Core submarkets are still driving strong rent growth and record-low vacancies, but rising interest rates and construction costs are slowing new projects and moderating industrial rent gains.
– Annapolis retail rents reached $31.50 psf in Q1, up 22% YoY and a 5.6% CAGR since 2020.
– Annapolis retail vacancy tightened to a historic low of 2.0%.
– Anne Arundel industrial rents dipped 9.8% YoY but remain nearly 90% above 2020 levels.
– Mid‑Shore retail rents eased 5.5% YoY yet stand 13% above pre‑pandemic levels.
– Q1 sales volume totaled $388 M in Greater Annapolis; Anne Arundel led at $511 M, Mid‑Shore at $82 M.
