PRINCE GEORGE'S COUNTY, MARYLAND REAL ESTATE TREND INDICATOR
If you are planning to purchase or sell a home in Prince George's County, you will want to know what is going on in the market. The following report is for January and the statistics are compared with the same month last year. During the month, there were 1,364 new listings and 515 new pending contracts. The sold dollar volume was down 13.7% from last year. The median sold price was $233,000. The number of homes sold was 306 as compared with 291 last year. The average days on the market was 158 days as compared to 131 days last year. The average sale price was 84.76% of the average list price. The market is still soft which means that it favors buyers. Foreclosures and short sales listings still influence the area market. Buyers are finding it more difficult to qualify for mortgage financing and the trend is to the use of FHA financing which is attractive for most of the buyers. First time buyers have the benefit of the currently available federal tax credit. Investors are buying in the area because the prices on lender owned foreclosures are the lowest in several years. Investors should be aware of new underwriting guidelines that restrict the number of financed properties.
Roy Kelley, Associate Broker, RE/MAX Realty Group
Home Search Website: www.roykelley.com
Email: roykelley@mris.com; Client Assistance: 301-670-8996
Prince Georges County, MD
From: 01/01/2009 to 01/31/2009 Statistics generated on: 02/06/2009
| Residential Unit Sales Number of Bedrooms |
Active Listings | Time on Market | ||||||||
| Price Class | 2 Or Less |
3 |
4 or More |
Condo Coop |
Ground Rent |
Residential | Condo Coop |
Ground Rent |
of Units Sold (No. of Units) |
|
| Under $100,000 | 3 | 7 | 5 | 7 | 0 | 132 | 98 | 6 | 1 -30 Days | 43 |
| $100,000 - 149,999 | 1 | 7 | 7 | 5 | 0 | 347 | 182 | 0 | 31-60 Days | 29 |
| $150,000 - 199,999 | 5 | 20 | 15 | 9 | 0 | 922 | 238 | 3 | 61 - 90 Days | 34 |
| $200,000 - 249,999 | 5 | 30 | 45 | 4 | 0 | 1183 | 150 | 1 | 91-120 Days | 26 |
| $250,000 - 299,999 | 3 | 18 | 31 | 1 | 0 | 1183 | 83 | 1 | Over 120 Days | 174 |
| $300,000 - 349,999 | 0 | 3 | 25 | 0 | 0 | 708 | 10 | 1 | Total | 306 |
| $350,000 - 399,999 | 0 | 3 | 18 | 0 | 0 | 560 | 2 | 0 | ||
| $400,000 - 449,999 | 0 | 1 | 11 | 0 | 0 | 303 | 0 | 0 | Type of Financing of Units Sold (No. of Units) |
|
| $450,000 - 499,999 | 0 | 0 | 11 | 0 | 0 | 241 | 2 | 0 | ||
| $500,000 - 599,999 | 0 | 1 | 3 | 0 | 0 | 235 | 3 | 1 | Conventional | 61 |
| $600,000 - 699,999 | 0 | 0 | 0 | 0 | 0 | 118 | 0 | 0 | FHA | 177 |
| $700,000 - 799,999 | 0 | 0 | 2 | 0 | 0 | 65 | 0 | 0 | VA | 23 |
| $800,000 - 899,999 | 0 | 0 | 0 | 0 | 0 | 54 | 0 | 0 | Assumption | 18 |
| $900,000 - 999,999 | 0 | 0 | 0 | 0 | 0 | 26 | 0 | 0 | Cash | 24 |
| $1,000,000 - 2,499,999 | 0 | 0 | 0 | 0 | 0 | 37 | 0 | 0 | Owner Finance | 0 |
| $2,500,000 - 4,999,999 | 0 | 0 | 0 | 0 | 0 | 20 | 0 | 0 | All Other | 3 |
| $5,000,000 & Over | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | Unreported | 0 |
| Totals | 17 | 90 | 173 | 26 | 0 | 6135 | 768 | 13 | Total | 306 |
| Grand Totals | 306 | 6916 |
|
|
Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2009 - Information deemed reliable, but is not guaranteed.
Please contact us with your questions on the residential real estate market.
We represent home buyers and sellers as their exclusive agents in the Maryland suburbs of Washington DC.
Roy Kelley
Roy Kelley & Associates
Associate Broker, RE/MAX Realty Group
Client Assistance: 301-670-8996
Recipient of the RE/MAX International Lifetime Achievement Award - 2008
