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The Federal Reserve’s decision last week to lower interest rates was widely anticipated, but its effects are far-reaching, especially in the real estate world. For the first time in four years, the Fed slashed its federal funds rate by 0.5%, placing it between 4.75% and 5%. While the rate cut alone doesn’t address housing inventory shortages, it does signal a critical shift in market conditions that could create opportunities for both buyers and sellers. Why This Rate Cut Matters Mortgage rates had already begun to fall in anticipation of the Fed’s move, offering a breath of fresh air for the residential market. With inflation finally nearing the Fed’s 2% target and unemployment ticking up to 4.3%, it’s clear that economic conditions were ripe for a rate cut. For buyers, this could mean increased affordability, especially as mortgage rates, currently hovering just above 6%, continue to decline. The lower borrowing costs create an environment where buyers may feel more confident taking the plunge into homeownership, particularly if they have strong stock portfolios that benefit from a more favorable rate environment. What It Means for Sellers From a seller's perspective, the current rate environment may signal a resurgence in buyer activity, especially for those sitting on the fence about listing their property. As the President of Communications at our brokerage noted last week, this is an opportune moment for agents to connect with clients — past, present, and prospective — to guide them through how these economic shifts impact their decisions. Lower rates may encourage buyers to act faster, and sellers who market their properties effectively could see renewed interest from motivated buyers. A Political and Economic Crossroad What’s fascinating about this rate cut is its timing. As Bloomberg highlighted, it coincides with a pivotal moment in the U.S. political landscape, which adds another layer of complexity. With the presidential election looming, the optics of this move could lead some to believe the Fed is attempting to boost the economy for political gain. Despite these theories, the Fed's actions aim to achieve a delicate "soft landing" — taming inflation without triggering a major recession or drastic job losses. However, with the U.S. deficit ballooning to 6% of GDP, the financial markets remain on edge. As noted by Adrian Wooldridge, some experts foresee a future reckoning, where economic intervention could be forced if the current fiscal trajectory continues. This makes the real estate market a unique space right now, where both risk and reward are in play. What’s Next? For Fed watchers, the next big question is whether more cuts are on the horizon. The central bank’s “dot plot” projections suggest a slim majority favor at least another half-point reduction this year. This would only further fuel declining mortgage rates and potentially stir more activity in the housing market. But it’s important to remember that inventory constraints persist, so while rates are falling, competition for available homes will likely remain tight. Take Action As real estate professionals, this is the time to educate your clients on what these developments mean for them. Whether they’re looking to buy, sell, or invest, guiding them through the nuances of the current market can help them seize opportunities in what is likely to be a dynamic few months ahead. With lower borrowing costs, a stabilizing economy, and more affordable mortgage rates, the next chapter in real estate could be one of renewed energy — and your clients will be looking to you to help them navigate it.

Welcome to our quarterly real estate market report. This comprehensive review covers key insights and data from the Greater Annapolis region which we are defining as Anne Arundel County. It's one of the most desirable regions for luxury and waterfront properties with its blend of historic charm, waterfront access and proximity to the Chesapeake Bay. The Greater Annapolis market continues to evolve, with significant shifts across inventory, price fluctuations, and buyer behavior, all of which are detailed in this report. We’ve also included community spotlights, luxury market trends, buyer insights, and a quarterly forecast to offer a forward-looking perspective for the next quarter’s opportunities. Whether you're looking for a primary residence or a second home, this report gives you everything you need to make informed decisions in the Greater Annapolis market. Table of Contents Introduction and Market Overview Greater Annapolis Market Analysis Key Metrics Community Spotlights Luxury Sales Buyer Insights Waterfront Property Insights Quarterly Forecast (Q3 2024) What You’ll Find in This Report This report offers a deep dive into the real estate trends in Greater Annapolis, which we are defining as properties in Anne Arundel County worth over $1M. Key Insights Covered: Market Performance: Quarter-over-quarter and year-over-year comparisons on transactions, sales value, price per square foot (PPSF), and days on market. Community Spotlights: Deep dives into the top-performing neighborhoods, highlighting local trends, new developments, and buyer demand. Luxury Market Analysis: Breakdown of notable luxury sales, including the top sales, and what factors are driving premium prices. Buyer Insights: A closer look at who is buying, including demographic data, preferences for waterfront vs. non-waterfront properties, and shifts in cash vs. financed purchases. Visual Data: Graphs and charts to make key data points accessible, such as trends in inventory, average sale price growth, and notable sales over time. Quarterly Forecast: Expert predictions for the next quarter based on current data, interest rate trends, and inventory projections. Greater Annapolis Market Analysis The Greater Annapolis market experienced continued strong demand in Q2 2024 , particularly in the luxury and waterfront segments. While the total number of transactions and sales value increased compared to Q2 2023 , properties also sold faster, with an increase in the average days on market. The average price per square foot also rose, reflecting increasing competition for high-end properties. Key Metrics Metric Q2 2024 Q2 2023 % Change Year Over Year Total Transactions 166 139 +19.42% Waterfront Transactions 56 45 +24.44% Total Sales Value $290,358,790 $234,827,787 +23.60% Average Sales Price $1,749,149 $1,689,409 +3.53% Price Per Square Foot $538.24 $471.45 +14.15% Days on Market (Average) 27.34 21.31 +28.30% Waterfront Lifestyle Feature Greater Annapolis offers an unparalleled lifestyle for those seeking waterfront living. The region provides quick access to the Chesapeake Bay, world-class marinas, and opportunities for boating, sailing, and water sports. Many homes feature private docks, offering the perfect retreat for waterfront enthusiasts. Click below to view our complete waterfront guide to Greater Annapolis! Curious what your waterfront property is worth? We do private consultations regularly and happy to do one for you as well. They don't always mean you're interested in selling. You can use our valuations to help with estate planning, financial forecasting or just for your own information. Community Spotlights Murray Hill remains one of the most desirable neighborhoods in Annapolis. This quarter, it led the region with a total sales value of over $20 million, with 