Southern Maryland | Q3 2024 Market Report

The Quarter in Review

Third Quarter

Q3 2024 offered Southern Maryland a poised pause. After a slower Q1 with reduced nearly 17% in transactions, and as year-end data showed modest price growth (~4%), the mid-year likely settled into a balanced rhythm. Buyers saw a market that wasn’t feverish—but wasn’t cooling either. Inventory remained tight, houses moved steadily, and market energy leaned toward clarity over chaos. This was a quarter of thoughtful recalibration, with value and timing taking the lead.

Southern Maryland Snapshot

This snapshot captures third-quarter performance across Southern Maryland.

Luxury Markets

Luxury engagement reflected steady interest without urgency.

_{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.

_{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 balanced timing and planning.

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 will remain grounded.

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