The Long & Foster Market Minute
Focus On: Prince George's County Housing Market June 2017
Units Sold
1,013
Active Inventory
2,031
Median Sale Price
$280,000
Days On Market
33
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -2%
Vs. Year Ago
Down -29%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -8%
Vs. Year Ago
Units Sold
There was an increase in total units sold in June, with 1,013 sold this month in Prince George's County Real Estate versus 983 last month, an increase of 3%. This month's total units sold was lower than at this time last year, a decrease of 2% versus June 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 831 units or 29%. The total number of active inventory this June was 2,031 compared to 2,862 in June 2016. This month's total of 2,031 is lower than the previous month's total supply of available inventory of 2,163, a decrease of 6%.

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Median Sale Price
Last June, the median sale price for Prince George's County Homes was $262,750. This June, the median sale price was $280,000, an increase of 7% or $17,250 compared to last year. The current median sold price is 2% higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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New Listings
1,438
Current Contracts
1,205
Sold Vs. List Price
99.7%
Months of Supply
2.0
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 9%
Vs. Year Ago
Up 23%
Vs. Year Ago
No Change
Vs. Year Ago
Down -28%
Vs. Year Ago
Months of Supply
In June, there was 2.0 months of supply available in Prince George's County, compared to 2.8 in June 2016. That is a decrease of 27% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

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New Listings & Current Contracts
This month there were 1,438 homes newly listed for sale in Prince George's County compared to 1,314 in June 2016, an increase of 9%. There were 1,205 current contracts pending sale this June compared to 980 a year ago. The number of current contracts is 23% higher than last June.

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Sale Price to List Price Ratio
In June, the average sale price in Prince George's County was 99.7% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 33, lower than the average last year, which was 36, a decrease of 8%.

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*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by MRIS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate, Inc.