Important Update: Anne Arundel County Real Estate Trends for April 2023

These are the significant changes in the housing market in April 2023.

What happened to Anne Arundel County real estate last month? Today we’ll compare April 2023 numbers vs April 2022.

We’ve seen some significant changes last month. The number of units sold declined by 40.4%. The average sales price did appreciate but only .23%, while the average days on the market surged by nearly 92% to 23 days. New listings plummeted by 47.6%, marking the most substantial drop this year.

These statistics reveal an ongoing reduction in units sold and new listings. This month we see the most significant decline in new listings since the beginning of 2023. There is a slight rise in the average sales price, but the appreciation level has continued to decline and has begun to level off from the record appreciation levels we have experienced the last few years.

“Buyers who have been waiting may find now a suitable time to re-enter the market.”

When considering whether sales prices will decrease as the year progresses, it seems unlikely given the low inventory and existing demand.

For potential sellers, the numbers suggest it might be a good time to list. The trends indicate that the market could start to see flat or declining appreciation, therefore, it would be wise to consider selling now rather than trying to time the market.

Buyers, on the other hand, may find some relief from the extreme competitiveness of the previous year. While some areas still witness multiple offers, the intensity is much less than last year. Therefore, those who have been waiting may find now a suitable time to re-enter the market. We encourage you to share this insightful information with others who may find it beneficial.

Seller Intake Form



Recent Posts

The data relating to real estate for sale on this web site comes from MRIS. Listing information comes from various brokers who participate in the MRIS IDX. Properties listed with brokerage firms other than The Donnelly Group of Keller Williams Integrity are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers. The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified.