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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Annapolis is a neutral's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

Annapolis is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Annapolis, MD

How much do homes in Annapolis, MD cost?

Median Sold Price

$599,862

$295/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$54,695(+10.0%)

Key Takeaway

Homes in Annapolis have sold for 10% more than they did a year ago.

Summary: The median home sold price in Annapolis was $599,862 in February 2024, up 10% from last year, and the median price per square foot was $295.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $300K$314K
+4.7%
2 $339.7K$425K
+25.1%
3 $545K$539.5K
-1.0%
4 $690K$760K
+10.1%
5+ $919.5K$1.1M
+27.8%

Summary: Annapolis housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.7%, 2 bedroom homes increased by 25.1%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 27.8%.

Housing Supply in Annapolis, MD

How many homes are available in Annapolis, MD?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
442447+1.1%

Summary: The Annapolis real estate market had 447 homes for sale in February 2024, a 1.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 89
+12.5%
2 111120
+8.1%
3 138132
-4.3%
4 125128
+2.4%
5+ 6058
-3.3%

Summary: The Annapolis housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 8.1%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes decreased by 3.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
8865-26.1%

Asking Price vs. Sold Price

25 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. 38.5% of homes here sold below asking price last month.

Summary: A total of 65 homes were sold or pending in Annapolis in February 2024, down by 26.1% month-over-month. Of the 65 sold homes, 38% were sold under asking, 26% were sold at asking, and 35% 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

Feb 2023Feb 2024CHANGE
45 Days41 Days-8.9%

Summary: Homes in Annapolis had an average of 41 days on market in Feb 2024, down by 8.9% compared to last year.

Breakdown of Home Sale Times

34 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

9 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 February 2024, 65 homes were sold in Annapolis; 52% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 14% 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 18 Days Ago

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