Luxury Sales Decline Slightly in the Baltimore | Annapolis | Eastern Shore Regions in 2022

March 7, 2023

Long & Foster’s year-end market report details real estate trends

Across the Baltimore | Annapolis | Eastern Shore region, home sales declined 21% in 2022, as the pandemic-induced housing boom slowed, according to Long & Foster Real Estate’s year-end market report.

The sale of luxury homes (properties above $1M) saw a smaller decrease, down by only 4% year-over-year. While sales moderated, inventory rose—up over 5% for properties of all price points and just over 6% in the luxury segment—bringing us a more normalized environment than the past few years.

“Today’s market is complex and ever-changing, but it presents tremendous opportunities for both buyers and sellers,” said Larry “Boomer” Foster, president of Long & Foster Real Estate. “If you are looking for a real estate partner to help you navigate these conditions, choose Long & Foster.”

Working with the Long & Foster team, you’ll have everything and everyone you need to buy, sell, rent, invest and own a home. Real estate. Inspection. Mortgage. Insurance. Settlement. Moving. We built each of these businesses, so you enjoy a more streamlined, relaxed and exceptional real estate experience every time you work with us.

Long & Foster is your home for all things home, making it simpler and easier for you to buy, sell, rent, own and invest in real estate.

In addition to highlighting major trends in the Baltimore | Annapolis | Eastern Shore Region, the report spotlights individual neighborhoods. It also summarizes the local luxury market by the types of homes (for example, single family and townhomes) sold in individual neighborhoods, providing an in-depth analysis of the residential market. View the report in its entirety here.

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