The Quarter in Review
Fourth Quarter
Market activity across Southern Maryland in Q4 2023 reflected a seasonal slowdown typical of the year’s end, with buyers approaching opportunities more deliberately. Engagement remained steady for well-positioned homes, particularly those offering space and accessibility, while other listings required additional time as decision-making extended into the winter months. Overall, the quarter closed with consistent participation rather than urgency, reinforcing a measured market tone heading into the new year.
Southern Maryland Snapshot
This snapshot reflects overall residential activity across Southern Maryland during the third quarter.
$539,291,736 Total Sales Volume | 1,175 Total Transactions | 2 Months of Inventory |
|---|---|---|
14 Median Days on Market | $425,110 Median Sales Price | 98.0% List to Sales Price Ratio |
Luxury Markets
Luxury engagement reflected steady interest without urgency.
17 Sales in Q4 | $1,318,007 Average Price in Q4 | 9 Average DOM in Q4 |
|---|
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.
38 Sales in Q4 | $764,272 Average Price in Q4 | 13 Average DOM in Q4 |
|---|
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
Conditions ahead would depend on demand continuity.