10 transactions and an average sales price of just over $2 million. Homes in Murray Hill continue to move fast, with properties spending an average of just 15 days on the market. Q2 2024 Key Metrics: Total Sales Value : $20,124,500 Average Sales Price : $2,012,450 Number of Transactions : 10 Average Days on Market : 15 Lifestyle Feature:  Murray Hill residents enjoy walkability to historic Annapolis, nearby parks, the arts district, and countless dining options. Eastport continues to dominate as a key waterfront community, with 8 transactions this quarter and an average sales price of over $2.1 million. The market here remains competitive, with homes selling in just under 11 days. Q2 2024 Key Metrics: Total Sales Value: $16,995,000 Average Sales Price : $2,124,375 Number of Transactions : 8 Average Days on Market : 10.88 Lifestyle Feature:  Living in Eastport means being part of the Annapolis Regatta culture and having the best seafood restaurants and cafes within walking distance. Known for its luxury waterfront estates, Winchester on the Severn saw fewer transactions (2) this quarter but commanded the highest average sales price at nearly $3.5 million. Properties here take longer to sell, with an average of 91 days on the market, but they offer exceptional privacy and waterfront access. Q2 2024 Key Metrics: Total Sales Value : $6,975,000 Average Sales Price : $3,487,500 Number of Transactions : 2 Average Days on Market : 91 Investment Insight:  Winchester on the Severn has seen consistent value appreciation due to its unique combination of privacy and waterfront luxury. Luxury Sales The luxury market in Greater Annapolis saw significant activity in Q2 2024 , with demand for large waterfront estates driving the top sales . The highest-priced transaction was a property on Milvale Rd , selling for $6.9 million. Several other properties sold quickly in this competitive segment, particularly those with waterfront access. Top 10 Luxury Sales this quarter Luxury Real Estate as an Investment The luxury market continues to grow, with top properties appreciating significantly year over year. Buyers are not just purchasing a home—they are investing in a lifestyle. Over the past two quarters, high-end properties have appreciated by an average of 3.6 % , making them a smart choice for long-term investment. Buyer Insights The buyer profile in Greater Annapolis  continues to skew towards high-net-worth individuals seeking either primary residences or second homes. The market remains competitive, especially for waterfront properties and homes in desirable neighborhoods. The demand for privacy, waterfront access, and modern amenities is driving much of the activity in Q2 2024. Key Insights Buyer Demographics : Many buyers are coming from nearby metropolitan areas such as Washington, D.C. , and Baltimore . The majority are high-income professionals, retirees, or second-home buyers looking for luxury primary residences or seasonal waterfront homes. Property Preferences : Waterfront properties  remain a top priority for buyers. Homes offering direct water access, dock facilities, and privacy continue to command premium prices. New construction and modern finishes : Homes with modern amenities and turnkey properties are in high demand, particularly in the luxury segment. Proximity to downtown Annapolis : Buyers looking for walkability, access to cultural activities, and a vibrant community are attracted to properties in or near downtown neighborhoods like Murray Hill  and Eastport . Financing Trends : Cash purchases  dominate the luxury segment, as high-net-worth buyers take advantage of favorable market conditions. Financed purchases : More buyers in the mid-to-high-end market are leveraging low interest rates for mortgages, particularly in the $1M-$2M price range. Eco-Friendly and Sustainable Living There is also growing demand for luxury homes with eco-friendly features . In Greater Annapolis, many newly constructed homes incorporate energy-efficient systems, solar panels, and sustainable building materials. Buyers are increasingly looking for properties that align with their environmental values without compromising luxury. Quarterly Forecast (Q3 2024) Market Outlook for Q3 2024 Continued Demand for Waterfront and Luxury Properties - The strong demand for waterfront properties and luxury homes is expected to continue, particularly as high-net-worth buyers from urban centers like Washington, D.C., and Baltimore seek more private and spacious living environments. We anticipate a slight increase in the average price per square foot for high-end properties, particularly in desirable areas like Eastport  and Winchester on the Severn . Stable Inventory Levels, but Increased Competition - Inventory levels are likely to remain tight, especially for premium homes. This is expected to result in increased competition among buyers, keeping prices steady or driving them slightly higher. Homes in sought-after communities like Murray Hill  and Annapolis Neck  may sell even faster in Q3. Interest Rate Impact on Mid-Range Homes - As interest rates remain favorable, mid-range buyers ($1M-$2M) may continue to take advantage of financing options, leading to sustained activity in this segment. However, a potential rise in interest rates could slightly temper demand in this bracket toward the end of the quarter. Seasonal Buyer Activity - Historically, Q3 sees increased buyer activity  as families finalize home purchases before the school year begins. Expect higher demand for family-friendly homes in Annapolis Neck  and Bay Ridge  during the summer months. Exclusive Offerings for Buyers Private Consultations and Home Tours Interested in finding your perfect Annapolis waterfront home? Schedule a private consultation  with us for a tailored home tour or to discuss investment opportunities. We offer exclusive access to some of the most desirable properties in the region. As we conclude this quarterly analysis of the Greater Annapolis luxury real estate market, it’s evident that the region continues to attract high-end buyers seeking both luxury and lifestyle. With consistent demand for waterfront properties and top-tier homes, the market has maintained strong sales figures despite fluctuating economic conditions. The rise in both listed and sold median prices  over the last few years reflects the continued desirability of the area, while key trends such as faster days on market and increased competition among buyers highlight the competitiveness of this luxury segment. Moving forward, the market is expected to remain robust, especially as we move into the final quarter of the year. Buyers and sellers alike should prepare for continued strong demand, particularly in neighborhoods offering unique waterfront access and luxury amenities. Our forecast anticipates that interest in Annapolis luxury homes will remain high, driven by continued low inventory and a focus on lifestyle-driven purchases. As always, we encourage prospective buyers and sellers to stay informed of market trends and to work with experienced professionals to navigate this dynamic market. We hope you’ve found this report insightful and that it aids in your real estate decisions. Should you have any questions or require further information, our team is here to assist. Thank you for trusting us with your real estate needs, and we look forward to continuing to provide you with timely, actionable market insights.

