The Quarter in Review
First Quarter
Q1 2023 in Southern Maryland reflected typical early-year conditions, with buyer activity emerging gradually following the winter period. Engagement remained present, particularly among buyers planning ahead for the spring market. The quarter emphasized patience and preparation rather than immediate movement.
Southern Maryland Snapshot
This snapshot reflects early-year conditions across Southern Maryland.
$458,115,011 Total Sales Volume | 1,072 Total Transactions | 2.4 Months of Inventory |
|---|---|---|
20 Median Days on Market | $393,148 Median Sales Price | 99.5% List to Sales Price Ratio |
Luxury Markets
Luxury buyers re-entered cautiously.
7 Sales in Q1 | $1,212,767 Average Price in Q1 | 45 Average DOM in Q1 |
|---|
Luxury homes are defined as properties priced above $1M.
Figures reflect QTD closed sales from the most recent quarterly reporting period.
Waterfront Markets
Waterfront transactions followed extended timelines.
33 Sales in Q1 | $724,524 Average Price in Q1 | 26 Average DOM in Q1 |
|---|
Waterfront homes are defined as properties with direct water access from the property.
Figures reflect QTD closed sales from the most recent quarterly reporting period.
Buyer Behavior
Buyers emphasized preparation.
Town Spotlights
Within the region, certain communities stood out during the quarter based on activity and buyer interest.
Chesapeake Beach
Chesapeake Beach offers a coastal town atmosphere centered on bay access, walkability, and recreational amenities, appealing to buyers seeking a relaxed waterfront setting within commuting distance.
Leonardtown
Leonardtown blends historic charm with modern growth, offering walkable amenities, cultural activity, and a strong sense of local identity.
North Beach
North Beach is a small, bayfront community known for its boardwalk, local events, and close-knit feel, attracting buyers who value water access and a slower, community-oriented pace.
Looking Ahead
Seasonal momentum was expected to return.