The Long & Foster Market Minute

FOCUS ON: ANNAPOLIS HOUSING MARKET MAY 2024

Zip Code(s): 21401, 21403, 21402 and 21405
Units Sold
104
Active Inventory
134
Median Sale Price
$629,950
Days On Market
23
Down -9%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago
Up 21%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 104 sold this month in Annapolis Real Estate versus 98 last month, an increase of 6%. This month's total units sold was lower than at this time last year, a decrease of 9% versus May 2023.

Active Inventory
The total number of homes available this month is 134 units, which is similar compared to a year ago. This month's total of 134 is lower than the previous month's total supply of available inventory of 171, a decrease of 22%.

Median Sale Price
Last May, the median sale price for Annapolis Homes was $627,500. This May, the median sale price was $629,950, which is similar compared to a year ago. The current median sold price is 1% higher than in April.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
89
Current Contracts
113
Sold Vs. List Price
102.3%
Months of Supply
1.3
Down -24%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 9%
Vs. Year Ago

Months of Supply
In May, there was 1.3 months of supply available in Annapolis, compared to 1.2 in May 2023. That is an increase of 10% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 89 homes newly listed for sale in Annapolis compared to 117 in May 2023, a decrease of 24%. There were 113 current contracts pending sale this May compared to 109 a year ago. The number of current contracts is 4% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Annapolis was 102.3% of the average list price, which is 1.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 23, higher than the average last year, which was 19, an increase of 21%.

The Long & Foster Market Minute Annapolis are defined as properties listed in zip code/s 21401, 21403, 21402 and 21405.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.