As we dive into the Greater Annapolis real estate market for August 2024, both the luxury and waterfront segments reveal interesting trends. This report will provide key insights into pricing, sales volume, and market dynamics for properties in the $1M+ range, as well as sought-after waterfront homes. With slight shifts in average prices and days on market, the Annapolis luxury and waterfront markets continue to evolve. Let’s explore the data to better understand how these trends are shaping the real estate landscape this month. Exploring Market Metrics In August 2024, the luxury real estate market in Greater Annapolis saw slight shifts in both pricing and activity. The average price  of luxury properties dipped to $1,649,092, down from $1,700,281 in July and slightly below the $1,711,206 mark recorded in August 2023. This gradual decline suggests a softening in the market as luxury buyers become more selective. Days on market  improved slightly, with properties taking an average of 27 days to sell, compared to 33 days in July. This is still slightly longer than the 23 days seen in August 2023, signaling that while homes are moving faster than last month, the pace is still slower than it was a year ago. The total number of sales  also decreased, with 44 homes sold in August, down from 48 in July. However, sales are still up compared to August 2023, when 34 luxury properties were sold, indicating that demand for high-end homes remains strong overall despite the slight month-over-month dip. The list price to sales price ratio  came in at 96.4%, down from 97.7% in July and 99.2% in August 2023. This reflects increasing room for negotiation, as buyers are securing luxury homes at prices further below the asking price compared to previous months. ANNAPOLIS LUXURY august 2024 July 2024 august 2023 Average Price $1,649,092 $1,700,281 $1,711,206 Days on Market 27 33 23 Total Sales 44 48 34 List Price To Sales Price 96.4 % 97.7% 99.2% The waterfront market in Annapolis experienced several key shifts in August 2024. Average prices  increased to $1,645,364, up from $1,585,887 in July and significantly higher than the $1,330,347 recorded in August 2023. This continued growth highlights strong demand for waterfront properties, with buyers willing to pay a premium for homes in these coveted locations. However, days on market  dropped to 36 in August, a noticeable improvement from 51 days in July, signaling that properties are selling faster as buyers act more quickly. This is a slight change compared to August 2023, where homes took an average of 39 days to sell, indicating that the market is moving more efficiently than last year. The total number of sales  in August fell to 22, down from 31 in July and also lower than the 30 waterfront sales seen in August 2023. This reduction suggests that while pricing is strong, inventory may be tightening, or buyers are being more selective, causing a drop in total transactions. The list price to sales price ratio  also dipped slightly to 95.3%, down from 96% in July and from 95.7% in August 2023. This indicates that while properties are still selling close to their asking prices, there’s a bit more room for negotiation compared to previous months. ANNAPOLIS waterfront august 2024 July 2024 august 2023 Average Price $1,645,364 $1,585,887 $1,330,347 Days on Market 36 51 39 Total Sales 22 31 30 List Price To Sales Price 95.3% 96% 95.7 % let's look at the average property in each market in aug '24 MARKET BEDS BATHS SQUARE FEET PPSF ANNAPOLIS LUXURY 4 5 4,447 $541.91 ANNAPOLIS WATERFRONT 4 3 3,099 $634.26 Top 10 Sold Listings Intrigued by the top 10 listings that set the real estate market abuzz in August? Here are some of the standout properties that resonated with buyers: Swipe right to see all of the top 10 sales. Explore these listings here to uncover more details about each sale. Top 10 New Listings The excitement doesn't end with the sold properties. Here are the top 10 new listings that made a grand entrance into the real estate arena, poised to capture the attention of eager house hunters: Don't miss out on the exclusive details of these new listings that have redefined the standard of modern living. In Conclusion The Greater Annapolis real estate market in Anne Arundel County thrives with diversity and opportunity, offering a tapestry of homes that cater to various preferences and lifestyles. Whether you seek the timeless allure of Annapolis or the serene beauty of Severna Park, there's a place for everyone in this vibrant market. Stay tuned for more insights, market updates, and captivating listings as we continue to navigate the ever-evolving real estate landscape. Remember, your dream home might just be a listing away!

As we turn our attention to the Greater Baltimore real estate market in August 2024, both the luxury and waterfront segments continue to shape the landscape of this dynamic region. Covering Baltimore City, Baltimore County, and Howard County, this report delves into key trends, including shifts in pricing, sales volume, and buyer behavior. With evolving market conditions, Greater Baltimore remains a focal point for high-end and waterfront real estate, offering valuable insights into how these segments are performing. Let’s dive into the data to explore what August has revealed about the luxury and waterfront markets in this thriving area. Exploring Market Metrics The Greater Baltimore luxury market remained robust in August 2024, with average prices  rising to $1,424,321, up from $1,361,849 in July and slightly higher than the $1,403,984 recorded in August 2023. This steady price growth suggests ongoing demand for high-end properties across Baltimore City, Baltimore County, and Howard County. However, luxury homes took longer to sell in August, with the days on market  increasing to 36 days, more than double the 17 days seen in July. This return to a more typical pace, comparable to the 35 days in August 2023, may indicate that the market is normalizing after a period of faster sales. In terms of sales volume , 76 luxury homes were sold in August, down from 80 in July but slightly above the 74 sales recorded in August 2023. This slight dip suggests that while demand remains strong, the market may be cooling off slightly compared to earlier in the summer. The list price to sales price ratio  came in at 99.6%, a slight decrease from the 100.5% in July but still higher than the 98.7% in August 2023. This indicates that sellers are still getting very close to their asking prices, showing the competitive nature of the market even as the pace of sales slows. greater baltimore luxury august 2024 July 2024 august 2023 Average Price $1,424,321 $1,361,849 $1,403,984 Days on Market 36 17 35 Total Sales 76 80 74 List Price To Sales Price 99.6% 100.5% 98.7 % The Greater Baltimore waterfront market saw some fluctuations in August 2024. Average prices  rose to $661,340, up from $611,093 in July, but almost on par with the $663,395 recorded in August 2023. This slight increase from the previous month suggests steady demand for waterfront properties, though pricing remains relatively stable year-over-year. Days on market  increased sharply to 45 days in August, up from 18 days in July but still faster than the 56 days seen in August 2023. This extended timeframe could indicate that while waterfront homes are still moving, buyers are taking longer to close deals compared to earlier in the summer. Total sales  ticked up, with 20 waterfront homes sold in