01/21/2025
Sharing some rather important and telling Real Estate numbers and values.
2024 Home Sales in Our 5-Counties
2024 average home prices increase in 4 of the 5 Counties. In Maryland, the average home price was $495,60 and increase of 5.8% over 2023.
Caroline County's average home price in 2024 was $319,165 compared to 314,874 in 2023. A 1.36% increase.
Dorchester County's average home price in 2024 was $300,210. This is a 1.46% decrease compared to the $304,646 average price in 2023.
Kent County average home price for 2024 was $443,078, up 10.11% compared to the year-end average price in 2023.
Queen Anne’s County average home price in 2024 was $607,558, this is a 8.23% increase over 2023.
Talbot County's 2024 average home price was $856,997 showing a 8.55% increase compared to 2023.
Even with the low inventory and higher interest rates, there were more homes sold in 2024 in every county. A total of 2,641 homes were sold in the 5-County area. This is a increase of 7% or 175 more homes sold compared to 2023. Maryland homes sold in 2024 were 68,947 compared to 67,914 in 2023.
In Caroline County, 345 homes sold in 2024, this is 37 more homes compared to 2023.
Dorchester County had 544 homes sold in 2024, this is 5 more homes than in 2023.
Kent County sold 315 homes; this is 7 more than in 2023.
Queen Anne’s County had 869 homes sold in 2024, 64 more homes than in 2023.
In Talbot County, 568 homes were sold in 2024, this is 62 more homes than in 2023.
Days on Market. Overall it took only 6 more days on market to sell a home in 2024 compared to 2023. Maryland averaged 10 days on market for 2024, an increase of 1 day over 2023.
Homes in 2024 in Caroline County sold on average in 47 days, this is only 4 days fewer days than in 2023.
Dorchester County homes took 6 days longer to sell or 57 days on market in 2024 compared to 2023.
Kent County took 44 days on average to sell, this is 3 days longer than in 2023.
Queen Anne’s County 2024 homes sold in 36 days, 1 day longer than in 2023.
Talbot County homes sold on average in 41 days, same as in 2023.