Real Estate
Prince George's Sees Increase in Median Home Sale Prices
Inventory is down across the county, Long & Foster reports.
The housing market in Prince George's County may be on the rebound, according to new numbers released by Long & Foster.
The real estate company’s data shows that in a year-over-year comparison from February 2012 to February 2013, median sales prices are up in many Maryland counties, while the inventory of homes for sale is down significantly.
County
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Median Sales Price—Feb. 2012
Median Sales Price—Feb. 2013
Find out what's happening in Laurelfor free with the latest updates from Patch.
Change
Available Inventory—Feb. 2012Available Inventory—Feb. 2013
Change
$152,000
$165,000
+9%
3,9091,710
-56%
-45%
The pace of homes being listed and being sold has also picked up over the past 12 months, with the average Prince George’s house staying on the market for 54 days.
Sale prices are also high compared to the asking price. In Prince George’s County, sales prices were 99 percent of the list price.
Jeffrey S. Detwiler, president and chief operating officer of the Long & Foster Companies said the numbers are “all great signs for a suburban Maryland-area residential real estate market that is in full recovery mode.”