Annapolis/Baltimore area is in Redfin’s top 10 Best Cities for Boaters, beating Chicago, Seattle and Austin, Texas. However, it’s the most expensive to buy a waterfront home.
Redfin points out that there are just not as many waterfront homes in Annapolis compared to other cities on the list, and that drives the price up.
“The median sale price of homes that aren’t on the waterfront is $242,115,” according to Redfin, “but that number jumps to $629,900 for homes on the water — representing a 160 percent home price premium, the most of any city on the list.”
Redfin includes in the Annapolis region the entire waterfront north to Baltimore and south to the Rhode River. The areas with the most waterfront property: Grasonville, Chester and Stevensville on Kent Island — all considered part of the Annapolis ‘metropolitan area’.
While the median price is high compared to other boating communities, the range of prices varies greatly.
“From the posh waterfront condos in Baltimore’s inner harbor, cliff-side homes along the Severn River, neighborhoods with community boat slips around Annapolis and quaint fishing towns on Kent Island, there are homes for sale at a variety of price points,” said Kim Dixson, a Redfin real estate agent in Annapolis.
Annapolis is #7 on the Redfin list.
The top two areas on the Best Cities for Boaters are Tampa (#2) and South Florida (#1). The median sale price of a waterfront home in the Miami, Fort Lauderdale and West Palm Beach area is $295,500.
Ranking third — Minneapolis. The homes are more expensive than Florida and the boating season is a lot shorter (four months vs. year-round), even so Minneapolis has four-times the number of boats compared to the same number of residents in the Florida communities, one boat for every six people.
Why? It’s the Land of 10,000 Lakes.