Maryland’s real estate market presents a complex landscape marked by rising home prices, increasing inventory, and evolving regional dynamics. Here’s an in-depth overview:
🏠 Statewide Market Overview
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Median Sale Price: In April 2025, Maryland’s median home sale price rose to $435,000, a 4.8% increase year-over-year.
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Average Sale Price: The average sale price reached $520,712, up 4.1% from April 2024.
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Home Sales Volume: A total of 5,692 homes were sold in April 2025, marking a 7.0% decline compared to the same month in 2024.
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Median Days on Market: Homes spent a median of 30 days on the market in April 2025.
📊 Market Dynamics
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Inventory Levels: There were 19,996 homes for sale in Maryland in April 2025, a 16.9% increase year-over-year. New listings totaled 8,245, up 7.8% from the previous year.
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Months of Supply: The market had an average of 2 months of supply, indicating a seller-favorable environment.
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Sale-to-List Price Ratio: Homes sold for approximately 100.7% of their list price, suggesting that properties are generally selling at or above asking prices.
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Price Adjustments: About 29.4% of homes experienced price drops, up from 25.0% the previous year, indicating increased price sensitivity among buyers.
🌆 Regional Highlights
Baltimore Metro Area
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Home Demand Index: The Baltimore home demand index for May 2025 is 93, up five points from the previous month, indicating a steady demand.
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Condominiums: Condos priced below $409,000 rose to the “High” demand range at 133, up from 129 the previous month.
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Townhouses: Townhouses remained in the “Steady” demand category at 94, up from 93.
Southern Maryland
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Average Sale Price: The average sales price for the region was $470,518 in April 2025, up from $445,000 in March.
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County Breakdown:
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Calvert County: Average sales price of $511,328 with an average of 28 days on the market.
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Charles County: Average sales price of $475,725 with an average of 31 days on the market.
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St. Mary’s County: Average sales price of $435,388 with an average of 29 days on the market.
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Prince George’s County: Average sales price of $469,292 with an average of 29 days on the market.
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🔮 Market Outlook
The Maryland housing market is expected to continue its current trajectory through the remainder of 2025. While home prices are rising, the increase in inventory provides more options for buyers. However, affordability remains a concern, especially with the state’s median sale price being 23.2% higher than the national average. Potential economic factors, such as federal workforce reductions, could also impact the market dynamics.
📝 Conclusion
Maryland’s real estate market in 2025 is characterized by rising home prices, increased inventory, and regional variations in demand. Buyers may find more opportunities due to the growing inventory, while sellers can benefit from the continued price appreciation. Staying informed about local market trends and economic factors will be crucial for making strategic real estate decisions in the current landscape.