Maryland Real Estate Summary
The Maryland real estate market is in an upward trend, with no signs of slowing down. With its proximity to Washington DC and strong economy, Maryland relocations are increasing in popularity. Unemployment is down and many more jobs are opening in the government and technology sectors in the state. Tourism is also popular, and requires a large workforce in the hotels and restaurants across the state.
Annapolis real estate is selling quickly and at a high price. The average sale price is $315,000, which is up between 5 and 10% from last year. Houses are normally on the market for less than 30 days, and getting multiple offers, some over asking price, is not unusual. There are many more buyers than sellers in the market, and a limited supply of houses in every price range.
Columbia real estate is also in an increasing market right now. Houses are selling for an average of $325,000, which is up over 10% from one year ago. Houses are staying on the market between 30 and 60 days, before being sold for 95-100% of the asking price. The market is growing with buyers and not enough sellers to meet the demand.