August, compared to 15 in July and 19 in August 2023. This small increase points to continued interest in waterfront properties, especially around Baltimore Harbor and some of the area’s more secluded lakes. The list price to sales price ratio  fell slightly to 94.3%, down from 96.4% in July but higher than the 93.1% recorded in August 2023. This suggests that while sellers may be negotiating a bit more, they are still receiving competitive offers close to their asking prices, reflecting solid demand in this niche market. greater baltimore WATERFRONT august 2024 July 2024 august 2023 Average Price $661,340 $611,093 $663,395 Days on Market 45 18 56 Total Sales 20 15 19 List Price To Sales Price 94.3% 96.4% 93.1% let's look at the average property in each market in july '24 MARKET BEDS BATHS SQUARE FEET PPSF GREATER BALTIMORE LUXURY 5 5 5,400 $ 323.73 GREATER BALTIMORE WATERFRONT 3 3 2,184 $299.62 Target Demographic for These Properties Luxury Market Buyers : Affluent Professionals and Families : Buyers are likely in their mid-40s to mid-60s, established in careers with a high disposable income. These buyers are likely to be professionals in fields like law, finance, or healthcare, and may own their own businesses. Dual-Income Families : Many buyers in this market are dual-income households seeking both luxury and comfort. Proximity to good schools, country clubs, and cultural amenities makes these homes appealing to families with children. Upsizers/Second-Home Buyers : These buyers are often moving up in the market from smaller luxury homes or upgrading their lifestyle. Some may also be purchasing second homes, using them as part-time residences or for investment purposes. Waterfront Market Buyers : Empty Nesters/Retirees : Many buyers for waterfront properties are older, perhaps in their late 50s to 70s, looking for a peaceful retreat near the water, either as a primary residence or a vacation home. They are likely to have accumulated wealth and are interested in a more relaxed lifestyle. Younger Professionals Seeking Vacation Properties : Some younger professionals in their 30s and 40s may be looking for second homes or weekend getaways. They may prioritize proximity to water for recreational activities like boating or fishing. Investors/Short-Term Rental Seekers : There could also be interest from investors looking for vacation rentals or Airbnb properties in the waterfront segment. The proximity to Baltimore’s urban core or local lakes makes these homes attractive for short-term rental opportunities. Top 10 Sold Listings Intrigued by the top 10 listings that set the real estate market abuzz in August? Here are some of the standout properties that resonated with buyers: Swipe right to see all of the top 10 sales . Explore these listings here to uncover more details about each sale. Top 10 New Listings The excitement doesn't end with the sold properties. Here are the top 10 new listings that made a grand entrance into the real estate arena, poised to capture the attention of eager house hunters: Don't miss out on the exclusive details of these new listings that have redefined the standard of modern living. In Conclusion The Greater Baltimore luxury market  is clearly targeting affluent families and professionals seeking spacious, high-end homes with ample room for entertainment and comfort, while the waterfront market  focuses on buyers who prioritize location and lifestyle, often with smaller properties but unique access to waterfront amenities. The price per square foot and size of these homes reflect the different priorities of buyers in each segment, from those desiring expansive luxury to those seeking the tranquility and prestige of waterfront living.

As we close out August 2024, Southern Maryland’s real estate market—encompassing Charles, Calvert, and St. Mary’s counties—presents a compelling mix of trends in both the luxury and waterfront segments. Known for its scenic landscapes and waterfront appeal, this region continues to attract buyers seeking a balance of luxury living and serene waterfront properties. In this report, we’ll explore key data points, including pricing trends, days on market, and sales activity, providing insights into the current state of the high-end real estate market in Southern Maryland. Let’s dive into the numbers to see how these segments performed throughout August. Exploring Market Metrics In August 2024, the Southern Maryland luxury market saw notable changes, particularly in pricing and market activity. The average price  for luxury properties rose to $1,242,777, a slight increase from $1,111,369 in July but still lower than the $1,329,111 recorded in August 2023. This suggests that while demand remains steady, prices have moderated compared to last year’s highs. One of the most significant changes was in days on market , which dropped dramatically to just 3 days, down from 24 days in July and 41 days in August 2023. This indicates that luxury homes are selling almost immediately, signaling high demand and eager buyers ready to act quickly. However, total sales  volume decreased to just 2 properties sold in August, down from 4 in July and 9 in August 2023. This decline in sales could point to limited inventory or fewer high-end properties coming onto the market. The list price to sales price ratio  reached 100%, an improvement from 98.8% in July and significantly higher than the 97.1% recorded in August 2023. This indicates that sellers are achieving full asking prices, further emphasizing the strong demand for luxury properties in Southern Maryland. southern maryland luxury august 2024 July 2024 august 2023 Average Price $1,242,777 $1,111,369 $ 1,329,111 Days on Market 3 24 41 Total Sales 2 4 9 List Price To Sales Price 100% 98.8 % 97.1% The Southern Maryland waterfront market saw a mix of steady performance and notable improvements in August 2024. The average price  for waterfront properties slightly decreased to $696,450, down from $701,176 in July and a more significant drop from $795,917 in August 2023. This suggests a softening in pricing as the market adjusts, though demand for waterfront living remains consistent. Days on market  improved significantly, with homes selling in an average of 23 days, down from 53 days in July and 50 days in August 2023. This faster turnaround time indicates that waterfront properties are moving more quickly, perhaps driven by buyers seizing opportunities at slightly lower price points. Total sales  increased to 20 properties in August, up from 17 in July but slightly lower than the 24 sales recorded in August 2023. This uptick reflects growing interest in waterfront properties as the summer market remains active, despite slightly lower pricing. The list price to sales price ratio  also improved, rising to 97.5% from 95.8% in July and 96.7% in August 2023. This suggests that sellers are receiving offers closer to their asking prices, reflecting stable demand for waterfront homes in Southern Maryland. southern maryland WATERFRONt august 2024 July 2024 august 2023 Average Price $ 696,450 $701,176 $795,917 Days on Market 23 53 50 Total Sales 20 17 24 List Price To Sales Price 97.5% 95.8 % 96.7% let's look at the average property in each market in aug '24 MARKET BEDS BATHS SQUARE FEET PPSF SOUTHERN MD LUXURY 4 5 4,892 $301.55 SOUTHERN MD WATERFRONTS 4 3 2,344 $356.48 Luxury homes  in Southern Maryland offer more interior space at a slightly lower price per square foot, catering to buyers seeking expansive homes with high-end