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| Focus On: Prince George's County Housing Market | August 2023 | ||
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| Units Sold 735 |
Active Inventory 1,079 |
Median Sale Price $425,500 |
Days On Market 18 |
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| Down -16% Vs. Year Ago |
Down -30% Vs. Year Ago |
Up 6% Vs. Year Ago |
Down -5% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in August, with 735 sold this month in Prince George's County Real Estate versus 729 last month, an increase of 1%. This month's total units sold was lower than at this time last year, a decrease of 16% versus August 2022. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 455 units or 30%. The total number of active inventory this August was 1,079 compared to 1,534 in August 2022. This month's total of 1,079 is lower than the previous month's total supply of available inventory of 1,314, a decrease of 18%. |
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Median Sale Price
Last August, the median sale price for Prince George's County Homes was $400,000. This August, the median sale price was $425,500, an increase of 6% or $25,500 compared to last year. The current median sold price is 2% lower than in July. 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 873 |
Current Contracts 864 |
Sold Vs. List Price 100.9% |
Months of Supply 1.5 |
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| Down -21% Vs. Year Ago |
Up 1% Vs. Year Ago |
Up 0.8% Vs. Year Ago |
Down -16% Vs. Year Ago |
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Months of Supply
In August, there was 1.5 months of supply available in Prince George's County, compared to 1.8 in August 2022. That is a decrease of 17% 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 873 homes newly listed for sale in Prince George's County compared to 1,111 in August 2022, a decrease of 21%. There were 864 current contracts pending sale this August compared to 858 a year ago. The number of current contracts is 1% higher than last August. |
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Sale Price to List Price Ratio
In August, the average sale price in Prince George's County was 100.9% of the average list price, which is 0.8% higher than at this time last year. Days on Market
This month, the average number of days on market was 18, lower than the average last year, which was 19, a decrease of 5%. | |||
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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. | |||
 Information 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. |
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