PG County Real Estate

In February, Prince Georges County and most other Maryland counties, as well as their counterparts in DC and Virginia, started out the month knee deep in crippling snow. While other markets showed low activity levels in February, the DC area showed encouraging news on the housing front.

Go figure!

In Prince Georges County, dollar volume ($93.3 million) was up by 36.3% over last year at the time, while the number of units sold jumped by 61%.  Homes were on the market 102 days, 28% less time than last year.  While median prices dropped 15.9% to $185,000, the average sales prices were at 90.8% of the asking price, compared to 84.8% last year

We obviously can’t credit the weather for this great market performance.  Maybe it was the home buyer tax credit.  Maybe it was because people are realizing Prince Georges County offers one of the best housing values in the area.

Express Realty Services can show you homes similar to the ones that blew buyers’ socks off in the windy, snowy month of February.

As the Washington, DC area rebounds from the housing recession, Prince Georges County is faced with some challenges that offer good opportunities for home buyers and sellers alike.

A short commute from the core city, suburbs within the county offer convenience along with lower prices.  Average homes prices are $374,044, an 18.1% decline between 12/08- 12/09.  This is about $100,000 less than homes in the District, but about $80,000 higher than homes in outer suburbs in Loudoun, Prince William and Frederick Counties.

Properties in Prince Georges County average 76 days on the market (DOM).  This is longer than in DC (73 days) and the Outer suburbs (59 days) but down from 109 days in 12/08.  The falling DOM give sellers a good shot at selling their existing home and buying a new one in time to realize the $6,500 repeat buyer’s tax credit.

Buying?  Selling? Call Express Realty Services today for a home in College Park, Capitol Heights, District Heights, or any other city in Prince Georges County.  Chat with an Agent or call 703-752-1380.

Brisk home sales in November 2009 are great news for both buyers and sellers in the greater DC area. Compared to a year ago, homes are on the market for less time and yield a price closer to the asking price.  Since prices are generally lower than a year ago, buyers are finding great deals and benefiting from tax credits.

In Prince Georges County, the median sale price was $205,000, compared to $246,000 in November 2008.  The average sales price was 90.24% of the asking price, compared to an average price representing only 86.35% last year.  632 homes sold in November compared to just 333 in the same period last year, while the average days on the market (DOM) fell from 141 days in 2008 to 119 days this year.

Keep those numbers up!  Buy a home now.  Express Realty Service can match you up with an affordable home you love.  Aside from our featured listings, we have a special stock of renovated, refurbished, or remodeled homes from our sister company Express Homebuyers.  Check out the many affordable-home values we have to offer.