Prince Georges County Real Estate Market Report 2021
The greater Prince Georges County Market is still experiencing reduced inventory, and a high demand for housing. As such, prices are still rising, however we are noticing a bit of a cooling in the market. The September numbers are showing this trend and it would be interesting to see what happens in November.
We are noticing that more and more home prices are being reduced. This is only because some sellers were pricing above and beyond where the market was, resulting in them needing to adjust their price in order to sell.
If you are a buyer and wish to enter this market, prepare to be motivated but flexible, patient but willing to move quickly.
Prices in Prince Georges County’s housing market are still escalating, and multiple offers are very likely, the only difference now is, there may be 2-3 offers as opposed to 15+. So what about new construction? Many are going up but builders are typically 6 months to 1 year out of selling completed homes.
What’s Your Home Worth?
GET YOUR ESTIMATE NOW
2021 Housing Market Values
The average home in greater Prince Georges County is selling for around $252,750 and climbing.
Prince Georges CountyMonth | Sale Price, Average |
| Aug | $401,976 |
| Sep | $410,826 |
Oct Nov | $403,3000 $405,713 |
2021 Listing Volume
This is for Prince Georges County and includes only single family properties, Townhomes and Condos.
Month | Active Listings, $ Volume |
Jun | $590,736,118. |
Jul | $639,385,515. |
Aug Sep Oct Nov | $877,068,940. $583,904,855 $720,720,083 $559,602,384 |
Prince Georges County Inventory
These are the available single family properties available for sale.
Month | Active Listings, Number of |
Jun | 1,433 |
Jul | 1,664 |
Aug Sep Oct Nov | 1,456 1,422 1,378 1,089 |
Close to List Ratio
Properties in Prince Georges County are frequently selling for over the list price and averaging 100%. Buyers don’t have as much room to negotiate in today’s market.
Month | Close Price to List Price Ratio |
Jun | 102.69% |
Jul | 102.20% |
Aug Sep Oct Nov | 101.66% 101.10% 100.00% 100.80% |
Days to Sell
Month | Days to Sell, Median |
Jun | 13 |
Jul | 13 |
Aug Sep Oct Nov | 14 16 18 24 |
Price per Square Foot
*single family homes in Prince Georges County
Month | List Price by SqFt Ratio |
Jun | $264.39 |
Jul | $249.62 |
Aug Sep Oct Nov | $237.83 $248.84 $248.03 $248.60 |
Prince Georges County
Here are the average home sales for the Prince Georges County metro area for November. The greater Prince Georges County housing market is currently a seller’s market.
Property Subtype | Sale Price, Median |
Single Family Residential | $461,118 |
Row/townhouse | $353,015 |
Condominium | $207,210 |
|
|
If you need to sell your house, call or text us at 443-929-0703 for an expert analysis on how much you could get today.