Is Annapolis, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Annapolis is a seller's market

Buyer's
Market

Difference Since January 2023

At the same time last year, Annapolis was a Buyer's Market.

Key Takeaway

Annapolis is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Annapolis, MD

How much do homes in Annapolis, MD cost?

Median Sold Price

$599,000

$295/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$57,000(+10.5%)

Key Takeaway

Homes in Annapolis have sold for 10.5% more than they did a year ago.

Summary: The median home sold price in Annapolis was $599,000 in January 2024, up 10.5% from last year, and the median price per square foot was $295.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $300K$314K
+4.7%
2 $347.5K$419.3K
+20.7%
3 $525K$539.6K
+2.8%
4 $701K$730K
+4.1%
5+ $905K$1.2M
+32.6%

Summary: Annapolis housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.7%, 2 bedroom homes increased by 20.7%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 32.6%.

Housing Supply in Annapolis, MD

How many homes are available in Annapolis, MD?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
418436+4.3%

Summary: The Annapolis real estate market had 436 homes for sale in January 2024, a 4.3% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 98
-11.1%
2 102109
+6.9%
3 131137
+4.6%
4 122122
0.0%
5+ 5460
+11.1%

Summary: The Annapolis housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 4.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
6278+25.8%

Asking Price vs. Sold Price

38 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

23 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Annapolis, you may be able to get a good deal. 48.7% of homes here sold below asking price last month.

Summary: A total of 78 homes were sold or pending in Annapolis in January 2024, up by 25.8% month-over-month. Of the 78 sold homes, 49% were sold under asking, 22% were sold at asking, and 29% were sold over asking.

Days on Market for Annapolis, MD

How long does it take to sell a home in Annapolis, MD?

Average Sale Time

Jan 2023Jan 2024CHANGE
21 Days32 Days+49.3%

Summary: Homes in Annapolis had an average of 32 days on market in Jan 2024, up by 49.3% compared to last year.

Breakdown of Home Sale Times

47 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Annapolis are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 78 homes were sold in Annapolis; 60% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

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