amenities. Waterfront homes , while smaller, command a higher price per square foot due to their desirable locations and water access, appealing to buyers focused on lifestyle and outdoor living. The difference in PPSF  highlights the premium placed on waterfront living, even though waterfront homes are smaller than their luxury counterparts, demonstrating that location is a key driver of value in this segment. Top 10 Sold Listings Intrigued by the top 10 listings that set the real estate market abuzz in August? Here are some of the standout properties that resonated with buyers: Swipe right to see all of the top 10 sales . Explore these listings here to uncover more details about each sale. Top 10 New Listings The excitement doesn't end with the sold properties. Here are the top 10 new listings that made a grand entrance into the real estate arena, poised to capture the attention of eager house hunters: Don't miss out on the exclusive details of these new listings that have redefined the standard of modern living. In Conclusion The Southern Maryland real estate market in August 2024 presented clear distinctions between its luxury and waterfront segments, each attracting different buyer profiles. The luxury market continues to cater to affluent families and individuals seeking expansive homes with high-end amenities, while the waterfront market remains focused on offering a unique lifestyle, where location and water access command a premium. Despite fewer sales in the luxury segment, high demand is evident, as homes are selling quickly and at full asking price. The waterfront market, although seeing a slight dip in average pricing, remains competitive with properties moving faster than in previous months and at prices close to asking. Buyers in this segment are paying a premium per square foot, highlighting the ongoing appeal of waterfront living. As we move forward, Southern Maryland's real estate market shows a healthy balance between size, luxury, and lifestyle, offering opportunities for both buyers and sellers across these high-demand segments. Whether seeking sprawling luxury estates or the tranquility of waterfront living, the region continues to provide diverse options that meet the evolving needs of its buyer base.

The buzz in the real estate world continues to revolve around the captivating market trends of Queen Anne's County, Talbot County and Kent County for the month of July 2024. Let's delve into a comprehensive market report that uncovers the highlights of different regions within this vibrant market, offering insights into average square footage, pricing, total sales, and much more. Buckle up as we embark on this journey through the real estate landscape of Maryland's vibrant Eastern Shore. Exploring Market Metrics The Eastern Shore luxury market saw significant changes in August 2024, particularly in terms of pricing and market competitiveness. The average price  for luxury properties surged to $2,090,692, up from $1,768,750 in July and substantially higher than the $1,655,313 recorded in August 2023. This sharp rise reflects strong demand in the luxury segment, with buyers willing to pay top dollar for premium properties in the region. However, properties are taking longer to sell. Days on market  increased to 61 in August, up from 46 in July, though still shorter than the 69 days recorded in August 2023. This suggests that while prices are rising, buyers are taking more time to finalize purchases, possibly indicating a more deliberate approach to high-end acquisitions. Total sales  volume decreased slightly, with 13 luxury properties sold in August compared to 16 in both July 2024 and August 2023. This drop could point to limited inventory or buyer hesitation in the face of rising prices. One area where the market has softened is the list price to sales price ratio , which fell to 88.3%, down from 94% in July and 96% in August 2023. This decrease indicates that buyers are negotiating more aggressively, with sellers receiving less than their asking price, suggesting a market where pricing expectations and offers are diverging. EASTERN SHORE LUXURY august 2024 July 2024 august 2023 Average Price $2,090,692 $1,768,750 $1,655,313 Days on Market 61 46 69 Total Sales 13 16 16 List Price To Sales Price 88.3% 94% 96% The waterfront market in the Eastern Shore region saw some notable shifts in August 2024. Average prices  fell to $1,116,288, down from $1,276,614 in July and from $1,288,955 in August 2023. This decline in pricing suggests that while the demand for waterfront properties remains steady, buyers are pushing for more favorable deals or market conditions are shifting downward. Days on market  increased significantly to 75 days in August, up from 44 days in July and 56 days in August 2023. This longer time on market indicates that properties are taking considerably more time to sell, perhaps reflecting more caution among buyers or a more competitive environment with greater inventory to choose from. On the other hand, total sales  rose to 26 in August, up from 22 in both July 2024 and August 2023. This growth in sales volume highlights the ongoing appeal of waterfront properties, despite the pricing changes and longer selling times. However, the list price to sales price ratio  dropped to 90.5%, down from 94.8% in July and 92.9% in August 2023. This further decline shows that buyers are negotiating harder and sellers are accepting lower offers, contributing to the overall decrease in average pricing. EASTERN SHORE waterfront august 2024 July 2024 august 2023 Average Price $1,116,288 $1,276,614 $1,288,955 Days on Market 75 44 56 Total Sales 26 22 22 List Price To Sales Price 90.5% 94.8% 92.9 % let's look at the average property in each market in aug '24 MARKET BEDS BATHS SQUARE FEET PPSF EASTERN SHORE LUXURY 4 4 3,191 $766.95 EASTERN SHORE WATERFRONT 3 3 2,402 $ 469.23 Top 10 Sold Listings Curious about the top 10 properties that created a buzz in the real estate market in August? Here are some of the exceptional listings that caught the attention of buyers: Swipe right to see all of the top 10 sales . Explore these listings here to uncover more details about each sale. Top 10 New Listings The excitement doesn't end with the sold properties. Here are the top 10 new listings that made a grand entrance into the real estate arena, poised to capture the attention of eager house hunters: Don't miss out on the exclusive details of these new listings that have redefined the standard of modern living. In Conclusion August 2024 brought significant shifts to both the luxury and waterfront segments of the Eastern Shore market. The luxury market saw a sharp rise in average prices, reflecting strong demand, but properties lingered longer on the market and sales were slightly down. Buyers seem to be more cautious, negotiating harder, as evidenced by the drop in the list price to sales price ratio. In the waterfront segment, average prices fell while total sales increased, showing that while more properties are changing hands, they are selling at lower prices and taking longer to close. Buyers are negotiating more aggressively, contributing to the lower list-to-sale ratios seen this month. Overall, the Eastern Shore market is in transition, with some signs of softening in pricing but continued interest from buyers in both the luxury and waterfront sectors. As the market evolves, close attention to pricing strategies and buyer behavior will be key for sellers navigating these changes.

