ANNAPOLIS, Md. — Housing sales in Maryland grew 7.5% in October 2024 to 5,762 units, versus 5,359 units sold in 2023, according to the Maryland REALTORS®’ October 2024 Housing Statistics. The average sales price rose 8.8% to $507,408, while the median sales price grew 6.3% to $425,000.
Top county performers include Queen Anne’s County, where sales grew 64.3%, and Carroll County, with a 45.1% increase in sales. The two counties witnessing the largest increases in the average sales price were Allegany County (37.7%) and Somerset County (32.8%).
Statewide, units pending (houses under contract) grew 15.9%, and Days on Market—the number of days a house is available for sale before it moves off the market—grew to thirteen days, 3 more days than in 2023.
“Our current inventory of available homes stands at 2.1 months,” said Cheryl Abrams Davis, 2025 President, Maryland REALTORS®. “Knowing that in a balanced market we’d see about 6 months of inventory, we still have a way to go. All the same, seeing October sales in the positive range means more homes are being sold. Every home sold in Maryland has an economic impact of $126,800, which contributes to the vitality of every community in Maryland.
For consumers wanting to understand best practices for buying or selling a home, Davis suggested they visit MarylandHomeownership.com, Maryland REALTORS®’ consumer site dedicated to providing educational resources for buyers and sellers, to help them with their home journeys.
Must be nice to be rich and buy a home in Maryland