Anne Arundel County Market Report: December 2023 vs. December 2024

1. Median List Price

December 2023: $451,500
December 2024: $487,250
Difference: Increased by $35,750 (+7.9%).
Analysis: The significant rise in list prices demonstrated heightened seller confidence and market appreciation heading into the new year.

2. Median Sold Price

December 2023: $445,365
December 2024: $485,000
Difference: Increased by $39,635 (+8.9%).
Analysis: The increase in sold prices confirmed strong buyer demand, with buyers willing to pay more as home values rose.

3. Days on Market (DOM)

December 2023: 25 days
December 2024: 26 days
Difference: Increased by 1 day (+4%).
Analysis: The slight increase in market time indicated a balanced market where buyers had a little more time to make decisions while still facing competitive conditions.

4. Number of Homes That Went Pending vs. Sold

Pending Homes:
December 2023: 370
December 2024: 416
Difference: Increased by 46 homes (+12.4%).

Sold Homes:
December 2023: 513
December 2024: 605
Difference: Increased by 92 homes (+17.9%).
Analysis: The sharp rise in both pending and sold transactions showed heightened buyer activity during December 2024, likely driven by confidence in the market and favorable conditions for completing year-end transactions.

Summary

December 2024 was a stronger month compared to December 2023, with significant increases in both list and sold prices, reflecting a clear upward trend in market values. Homes continued to sell quickly, with only a slight increase in days on the market, while both pending and completed sales rose substantially. These trends confirmed a robust and active market, benefiting both sellers looking to capitalize on rising prices and buyers motivated to secure properties in a competitive environment.