As we explore Southern Maryland’s real estate landscape in July 2024, both the luxury and waterfront segments offer valuable insights into the region's evolving market. Covering Charles, Calvert, and Saint Mary’s counties, this report highlights key trends such as pricing shifts, sales volume, and days on market for high-end and waterfront properties. With dynamic changes shaping both segments, this overview provides a clear snapshot of the opportunities and movements within these desirable markets. Let’s dive into the data and uncover what’s driving the Southern Maryland luxury and waterfront real estate scene this summer. Exploring Market Metrics The Southern Maryland luxury market, covering Charles, Calvert, and Saint Mary’s counties, saw some interesting shifts in July 2024. The average price  of luxury homes dipped to $1,111,369, down from $1,217,208 in June and $1,266,667 in July 2023. This decline reflects a cooling in luxury home prices compared to last year and last month. On the positive side, days on market  decreased significantly, with luxury properties selling in an average of just 24 days. This is a marked improvement from June, when homes took 37 days to sell, though still higher than the unusually fast 6-day average seen in July 2023. The quicker turnaround this month suggests buyers are acting faster, even in a softening price environment. Sales volume  remains relatively low, with only 4 luxury properties sold in July, down from 6 in June but still ahead of the 3 sales recorded in July 2023. This suggests that demand for luxury properties is steady, though not booming. The list price to sales price ratio  came in at a healthy 98.8%, a notable improvement from 96% in June but slightly lower than the 101.1% achieved in July 2023. This indicates that sellers are receiving near-asking prices, reflecting solid demand and fair pricing strategies in the luxury market. southern maryland luxury July 2024 june 2024 july 2023 Average Price $1,111,369 $1,217,208 $1,266,667 Days on Market 24 37 6 Total Sales 4 6 3 List Price To Sales Price 98.8 % 96% 101.1 % The Southern Maryland waterfront market has experienced a blend of stability and shifts in July 2024. The average price  for waterfront properties rose to $701,176, a modest increase from $671,478 in June, and slightly higher than the $687,888 recorded in July 2023. This suggests that waterfront properties are maintaining value, with steady demand keeping prices in a healthy range. However, homes are taking longer to sell. Days on market  jumped to 53 in July, a notable decrease from 78 days in June, but still far higher than the 17 days seen in July 2023. This indicates that buyers are taking more time to make purchasing decisions compared to last year, though the shorter days on market this month point to a rebound from June’s slower activity. In terms of total sales , the market saw a dip, with 17 homes sold in July, down from 19 in June and significantly lower than the 32 sales in July 2023. This drop in sales volume could suggest that inventory is tighter or that buyers are being more selective. The list price to sales price ratio  stood at 95.8% in July, a slight improvement from 93.9% in June but below the 99.2% seen last year. This indicates that buyers have more room to negotiate, though sellers are still capturing close to their asking prices. southern maryland WATERFRONt July 2024 JUNE 2024 JULY 2023 Average Price $701,176 $671,478 $687,888 Days on Market 53 78 17 Total Sales 17 19 32 List Price To Sales Price 95.8 % 93.9 % 99.2 % let's look at the average property in each market in july '24 MARKET BEDS BATHS SQUARE FEET PPSF SOUTHERN MD LUXURY 5 5 4,669 $339.67 SOUTHERN MD WATERFRONTS 3 3 2,483 $331.00 Top 10 Sold Listings Intrigued by the top 10 listings that set the real estate market abuzz in July? Here are some of the standout properties that resonated with buyers: Swipe right to see all of the top 10 sales . Explore these listings here to uncover more details about each sale. Top 10 New Listings The excitement doesn't end with the sold properties. Here are the top 10 new listings that made a grand entrance into the real estate arena, poised to capture the attention of eager house hunters: Don't miss out on the exclusive details of these new listings that have redefined the standard of modern living. In Conclusion July 2024 has brought a blend of shifts and steady trends to Southern Maryland’s luxury and waterfront markets. While luxury prices have softened compared to earlier in the year, buyer demand remains relatively strong, with homes selling faster and near asking prices. The waterfront market, though holding steady in price, has seen a slower pace of sales and longer days on market compared to last year, indicating a more deliberate approach from buyers. Both segments reflect a market in transition—luxury properties are maintaining their value with reduced price negotiations, while the waterfront market sees modest price growth and a slight cooling in activity. As Southern Maryland continues to attract high-end and waterfront buyers, understanding these evolving dynamics will be key for both buyers and sellers in the months ahead.

