Is Annapolis, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$597,000
$300/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Annapolis have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Annapolis was $597,000 in April 2024, up 8.5% from last year, and the median price per square foot was $300.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $300K | $325K | +8.3% |
| 2 Bedrooms | $365K | $422.5K | +15.8% |
| 3 Bedrooms | $532.8K | $539.5K | +1.3% |
| 4 Bedrooms | $701K | $765K | +9.1% |
| 5+ Bedrooms | $919.5K | $1.2M | +34.3% |
Summary: Annapolis housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 15.8%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 34.3%.
Housing Supply in Annapolis, MD
How many homes are available in Annapolis, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 309 | 370 | +19.7% |
Summary: The Annapolis real estate market had 370 homes for sale in April 2024, a 19.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 9 | +12.5% |
| 2 Bedrooms | 92 | 75 | -18.5% |
| 3 Bedrooms | 97 | 122 | +25.8% |
| 4 Bedrooms | 80 | 111 | +38.8% |
| 5+ Bedrooms | 32 | 53 | +65.6% |
Summary: The Annapolis housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes decreased by 18.5%, 3 bedroom homes increased by 25.8%, 4 bedroom homes increased by 38.8%, and 5+ bedroom homes increased by 65.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 108 | 105 | -2.8% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
55 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Annapolis, you could pay more than the asking price. 52.4% of homes here sold above asking price last month.
Summary: A total of 105 homes were sold or pending in Annapolis in April 2024, down by 2.8% month-over-month. Of the 105 sold homes, 28% were sold under asking, 20% were sold at asking, and 52% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 23 Days | 24 Days | +4.3% |
Summary: Homes in Annapolis had an average of 24 days on market in Apr 2024, up by 4.3% compared to last year.
Breakdown of Home Sale Times
88 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
9 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 April 2024, 105 homes were sold in Annapolis; 84% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
