Wilson Realty Group continues our weekly series on local market statistics. This week we focus on Prince George’s County in the Maryland suburbs. Prince George’s County includes Waldorf, Accokeek, Aquasco, Brandywine, Cheltenham, Indian Head, Beltsville, Lanham, Laurel, Bladensburg, Mount Rainier, Bowie, Brentwood, Clinton, Riverdale, College Park, Capital Heights, Fairmount Heights, Fort Washington, Oxon Hill, Suitland, District Heights, Temple Hills, Glenn Dale, Greenbelt, Upper Marlboro, Hyattsville, Silver Spring and Takoma Park.
1. Market Activity – Prince George’s County remained virtually flat since January across all segments. The weather certainly played a tremendous role in slowing down the market in PG.
2. Median Sold Price – Increases in the Detached & Townhouse Sold Price segments fueled the real estate market in Prince George’s County in February. All segments combined to posted a strong gain of 25.1% increase over the same time last year.
3. Average Days on Market – The ADOM for Prince George’s County fell 8 days across all segments last month. At just 47 days, the ADOM for PG is the second lowest in 5 years days which represents 32.9% drop over the same time last year.
4. Average Sold to Original List Price Ratio – The ASOLP Ratio is at it’s second highets point in 5 years at 98.7%, very robust for Prince George’s County reflecting the DC Metro’s real estate relative strength.
Prince George’s County mimics the broader DC Metro Real Estate market in almost all categories. As we have seen the last couple of months, market volatility still exists and pressure from low inventory and unstable rates continues to affect the real estate market. With these pressures, it is even more imperative to keep as much money in your pocket as possible with your next move. Call Wilson Realty Group today at 202-642-5478 and find out how you can keep as much as 5.5% of the sales price in your pocket. Thousands of clients know our secret – will you be next?