture attention in September 2024 with its captivating trends. This comprehensive market report uncovers the highlights of these vibrant regions, offering key insights into average square footage, pricing, total sales, and more. Join us as we explore the evolving real estate landscape of Maryland's stunning Eastern Shore, where luxury, waterfront living, and historic charm continue to attract buyers from across the region.


Exploring Market Metrics

The luxury market in the Eastern Shore continues to evolve, showing some significant trends in September 2024. The average price for luxury properties rose to $2,335,429, up from $2,090,692 in August 2024, and higher than the $1,885,263 recorded in September 2023. This sustained increase in pricing suggests strong demand for high-end properties, particularly as buyers seek waterfront estates, large-acreage homes, and properties with modern amenities.


However, days on market have continued to rise, reaching 68 days in September 2024, compared to 61 days in August and 34 days in September 2023. This indicates that properties are taking longer to sell, suggesting that while buyers are still willing to pay higher prices, they are taking more time to finalize their decisions.


The total sales volume saw a slight increase, with 14 luxury homes sold in September 2024, compared to 13 in August, but down from the 19 sales recorded in September 2023. This suggests that while demand remains strong, the market is slowing slightly compared to last year’s pace.


The list price to sales price ratio came in at 90.3% in September 2024, slightly up from 88.3% in August, but still lower than the 96.9% seen in September 2023. This indicates that sellers are having to negotiate more on price, giving buyers increased leverage in luxury transactions.

EASTERN SHORE LUXURY
SEPT 2024
august 2024
SEPt 2023

Average Price

$2,335,429

$2,090,692

$1,885,263

Days on Market

68

61

34

Total Sales

14

13

19

List Price To Sales Price

90.3%

88.3%

96.9%

The waterfront market in the Eastern Shore experienced notable shifts in September 2024. The average price for waterfront properties rose to $2,216,857, a significant increase from $1,116,288 in August 2024, and higher than the $1,540,308 recorded in September 2023. This dramatic jump suggests that the most recent sales include high-end waterfront estates, driving up the average price in this segment.


However, days on market remained high, with properties taking an average of 68 days to sell in September, down slightly from 75 days in August, but still longer than the 44 days seen in September 2023. This suggests that while buyers are willing to pay premium prices for desirable waterfront homes, they are taking more time to complete transactions, potentially due to higher price points or increased competition.


The total sales volume saw a significant decrease, with only 14 waterfront homes sold in September 2024, compared to 26 in both August 2024 and September 2023. This reduction in transactions points to a potential slowdown in buyer activity, which could be due to inventory constraints or seasonal factors impacting the waterfront segment.


The list price to sales price ratio dropped to 88.3% in September 2024, down from 90.5% in August and well below the 94.6% seen in September 2023. This reflects increased negotiation power for buyers, as sellers are accepting offers further below the list price than in previous months.

EASTERN SHORE waterfront
SEPT 2024
august 2024
SEPt 2023

Average Price

$2,216,857

$1,116,288

$1,540,308

Days on Market

68

75

44

Total Sales

14

26

26

List Price To Sales Price

88.3%

90.5%

94.6 %


let's look at the average property in each market in SEPT '24
MARKET
BEDS
BATHS
SQUARE FEET
PPSF

EASTERN SHORE LUXURY

4

4

4,432

$559.07

EASTERN SHORE WATERFRONT

5

5

4,421

$513.26

 

Top 10 Sold Listings

Curious about the top 10 properties that created a buzz in the real estate market in September? Here are some of the exceptional listings that caught the attention of buyers:



Swipe right to see all of the top 10 sales. Explore these listings here to uncover more details about each sale.



Top 10 New Listings

The excitement doesn't end with the sold properties. Here are the top 10 new listings that made a grand entrance into the real estate arena, poised to capture the attention of eager house hunters:



Don't miss out on the exclusive details of these new listings that have redefined the standard of modern living.


In Conclusion

As we conclude the September 2024 Eastern Shore real estate market report, it's clear that both the luxury and waterfront segments are seeing significant shifts. In the luxury market, we observed rising average prices, reflecting continued demand for high-end properties, even as days on market extend and sales volume slows. Sellers are still benefiting from strong interest, but buyers are becoming more selective, negotiating for lower prices and taking longer to close deals.


The waterfront market experienced a notable increase in average prices, driven by sales of high-value properties, but also saw a sharp decline in total sales and a further drop in the list price to sales price ratio. This suggests that while waterfront properties continue to command premium prices, fewer buyers are actively purchasing, and those who are buying are securing properties at more negotiated prices.


Moving forward, both buyers and sellers should remain mindful of the shifting dynamics in the Eastern Shore market. Sellers may need to adjust pricing strategies to match current buyer expectations, particularly as inventory tightens and negotiations become more common. Buyers, on the other hand, are in a stronger position to negotiate, particularly in the waterfront segment, where the market has shown signs of softening.


The Eastern Shore remains a highly desirable region, known for its luxury estates and scenic waterfront properties, but market participants should be prepared for continued fluctuations as economic and seasonal factors come into play.

Favicon (1)_edited_edited_edited.png
find your haven
Favicon (1).png

CONTACT

INFO@HOUSECATS.CO

410.991.1382

COMPASS REAL ESTATE

2077 SOMERVILLE RD SUITE 200

ANNAPOLIS, MD 21401​

410.429.7425

compass_logo_black_transparent.png

WASHINGTON DC  PRINCE GEORGE'S COUNTY  ANNE ARUNDEL COUNTY  BALTIMORE CITY  QUEEN ANNE'S COUNTY  TALBOT COUNTY HOWARD COUNTY  MONTGOMERY COUNTY  KENT COUNTY  CHARLES COUNTY  SAINT MARYS COUNTY  CALVERT COUNTY

  • Instagram
  • Facebook
  • Twitter
  • LinkedIn
  • YouTube
  • TikTok

COPYRIGHT © 2024. THE HOUSECATS, LLC                                                                                                                                               PRIVACY POLICY    |    TERMS OF USE

bottom of page