Maryland Homes Sales Fell 6.3%

ANNAPOLIS, MD—October 16, 2024—Housing sales in Maryland fell 5.9% in September 2024 to 5,341 units, versus 5,699 units sold in 2023, according to the Maryland REALTORS®’ September 2024 Housing Statistics. The average sales price rose 4.5% to $495,102, while the median sales price grew 4.1% to $415,800.

Units pending, houses under contract, grew 18.2%, and Days on Market—the number of days a house is available for sale before it moves off the market—grew to eleven days, 3 more days than in 2023.  Since the beginning of 2024, Months of Inventory has been growing steadily, from 1.4 months in January to 2.0 months in September. 

“The dramatic rise in houses under contract combined with growth in inventory, are welcome signs,” said Cheryl Abrams Davis, 2025 President, Maryland REALTORS®. “Add to that a favorable interest rate—the Freddie Mac 30-Year fixed mortgage rate stood at 6.32% as of October 10—and it spells good news for buyers and sellers wanting to enter the market.”

For those buyers and sellers looking at interest rates and housing, Davis suggested they spend time at MarylandHomeownership.com, Maryland REALTORS®’ consumer site dedicated to providing educational resources for buyers and sellers, to help them with their home journeys. “The toolkits and checklists can really help consumers to focus their efforts,” said Davis, “and content is continually added to make sure that consumers have the latest—and most reliable—information about buying or selling a home in Maryland.”