Is Anne Arundel County, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Anne Arundel County has remained a Seller's Market.
Key Takeaway
Anne Arundel County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Anne Arundel County, MD
How much do homes in Anne Arundel County, MD cost?
Median Sold Price
$484,642
$249/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Anne Arundel County have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Anne Arundel County was $484,642 in May 2024, up 7.7% from last year, and the median price per square foot was $249.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $265K | $298K | +12.5% |
| 2 Bedrooms | $325K | $343.3K | +5.6% |
| 3 Bedrooms | $410K | $440K | +7.3% |
| 4 Bedrooms | $562.7K | $599.8K | +6.6% |
| 5+ Bedrooms | $744.5K | $800.7K | +7.5% |
Summary: Anne Arundel County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 7.5%.
Median Sold Price Compared To Nearby Counties
| Calvert County | $415K | $450K | +8.4% |
| Anne Arundel County | $449.9K | $484.6K | +7.7% |
| Baltimore County | $319.3K | $339.7K | +6.4% |
| Prince George's County | $400K | $424.7K | +6.2% |
| Howard County | $524.8K | $550.9K | +5.0% |
Housing Supply in Anne Arundel County, MD
How many homes are available in Anne Arundel County, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,655 | 1,927 | +16.4% |
Summary: The Anne Arundel County real estate market had 1,927 homes for sale in May 2024, a 16.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 18 | 17 | -5.6% |
| 2 Bedrooms | 226 | 262 | +15.9% |
| 3 Bedrooms | 647 | 755 | +16.7% |
| 4 Bedrooms | 563 | 626 | +11.2% |
| 5+ Bedrooms | 201 | 267 | +32.8% |
Summary: The Anne Arundel County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.6%, 2 bedroom homes increased by 15.9%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 32.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 464 | 443 | -4.5% |
Asking Price vs. Sold Price
95 Homes Were Sold
Under Asking
114 Homes Were Sold
At Asking
234 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Anne Arundel County, you could pay more than the asking price. 52.8% of homes here sold above asking price last month.
Summary: A total of 443 homes were sold or pending in Anne Arundel County in May 2024, down by 4.5% month-over-month. Of the 443 sold homes, 21% were sold under asking, 26% were sold at asking, and 53% were sold over asking.
Days on Market for Anne Arundel County, MD
How long does it take to sell a home in Anne Arundel County, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 16 Days | +6.8% |
Summary: Homes in Anne Arundel County had an average of 16 days on market in May 2024, up by 6.8% compared to last year.
Breakdown of Home Sale Times
386 Homes Were Sold
Under 30 Days
42 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Anne Arundel County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 443 homes were sold in Anne Arundel County; 87% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
