The Long & Foster Market Minute

Focus On: Prince George's County Housing Market December 2019

Units Sold
940
Active Inventory
1,413
Median Sale Price
$317,600
Days On Market
36
Up 11%
Vs. Year Ago
Down -50%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -5%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 940 sold this month in Prince George's County Real Estate versus 851 last month, an increase of 10%. This month's total units sold was higher than at this time last year, an increase of 11% versus December 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 1,438 units or 50%. The total number of active inventory this December was 1,413 compared to 2,851 in December 2018. This month's total of 1,413 is lower than the previous month's total supply of available inventory of 2,221, a decrease of 36%.

Median Sale Price
Last December, the median sale price for Prince George's County Homes was $305,000. This December, the median sale price was $317,600, an increase of 4% or $12,600 compared to last year. The current median sold price is 1% higher than in November.

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


New Listings
729
Current Contracts
810
Sold Vs. List Price
99.6%
Months of Supply
1.5
Down -17%
Vs. Year Ago
Up 7%
Vs. Year Ago
No Change
Vs. Year Ago
Down -55%
Vs. Year Ago

Months of Supply
In December, there was 1.5 months of supply available in Prince George's County, compared to 3.4 in December 2018. That is a decrease of 55% 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.

New Listings & Current Contracts
This month there were 729 homes newly listed for sale in Prince George's County compared to 876 in December 2018, a decrease of 17%. There were 810 current contracts pending sale this December compared to 755 a year ago. The number of current contracts is 7% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Prince George's County was 99.6% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 36, lower than the average last year, which was 38, a decrease of 5%.

The Long & Foster Market Minute
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.