The buzz in the real estate world continues to revolve around the captivating market trends of Anne Arundel County for the month of July 2024. Let's delve into a comprehensive market report that uncovers the highlights of different regions within this vibrant market, offering insights into average square footage, pricing, total sales, and much more. Buckle up as we embark on this journey through the real estate landscape of Anne Arundel County, encompassing the charming city of Annapolis and the serene enclave of Severna Park. Exploring Market Metrics To kick things off, let's take a closer look at the essential market metrics that encapsulate the real estate scene in July 2024. The luxury market is showing some interesting shifts. Average home prices dipped slightly, down 1.5% from June 2024, and have fallen more significantly by 9.6% compared to July 2023. While homes are taking longer to sell—days on market have jumped 50% since last month—they’re actually moving faster than they were this time last year, with a 19.5% reduction in time on the market. Sales volume is also experiencing a bit of a rollercoaster, with total transactions down nearly 16% from last month, but up by almost 7% year-over-year. In terms of pricing strategy, the list-to-sale price ratio remains a solid indicator of market competitiveness. Last month, luxury homes were selling for 100% of their asking price, which is impressive, but this month that number has softened to 97.7%. That said, it’s still a stronger showing than July 2023’s 97.1%, showing that the market is holding its own despite the fluctuations. ANNAPOLIS LUXURY July 2024 Month Over Month Year Over Year Average Price $1,700,281 $ 1,726,768 $1,880,237 Days on Market 33 22 41 Total Sales 48 57 45 List Price To Sales Price 97.7% 100.1% 97.1% July 2024 brought a blend of movements in the Annapolis waterfront market. The average price  of homes dipped month-over-month, down to $1,585,887 from $1,778,389 in June. Compared to this time last year, prices have softened by about 11.9%, showing a notable shift from the $1,799,282 recorded in July 2023. Days on market  have lengthened significantly from last month, climbing from 32 to 51 days—a 59% increase. Yet, compared to July 2023, homes are moving at a similar pace, as last year’s figure was just two days lower, at 49 days. When it comes to sales activity, the market is holding steady. Total sales  in July reached 31, up from 29 the previous month and 27 this time last year—a promising sign of demand in the waterfront segment. The list-to-sales price ratio  provides insight into buyer competition. While homes were selling at 97.6% of asking price last month, July saw that figure dip to 96%. Still, this is stronger than July 2023's 95.4%, suggesting that while buyers may be negotiating more, sellers remain in a relatively strong position. ANNAPOLIS waterfront July 2024 Month Over Month Year Over Year Average Price $1,585,887 $1,778,389 $ 1,799,282 Days on Market 51 32 49 Total Sales 31 29 27 List Price To Sales Price 96% 97.6% 95.4% let's look at the average property in each market in july '24 MARKET BEDS BATHS SQUARE FEET PPSF ANNAPOLIS LUXURY 4 4 4,131 $568.87 ANNAPOLIS WATERFRONT 4 3 3,278 $634.96 Top 10 Sold Listings Intrigued by the top 10 listings that set the real estate market abuzz in July? Here are some of the standout properties that resonated with buyers: Swipe right to see all of the top 10 sales. Explore these listings here to uncover more details about each sale. Top 10 New Listings The excitement doesn't end with the sold properties. Here are the top 10 new listings that made a grand entrance into the real estate arena, poised to capture the attention of eager house hunters: Don't miss out on the exclusive details of these new listings that have redefined the standard of modern living. In Conclusion The Greater Annapolis real estate market in Anne Arundel County thrives with diversity and opportunity, offering a tapestry of homes that cater to various preferences and lifestyles. Whether you seek the timeless allure of Annapolis or the serene beauty of Severna Park, there's a place for everyone in this vibrant market. Stay tuned for more insights, market updates, and captivating listings as we continue to navigate the ever-evolving real estate landscape. Remember, your dream home might just be a listing away! Embrace the allure of Anne Arundel County as we unveil the intriguing market report detailing the real estate highlights of July 2024 in Annapolis and its surrounding communities. Don't miss out on the thrilling opportunities and captivating properties waiting to be discovered!

The buzz in the real estate world continues to revolve around the captivating market trends of Queen Anne's County, Talbot County and Kent County for the month of July 2024. Let's delve into a comprehensive market report that uncovers the highlights of different regions within this vibrant market, offering insights into average square footage, pricing, total sales, and much more. Buckle up as we embark on this journey through the real estate landscape of Maryland's vibrant Eastern Shore. Exploring Market Metrics The Eastern Shore luxury market—covering Queen Anne’s, Talbot, and Kent Counties—saw some interesting movements in July 2024. Average prices  dipped to $1,768,750, down from $2,028,048 in June. However, compared to July 2023, prices are still up by 9.1%, reflecting ongoing strength in the market. Days on market  for luxury homes averaged 46 days, an increase from last month’s 32 days, though the same as July last year. Homes are taking a bit longer to sell compared to June, suggesting a slight slowdown in the pace of transactions. Despite this, total sales  remained solid, with 16 properties sold in July. While that’s fewer than the 25 sold last month, it’s still an improvement over the 14 sales recorded this time last year. Lastly, the list price to sales price ratio —a key measure of how close homes sell to their asking prices—came in at 94%. This marks a drop from June’s impressive 100.5%, but it’s still consistent with last year’s figure of 94.6%, showing that while buyers are negotiating a bit more, sellers are still getting close to their asking prices. EASTERN SHORE LUXURY July 2024 Month Over Month Year Over Year Average Price $1,768,750 $2,028,048 $ 1,621,447 Days on Market 46 32 32 Total Sales 16 25 14 List Price To Sales Price 94% 100.5% 94.6% The Eastern Shore waterfront market is showing some notable changes this month. Average prices  have dropped to $1,276,614 from $1,685,820 in June, marking a significant month-over-month decline. However, when compared to July 2023, prices are still up by 14.8%, showing long-term appreciation and resilience in the waterfront market. Days on market  have increased to 44, up from 32 days last month and 31 days a year ago. Homes are taking longer to sell, which could be a sign of buyers taking more time or a slight cooling in market activity. In terms of sales volume , 22 homes sold this July, down from 30 in June. Still, sales are slightly higher compared to the same time last year, with 20 homes sold in July 2023, indicating that demand for waterfront properties remains solid. The list price to sales price ratio  dropped to 94.8% this month, a decrease from June's 100.6%. However, it’s still very close to the 94.6% seen in July 2023, meaning that while sellers are seeing some price negotiation, the overall market remains competitive. EASTERN SHORE waterfront July 2024 Month Over Month Year Over Year Average Price $1,276,614 $1,685,820 $ 1,112,388 Days on Market 44 32 31 Total Sales 22 30 20 List Price To Sales Price 94.8% 100.6% 94.6% let's look at the average property in each market in july '24 MARKET BEDS BATHS SQUARE FEET PPSF EASTERN SHORE LUXURY 4 4 3,779 $ 523.72 EASTERN SHORE WATERFRONT 4 3 2,736 $ 488.45 Top 10 Sold Listings Intrigued by the top 10 listings that set the real estate market abuzz in July? Here are some of the standout properties that resonated with buyers: Swipe right to see all of the top 10 sales . Explore these listings here to uncover more details about each sale. Top 10 New Listings The excitement doesn't end with the sold properties. Here are the top 10 new listings that made a grand entrance into the real estate arena, poised to capture the attention of eager house hunters: Don't miss out on the exclusive details of these new listings that have redefined the standard of modern living. In Conclusion Overall, both the luxury and waterfront markets on the Eastern Shore are experiencing some notable shifts as we move through July 2024. While prices in both sectors have softened compared to last month, the year-over-year figures reflect steady appreciation, showing the long-term value of these desirable properties. Homes are taking a bit longer to sell, and sellers are adjusting their expectations slightly, but demand remains consistent, with sales activity up in several key areas compared to last year. As the Eastern Shore real estate market continues to evolve, buyers and sellers should stay mindful of pricing trends and be prepared for negotiations. Though we’re seeing some cooling from the rapid pace earlier in the year, the overall market remains competitive, especially in sought-after waterfront areas.

