We may be a bit biased, but the capital of Maryland has always been one of the most desirable communities in the state. Annapolis is a wonderful place to live, work, and raise a family. Annapolis is diverse in its culture, history, and activities. There are job opportunities in and around the city including government positions less than 20 minutes away.
Living here you become enveloped in the city’s rich history. The street plan hasn’t changed much since the city’s inception in the 1600s and provides a charming and dramatic backdrop to sites like the Maryland State House and the Chesapeake Bay.
The United States Naval Academy
Annapolis features impressive brick mansions built for some of the nation’s founding fathers and rows of simple wood-frame dwellings. Spending time on the water is a favorite pastime of local residents while boats of all shapes and sizes are tied up at the City Dock, which is surrounded by colonial-era taverns that have been fully restored and modernized.
Most people recognize the name Annapolis because it is home to the United States Naval Academy. The academy was founded in 1845 on 10 acres known as Fort Severn. Five years later the school was renamed to the United States Naval Academy. It has since grown to hold thousands of midshipmen on 338 acres.
For those moving to Annapolis, a wealth of activities and amenities are available. The capital of Maryland offers something for everyone. Being located on the Chesapeake Bay provides local residents with an endless amount of water activities to participate in. There are local sailmakers, boat architects, and watermen who fish and crab for a living.
Annapolis Real Estate Market
Annapolis offers many historic and beautiful waterfront homes for sale. People who are considering their next waterfront home in Annapolis have plenty of questions regarding the real estate market. Buyers that understand the housing market will have an easier time knowing what to expect as they begin their search for a waterfront home.
As of 2020, the market has been strong for buyers and renters. According to Trulia,
- Homes listed for sale get multiple offers.
- Average homes sell for about 1% below list price and go pending in around 36 days.
- Hot Homes can sell for about 1% above list price and go pending in around 15 days. In August of 2019, the median sale price for Annapolis homes was $470,000. August 2020 sees the median sale price of $535,000, an increase of 14% or $65,000 compared to last year.
- There was a decrease in total units sold in August 2020. The month’s total units sold was higher than at the same time in 2019.
- Versus last year, the total number of homes available this month is lower by 221 units or 52%. The total number of active inventory this August was 202 compared to 423 in August 2019. This month’s total of 202 is lower than the previous month’s total supply of available inventory of 247, a decrease of 18%.
- There were 1.3 months of supply available in Annapolis, compared to 3.7 in August 2019. That is a decrease of 65% versus a year ago. Months of supply is calculated by dividing the current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
Understanding the current real estate market for Annapolis waterfront homes can be overwhelming. Stahley Thompson Homes can show you new waterfront homes for sale in Annapolis and Anne Arundel County virtually, and in-person.
The housing market is holding steady as the city continues to grow in popularity. Come see all that Annapolis, Maryland has to offer, and let us help find you the waterfront home of your dreams.
Stahley Thompson Homes is your premier choice for Annapolis luxury Real Estate. Being partnered with TTR Sotheby’s International Realty®, our Annapolis Luxury Real Estate Agents team is accomplished and respected real estate specialists who work hard to serve our client’s best interests. Our goal is to provide you the world-class service and property exposure you expect when working with TTR Sotheby’s International Realty®.