Is Annapolis, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Annapolis has remained a Seller'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
$585,619
$296/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Annapolis have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Annapolis was $585,619 in March 2024, up 6.5% from last year, and the median price per square foot was $296.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $286K | $325K | +13.6% |
| 2 Bedrooms | $365K | $425K | +16.4% |
| 3 Bedrooms | $550K | $535K | -2.7% |
| 4 Bedrooms | $701.1K | $755K | +7.7% |
| 5+ Bedrooms | $905K | $1.2M | +32.6% |
Summary: Annapolis housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.6%, 2 bedroom homes increased by 16.4%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes increased by 7.7%, 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
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 459 | 484 | +5.4% |
Summary: The Annapolis real estate market had 484 homes for sale in March 2024, a 5.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 12 | +33.3% |
| 2 Bedrooms | 125 | 127 | +1.6% |
| 3 Bedrooms | 137 | 141 | +2.9% |
| 4 Bedrooms | 128 | 142 | +10.9% |
| 5+ Bedrooms | 60 | 62 | +3.3% |
Summary: The Annapolis housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 3.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 72 | 91 | +26.4% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
36 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Annapolis, you could pay more than the asking price. 39.6% of homes here sold above asking price last month.
Summary: A total of 91 homes were sold or pending in Annapolis in March 2024, up by 26.4% month-over-month. Of the 91 sold homes, 32% were sold under asking, 29% were sold at asking, and 40% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 30 Days | 22 Days | -26.8% |
Summary: Homes in Annapolis had an average of 22 days on market in Mar 2024, down by 26.8% compared to last year.
Breakdown of Home Sale Times
71 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Annapolis are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 91 homes were sold in Annapolis; 78% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
