Maryland Real Estate Market: Forecasts + Trends

By Clever Real Estate Updated February 20, 2023

Maryland real estate trends

Maryland real estate trends (May 2022)

How is the real estate market in Maryland?
🏠 Average home value: $406,843	📈 0.25% home value increase month over month
💰 Median sale price: $479,800	⏳ 40 days on the market
🔑 Homes on the market: 7,226	📆 1.02 months of housing inventory
🏦 30-year mortgage rate: 7.05%	💵 Average income: $87,063
State of the market: B
Home values in Maryland are trending upward — with sales prices higher than home values. And given that inventory is still slim, the state may see a slowly heating market.
_{Data last updated May 2022}*

Maryland is a small, coastal mid-Atlantic state — but residents know its unique culture has a lot to offer.

Boating, watersports, and crab feasts with plenty of Old Bay seasoning are all quintessential aspects of life in Maryland. The state's biggest city, Baltimore, is home to Brewer's Hill, an important setting for beer history including the origin of National Bohemian and the current home of Guinness's only stateside brewery.

Beyond Baltimore, Maryland's biggest cities encompass Ocean City's lively Boardwalk, Frederick's historic C&O Canal, Bethesda's posh neighborhoods, and more.

If you're thinking of buying or selling in Maryland, these Maryland housing predictions and stats can help you make an informed decision.

Want to save money when you buy or sell your home? With Clever, you'll only pay 1.5% or $3K in listing fees. Eligible buyers get cash back after closing. Find out how much you can save with Clever today!

Selling a home in Maryland

Maryland real estate market forecast for sellers
⏰ Homes are selling 4 days faster than the annual average	💰 Homes are selling for $17,417 less than the annual average
💸 Average listing commission: 2.76%	💸 Average buyer's commission: 2.58%

How to sell a home in Maryland

Cost to sell a home in Maryland

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Buying a home in Maryland

How much home you can buy with $300,000 in...
🏠 Baltimore: 1,429 sq ft	🏡 Hagerstown: 1,613 sq ft
🏡 Salisbury: 1,132 sq ft	🏠 California: 649 sq ft

Investing in Maryland real estate

Best of Maryland

Each month, we compare locations in Maryland based on different criteria. This month, we're looking at levels of happiness and ranking the best counties in the state.

Happiest Counties in Maryland
1. Montgomery County
2. Howard County
3. Prince George's County
4. Anne Arundel County
5. Harford County

Ready to buy a home in Maryland? Eligible buyers get cash back with Clever!

Worst of Maryland

Each month, we compare locations in Maryland based on a different criteria. This month we're looking at levels of happiness data. These are the counties that ranked the worst in the state.

Least Happy Counties in Maryland
1. Somerset County
2. Worcester County
3. Kent County
4. Allegany County
5. Caroline County

Maryland resources

👋 Next Steps: Talk to an expert

If you're weighing your options for buying or selling a house, Clever can help!

Our fully licensed concierge team can answer your questions and provide objective advice on getting the best outcome with your sale or purchase.

When you enter your info below, we'll ask you a few questions about your situation via a short form. Then our concierge team will be in touch shortly to help.

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Frequently asked questions about Maryland real estate

Is it a buyer's or seller's market in Maryland?

Currently, it is a neutral market in Maryland, with most homes selling at or slightly below their value. However, inventory in the state is limited, which can possibly drive up prices in the near future. As such, it’s best to consult with a local real estate agent before anything else.

Is Maryland a good state to invest in real estate?

Maryland is a good state to invest in real estate, especially in a densely populated city like Baltimore, where housing is always in demand. However, investing requires proper preparation so you'll need to do research on what types of properties to buy and create a property management plan. Learn more in our guide to investing in real estate.

Is it a good time to buy a house in Maryland?

For some buyers, it could be a great time to buy a house in Maryland right now. Sales prices are decreasing, and low mortgage rates make for a very good deal. However, the low inventory can cause prices to surge sometime soon — which is why it’s best to work with a real estate agent to help you out.

Methodology

Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.

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