Maryland started 2024 with a total of 3,967 single-family homes on the market, with a median home price of $479,000 and an average price per square foot of $243.95. By the end of the year, inventory had increased to 4,723 homes on the market (+19%), with a median home price of $499,000 (+4%), and an average price per square foot of $256 (+5%).
At the start of 2024, the median days on market (DOM) was 56 days – by the end of the year, median DOM had increased to 70 days.
Maryland started the year with 30.50% of homes taking a price cut. (For reference, 35% is the national average for price reductions in a "normal" year.) By the end of the year, about 34.87% of homes for sale had taken a price cut.
