The Quarter in Review
Third Quarter
Southern Maryland experienced steady engagement throughout Q3 2023, supported by demand for space and accessibility during the late summer months. Buyers remained active but increasingly thoughtful, prioritizing long-term usability over speed. Market conditions during the quarter reflected consistency rather than heightened competition.
Southern Maryland Snapshot
This snapshot reflects summer-quarter performance across Southern Maryland.
$633,419,555 Total Sales Volume | 1,388 Total Transactions | 1.8 Months of Inventory |
|---|---|---|
9 Median Days on Market | $424,663 Median Sales Price | 96.8% List to Sales Price Ratio |
Luxury Markets
Luxury engagement remained practical.
14 Sales in Q3 | $1,381,926 Average Price in Q3 | 24 Average DOM in Q3 |
|---|
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.
56 Sales in Q3 | $769,402 Average Price in Q3 | 16 Average DOM in Q3 |
|---|
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 usability.
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
Market direction would remain steady.