The Long & Foster Market Minute
Focus On: Prince George's County Housing Market March 2017
Units Sold
899
Active Inventory
1,852
Median Sale Price
$268,000
Days On Market
44
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 14%
Vs. Year Ago
Down -33%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -19%
Vs. Year Ago
Units Sold
There was an increase in total units sold in March, with 899 sold this month in Prince George's County Real Estate versus 710 last month, an increase of 27%. This month's total units sold was higher than at this time last year, an increase of 14% versus March 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 897 units or 33%. The total number of active inventory this March was 1,852 compared to 2,749 in March 2016. This month's total of 1,852 is lower than the previous month's total supply of available inventory of 2,150, a decrease of 14%.

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Median Sale Price
Last March, the median sale price for Prince George's County Homes was $236,500. This March, the median sale price was $268,000, an increase of 13% or $31,500 compared to last year. The current median sold price is 1% higher than in February.

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
1,289
Current Contracts
1,202
Sold Vs. List Price
99.2%
Months of Supply
2.1
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
No Change
Vs. Year Ago
Up 19%
Vs. Year Ago
No Change
Vs. Year Ago
Down -41%
Vs. Year Ago
Months of Supply
In March, there was 2.1 months of supply available in Prince George's County, compared to 3.5 in March 2016. That is a decrease of 41% 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 1,289 homes newly listed for sale in Prince George's County, which is similar to the amount in March 2016. There were 1,202 current contracts pending sale this March compared to 1,010 a year ago. The number of current contracts is 19% higher than last March.

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Sale Price to List Price Ratio
In March, the average sale price in Prince George's County was 99.2% 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 44, lower than the average last year, which was 54, a decrease of 19%.

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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.