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| Focus On: Prince George's County Housing Market | October 2023 | ||
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| Units Sold 647 |
Active Inventory 1,259 |
Median Sale Price $425,000 |
Days On Market 25 |
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| Down -13% Vs. Year Ago |
Down -25% Vs. Year Ago |
Up 5% Vs. Year Ago |
Down -4% Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in October, with 647 sold this month in Prince George's County Real Estate versus 718 last month, a decrease of 10%. This month's total units sold was lower than at this time last year, a decrease of 13% versus October 2022. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 425 units or 25%. The total number of active inventory this October was 1,259 compared to 1,684 in October 2022. This month's total of 1,259 is lower than the previous month's total supply of available inventory of 1,399, a decrease of 10%. |
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Median Sale Price
Last October, the median sale price for Prince George's County Homes was $403,048. This October, the median sale price was $425,000, an increase of 5% or $21,952 compared to last year. The current median sold price is 1% higher than in September. 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 835 |
Current Contracts 734 |
Sold Vs. List Price 100.2% |
Months of Supply 1.9 |
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| Down -17% Vs. Year Ago |
Up 8% Vs. Year Ago |
No Change Vs. Year Ago |
Down -14% Vs. Year Ago |
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Months of Supply
In October, there was 1.9 months of supply available in Prince George's County, compared to 2.3 in October 2022. That is a decrease of 14% 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 835 homes newly listed for sale in Prince George's County compared to 1,008 in October 2022, a decrease of 17%. There were 734 current contracts pending sale this October compared to 682 a year ago. The number of current contracts is 8% higher than last October. |
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Sale Price to List Price Ratio
In October, the average sale price in Prince George's County was 100.2% 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 25, lower than the average last year, which was 26, a decrease of 4%. | |||
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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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