Market Update
Coastal Maryland
Q4 2023
Residential Property Snapshot
Single Family Homes | Q4 2023
- Med. Sales Price
- $481k
- 9% more than in
Q4 2022 - Avg. Days On Market
- 35
- 17% more than in
Q4 2022 - Closed Sales
- 133
- 6% more than in
Q4 2022 - Inventory
- 93
- 5% fewer than in
Q4 2022
Sales Price vs. Closed Sales
Single Family Homes
| Median Close Price | Avg Close Price | Sold Total | |
|---|---|---|---|
| Q4 '19 | $276k | $334k | 392 |
| Q4 '20 | $302k | $344k | 774 |
| Q4 '21 | $393k | $516k | 248 |
| Q4 '22 | $440k | $519k | 125 |
| Q4 '23 | $481k | $638k | 133 |
Closed
New
Inventory
Closed Sales by Price
Single Family Homes
| Closed Under $500k | 51.9% |
|---|---|
| Q4 '23 | 69 |
| Q4 '22 | 78 |
| 1YR CHANGE | -12% |
| Closed $500k - $1m | 36.1% |
| Q4 '23 | 48 |
| Q4 '22 | 40 |
| 1YR CHANGE | +20% |
| Closed $1m - $2m | 9.0% |
| Q4 '23 | 12 |
| Q4 '22 | 6 |
| 1YR CHANGE | +100% |
| Closed Over $2m | 3.0% |
| Q4 '23 | 4 |
| Q4 '22 | 1 |
| 1YR CHANGE | +300% |
Median Sales Price vs. Average Days on Market
Single Family Homes
| Avg Days On Market | Median Close Price | |
|---|---|---|
| Q4 '19 | 92 | $276k |
| Q4 '20 | 43 | $302k |
| Q4 '21 | 31 | $393k |
| Q4 '22 | 30 | $440k |
| Q4 '23 | 35 | $481k |
By Year
By Price
Market Data by Year
Single Family Homes
| Q4 2023
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'22 - '23
Inventory
Inventory represents the number of active properties on the market at the end of the quarter
-5%
New Listings
New Listings represents the number of properties listed during the quarter.
40%
Months Supply of Inventory
Months' supply of inventory refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace.
-13%
Closed Sales
6%
Average Days On Market
Average Days on Market represents the number of days that a property has been listed until a seller has accepted an offer and signed a contract.
17%