There are many excellent luxury waterfront homes for sale in Annapolis Maryland as the dog days of the Summer of 2012 approach. Above one million dollars buyers have the choice of eighty-plus homes from which to choose. Many of these waterfront homes have been extensively updated to reflect the refined tastes of discerning buyers with updated amenities, as well as, facade face lifts. Luxury waterfront homes are located along the Chesapeake Bay, the South River, the Severn River, and the smaller creeks and inlets found along the Annapolis shoreline.
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Waterfront homes often have stunning deep vistas, such as the one below. This view is from a home located on the South River. The house itself is perched high up on the shoreline cliffs with nearly a 180-degree view of the South River from the Solomons Island Road Bridge (Rt. 2 North and South) to nearly the Riva Road Bridge. The fixed bridge south of this home on the river is not sailboat friendly with a vertical clearance of only 53 feet according the detailed chart from NOAA, so most powerboats should be fine up the river to the Riva Road Bridge where skippers will find a vertical clearance of only 25 feet.
As of July 28, 2012, the average luxury waterfront home on the market in Annapolis Maryland today has four bedrooms and four bathrooms and is situated on about 3.76 acres. The average asking price of homes actively for sale is $2,183,787, with a minium asking price of $1,049,900 and the maximum asking price of $9,995,000.
As we approach the close of July 2012, there are 14 waterfront homes under contract in Annapolis Maryland. The average asking price is $2,221,600, with a minimum asking price of $1,049,000 and a maximum asking price of $6,495,000. These home were on the market for an average of 257 days. They generally have four bedrooms and five bathrooms and were build on aveage in 1981 sited on 1.72 acres.
And in the last 90 days, there were 26 homes sold with an average asking price of $1,800,212, a minium asking price of $1,095,000 and a maximum asking price of $5,450,000. These homes typically had four bedrooms and four bathrooms, where built on average in 1975, and were sited on a average lot size of 0.79 acres. They were on the market for an average of 140 days.
The aveage sold price for those 26 homes was $1,661,250, with a minimum sold price of $1,010,000 and a maximum sold price of $4,850,000 for an 87.99% discount off their original asking price. With about 8.6 Annapolis waterfront homes priced over $1,000,000 selling every month, Annapolis has nearly an eleven month supply of homes inventory. Generally, when inventory levels are below six months, that is considered a seller’s market. When inventory levels are above six months, that is considered a buyer’s market. Current conditions would suggest that the luxury waterfront real estate market in Annapolis favors buyers and will for some time to come.
The map, above, show where luxury waterfront homes are currently for sale in Annapolis Maryland.