Prince Georges County Home Sales

2009

2008

Total Sold Dollar Volume:

$ 147,728,458

$ 127,886,104

15.52 %

Average Sold Price:

$ 231,549

$ 297,410

– 22.14 %

Median Sold Price:

$ 216,500

$ 280,000

– 22.68 %

Total Units Sold:

638

430

48.37 %

Average Days on Market:

133

132

0.76 %

Average List Price for Solds:

$ 262,137

$ 330,870

– 20.77 %

Avg Sale Price as a percentage of Avg List Price:

88.33 %

89.89 %

As you can see from the numbers above, there are some significant changes in Maryland real estate’s Prince Georges County since last August.

The total dollar volumn of home is up just over 15%.  The number of homes sold increased from 430 to 638 for a whopping increase of 48.37%.  Lower prices, government incentives and low interest rates helped to increase the number of homes sold.

These numbers were helped greatly by the declining home values in Prince Georges County Maryland.  The average sold price for a home in Prince Georges dropped over 22% to $231,549 from last August.  The median sold price dropped over 22% as well since last August to $216,500.

Now is the time to buy Maryland real estate.  This correction will not go on forever.