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 rebounded from a slower October to post gains across all segments except All Pendings. Closed Sales are up almost 20% from the same time last year and inventory as Active Listings grew over last month, but still down compared to a year ago.
2. Median Sold Price – Increases in the Median Sold Price across all segments fueled the real estate market in Prince George’s County in October. Attached All posted the strongest gains with a 29.5% increase over the same time last year.
3. Average Days on Market – The ADOM for Prince George’s County jumped 12 days across all segments last month. While a fairly large jump for a single month, the ADOM is still 54 days which represents 20% improvement over the same time last year.
4. Average Sold to Original List Price Ratio – The ASOLP Ratio is very robust for Prince George’s County reflecting the DC Metro’s real estate relative strength. Down a percentage point from September, it settled at 97.6% across all segments which is a 4.3% increase over the same time last year.
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?