The Annapolis, Maryland Housing Market Report

MARKET REPORT

The State of the Market

Due to its desirable waterfront location, its proximity to Washington, D.C. and Baltimore, Maryland, and its limited availability of raw land, Annapolis, Maryland has quickly become one of the Mid-Atlantic region’s most desirable housing markets.

The most expensive home sold in Annapolis, Maryland for the year ending 2024 was a custom waterfront residence on Melvin Road, one of the city’s most coveted addresses.

Originally built in 2019 by Joy Design + Build and acclaimed interior design firm Interior Concepts, the home features over 6,200 square feet of interior living space and spectacular views of the South River. The home sold for $8,200,000 in October 2024 after only 1 day on the market.

Further west, along Duvall Creek, an 8,100 square foot Georgian residence designed in 1997 by Purple Cherry Architects sold in January 2024 for $7,400,000.

“The Annapolis, Maryland housing market is among the most desirable in the Mid-Atlantic,” says Angela Healy, AIA, Principal Architect of Asta Architecture in Annapolis, Maryland.

For those seeking to purchase a detached single family home in Annapolis, Maryland, you can expect to pay an average of $450.77 per square foot and an average total sales price of $980,917. Single family homes in Annapolis, Maryland typically sell in 26 days.

For those seeking a new construction homes in Annapolis, Maryland, options are few and far between, with new construction representing only 4% of all residential home sales for the year ending 2024. The average sale prices for new construction detached single family homes was $1.20 Million and the average price per square foot was $468.90.

Among the oldest cities in the United States, raw land in Annapolis, Maryland is scarce, with only 21 land sales recorded for the year ending 2024 and an average price per acre of $695,200.

Of course, as one of the most desirable waterfront communities in the United States, land sales in Annapolis, Maryland include unique transactions such as two deep water slips in The Spa Creek Marina, which sold for $55,000 and $65,000 in June 2024.