The real estate spotlight is shining brightly on the Greater Baltimore region, encompassing Baltimore City, Baltimore County, and Howard County, as the luxury market trends for July 2024 unfold. In this comprehensive market report, we’ll explore key highlights, including average pricing, total sales, days on market, and much more. Join us as we dive into the latest data and gain insights into the dynamic luxury real estate landscape in one of Maryland's most sought-after regions. Exploring Market Metrics The luxury market in the Greater Baltimore region, defined by sales of $1M and above, continues to demonstrate strong demand and resilient pricing. Average prices  held steady in July, coming in at $1,361,849, down slightly from June’s $1,383,468 but still above the $1,310,213 mark seen in July 2023. This steady growth reflects ongoing strength in the region's high-end market. Homes are moving faster than ever , with the days on market  dropping to just 17 days, compared to 27 days in June and 24 days in July of last year. This suggests that luxury buyers are acting quickly, likely driven by competitive offers and limited inventory. Sales volume  remains robust, with 80 transactions in July, down from 92 in June but significantly higher than the 58 luxury sales seen this time last year. This increase in year-over-year sales shows that demand for high-end properties in Baltimore City, Baltimore County, and Howard County remains strong despite some monthly fluctuations. A key indicator of market competitiveness, the list price to sales price ratio , stood at 100.5% in July. While this is slightly lower than June's 101.7%, it’s still a strong number and represents an improvement over the 99.7% ratio in July 2023. This means many luxury properties are still selling at or above their asking prices, reflecting the overall health and competitiveness of the luxury market. greater baltimore luxury July 2024 june 2024 july 2023 Average Price $1,361,849 $1,383,468 $1,310,213 Days on Market 17 27 24 Total Sales 80 92 58 List Price To Sales Price 100.5% 101.7% 99.7% The Greater Baltimore waterfront market, which includes some of the region's most coveted properties, has seen significant shifts this month. Average prices  fell to $611,093 in July, down from $758,595 in June, signaling a notable month-over-month decline. However, compared to July 2023, when the average price was $598,413, prices are still up slightly, showing long-term resilience. Homes are selling faster than ever  along the waterfront, with the days on market  dropping dramatically to just 18 days, compared to 54 days last month and 29 days in July 2023. This sharp decrease reflects increased buyer urgency and a competitive market for waterfront properties. The total number of sales  has also decreased, with 15 properties sold in July, down from 22 in June and 24 in July 2023. This could indicate that while demand remains strong, fewer properties are available, or buyers are waiting for more attractive pricing. The list price to sales price ratio  came in at 96.4% for July, a significant drop from the 102.9% seen in June but consistent with July 2023's 96.2%. This suggests that buyers are gaining more negotiation power, and sellers are adjusting expectations in light of changing market conditions. greater baltimore WATERFRONT July 2024 JUNE 2024 JULY 2023 Average Price $611,093 $758,595 $598,413 Days on Market 18 54 29 Total Sales 15 22 24 List Price To Sales Price 96.4% 102.9 % 96.2 % let's look at the average property in each market in july '24 MARKET BEDS BATHS SQUARE FEET PPSF GREATER BALTIMORE LUXURY 5 5 5,424 $ 333.90 GREATER BALTIMORE WATERFRONT 3 3 2,179 $308.77 Top 10 Sold Listings Intrigued by the top 10 listings that set the real estate market abuzz in July? Here are some of the standout properties that resonated with buyers: Swipe right to see all of the top 10 sales . Explore these listings here to uncover more details about each sale. Top 10 New Listings The excitement doesn't end with the sold properties. Here are the top 10 new listings that made a grand entrance into the real estate arena, poised to capture the attention of eager house hunters: Don't miss out on the exclusive details of these new listings that have redefined the standard of modern living. In Conclusion The Greater Baltimore real estate market, both in the luxury and waterfront segments, is showing signs of resilience amidst shifting dynamics. In the luxury market, prices are holding steady, with strong sales volume and quick turnaround times, signaling continued demand for high-end properties. Buyers are acting swiftly, and properties are still commanding close to their list prices, despite slight softening. Meanwhile, the waterfront market tells a slightly different story. While prices have seen a significant month-over-month decline, homes are selling faster than before, and the year-over-year price growth remains positive. Sales have dipped, but the market remains competitive, with buyers negotiating more than they did last month. As we move forward, the luxury and waterfront markets in Greater Baltimore will continue to provide opportunities for both buyers and sellers. Keeping an eye on pricing trends, inventory levels, and the pace of sales will be crucial for understanding how these markets evolve in the months ahead.

An Overview Of Luxury and Waterfront Properties in MD. Discover the latest trends and insights from the waterfront and luxury real estate markets across Greater Annapolis, Greater Baltimore, the Eastern Shore of Maryland, and Southern Maryland. Our comprehensive market reports reveal pivotal data that can guide homeowners and prospective buyers through the nuances of these unique property sectors. Click the link here to download our comprehensive market report on March 2024's performances.

Many probably don't know but we have a special connection to our men and women in the armed forces. Our mission as a company (Compass) and as a group (The Housecats) is to serve, and what better place to do that than with those that have served us. The Compass Military Division is a group affiliated with COMPASS, a licensed real estate broker, servicing the distinctively different and ever-changing real estate needs of the Veterans and Active Military members via a national network of highly skilled and specially selected agents. Compass' Military Division is ever evolving but one thing remains the same - it's composed of Compass retired military agents, veterans, active duty members, military spouses, and agents with extensive VA transaction experience offering a premiere referral network for those relocating for their next assignment or retiring to their dream home. We are lucky enough to be connected to this special group of veterans and honored to serve those who have served us.