The Quarter in Review
Second Quarter
Southern Maryland sprang into Q2 2024 with renewed energy. Closed sales jumped nearly 36%, volume surged around 45%, and homes flew off the market in just 8 days. Median pricing climbed to $438,488 as inventory tightened to under two months. It wasn’t a market warmed by momentum—it was a market recalibrated through clarity. Buyers leaned in. Sellers held strong. And the region’s rhythm moved with purpose.
Southern Maryland Snapshot
This snapshot captures spring-season market conditions across Southern Maryland.
$678,287,594 Total Sales Volume | 1,428 Total Transactions | 1.9 Months of Inventory |
|---|---|---|
8 Median Days on Market | $438,488 Median Sales Price | 95.8% List to Sales Price Ratio |
Luxury Markets
Luxury demand remained steady.
24 Sales in Q2 | $1,226,117 Average Price in Q2 | 11 Average DOM in Q2 |
|---|
Luxury homes are defined as properties priced above $1M.
Figures reflect QTD closed sales from the most recent quarterly reporting period.
Waterfront Markets
Waterfront interest followed seasonal patterns.
65 Sales in Q2 | $706,745 Average Price in Q2 | 7 Average DOM in Q2 |
|---|
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 acted with practical intent.
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
Conditions will reflect seasonal demand.