Real estate trends in Maryland | Sellers | Buyers | Investors | The best and worst of Maryland | Maryland resources
Maryland real estate trends (May 2022)
How is the real estate market in Maryland? | |
|---|---|
🏠 Average home value: $399,498 | 📈 0.91% home value increase month over month |
💰 Median sale price: $444,300 | ⏳ 40 days on the market |
🔑 Homes on the market: 5,395 | 📆 0.5 months of housing inventory |
🏦 30-year mortgage rate: 2.92% | 💵 Average income: $57,918 |
State of the market: B | |
Home values and listing prices are nearly identical in Maryland, which could indicate that sellers aren't confident where the market’s going in the next few months. However, the minuscule amount of inventory should prop up demand for the near future. | |
*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% or $3K in listing fees. Eligible buyers get 0.5% 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 7 days faster than the annual average | 💰 Homes are selling for $6,859 more than the annual average |
💸 Average listing commission: 2.60% | 💸 Average buyer's commission: 2.50% |
How to sell a home in Maryland
- The Best Low Commission Real Estate Brokers
- Top Real Estate Agents in Maryland (June 2021 Rankings)
- 8 Steps to Selling a House in Maryland
- How to Sell a House By Owner in Maryland (2021 Update)
- 6 Best Maryland Flat-Fee MLS Companies in 2021
- 5 Maryland We Buy Houses for Cash Companies & Alternatives (2021 Rankings)
Cost to sell a home in Maryland
- What's The Average Maryland Real Estate Commission In 2021?
- Maryland Seller Closing Costs in 2021: How Much Will You Pay?
- The Ultimate Guide to Maryland Real Estate Taxes
Buying a home in Maryland
How much home you can buy with $300,000 in... | |
|---|---|
🏠 Baltimore: 1,508 sq ft | 🏡 Hagerstown: 1,796 sq ft |
🏡 Salisbury: 1,299 sq ft | 🏠 California: 1,571 sq ft |
- How to Save with a Home Buyer Rebate
- 8 Definitive Steps to Buying a House in Maryland
- The 5 Most Affordable Places to Live In Maryland
- The Best Time to Buy a House in Maryland
- Rent vs Buy in Maryland: Which Is Right for You?
- The Ultimate Guide for Moving to Maryland
Investing in Maryland real estate
- Top 5 Best Real Estate Investment Markets in Maryland
- How to Buy a Foreclosed Home in Maryland: An In-Depth Guide
- The Ultimate Guide to Flipping Houses in Maryland
- A Beginner's Guide to Buying an Apartment Building
Best of Maryland
Each month, we compare cities in Maryland based on different criteria. This month, we're looking at affordability and ranking the best cities in the state.
Most Affordable Cities in Maryland |
|---|
1. Cumberland |
2. Hagerstown-Martinsburg |
3. California-Lexington Park |
Ready to buy a home in Maryland? Eligible buyers get cash back with Clever!
Worst of Maryland
Each month, we compare cities in Maryland based on a different criteria. This month we're looking at affordability data. These are the cities that ranked the worst in the state.
Least Affordable Cities in Maryland |
|---|
1. Annapolis |
2. Salisbury |
3. Baltimore-Columbia-Towson |
Maryland resources
- Maryland Real Estate Commission
- Maryland's real estate license verification
- Maryland's real estate agent code of conduct
- Maryland's disclosure forms
- Transfer taxes in Maryland
- Home buying assistance programs in Maryland
Frequently asked questions about Maryland real estate
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.
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.
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, S&P Global, 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.