Prince George's County MD Home Sales Trend Indicator
This report is for the past month and the residental market statistics are compared with the same month last year. There were 1,320 new listings and 956 new pending contracts. The sold dollar volume was down 17.79% from last year. The median sold price was $186,000. The number of homes sold was 613 as compared with 638 last year. The average time on the market was 87 days as compared to 133 days last year. The average sale price was 89.78% of the average list price. Foreclosures and short sales listings still influence the area market. Currently, there are over 740 active listings of lender owned foreclosures plus hundreds of short sale pre-foreclosure listings.
Life is good in Maryland!
RealEstate Business Intelligence, LLC.
Real Estate Trend Indicator - Higher Price Segment Format
Prince Georges County, MD
From: 08/01/2010 to 08/31/2010 Statistics generated on: 09/08/2010
| |
Residential
Unit Sales
Number of Bedrooms |
Active Listings |
|
Time on Market |
| Price Class |
2
Or Less |
3 |
4
or More |
Condo
Coop |
Ground
Rent |
Residential
|
Condo
Coop |
Ground
Rent |
of Units Sold
(No. of Units) |
| Under $100,000 |
19 |
41 |
20 |
25 |
0 |
380 |
318 |
8 |
1 -30 Days |
219 |
| $100,000 - 149,999 |
6 |
42 |
37 |
18 |
1 |
776 |
239 |
3 |
31-60 Days |
124 |
| $150,000 - 199,999 |
6 |
42 |
68 |
12 |
0 |
1104 |
186 |
2 |
61 - 90 Days |
81 |
| $200,000 - 249,999 |
3 |
53 |
48 |
6 |
0 |
835 |
93 |
1 |
91-120 Days |
53 |
| $250,000 - 299,999 |
2 |
23 |
48 |
1 |
0 |
643 |
11 |
0 |
Over 120 Days |
136 |
| $300,000 - 349,999 |
0 |
6 |
32 |
0 |
0 |
376 |
8 |
0 |
Total |
613 |
| $350,000 - 399,999 |
0 |
2 |
22 |
1 |
0 |
323 |
3 |
0 |
|
|
| $400,000 - 449,999 |
0 |
2 |
12 |
0 |
0 |
173 |
1 |
0 |
Type of Financing
of Units Sold
(No. of Units) |
| $450,000 - 499,999 |
0 |
0 |
7 |
0 |
0 |
140 |
1 |
0 |
| $500,000 - 599,999 |
0 |
0 |
6 |
0 |
0 |
117 |
4 |
1 |
Conventional |
81 |
| $600,000 - 699,999 |
0 |
0 |
1 |
0 |
0 |
56 |
1 |
0 |
FHA |
290 |
| $700,000 - 799,999 |
0 |
0 |
1 |
0 |
0 |
28 |
1 |
0 |
VA |
66 |
| $800,000 - 899,999 |
0 |
0 |
0 |
0 |
0 |
14 |
0 |
0 |
Assumption |
15 |
| $900,000 - 999,999 |
0 |
0 |
0 |
0 |
0 |
6 |
0 |
0 |
Cash |
149 |
| $1,000,000 - 2,499,999 |
0 |
0 |
0 |
0 |
0 |
29 |
1 |
0 |
Owner Finance |
1 |
| $2,500,000 - 4,999,999 |
0 |
0 |
0 |
0 |
0 |
16 |
0 |
0 |
All Other |
11 |
| $5,000,000 & Over |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Unreported |
0 |
| Totals |
36 |
211 |
302 |
63 |
1 |
5016 |
867 |
15 |
Total |
613 |
| Grand Totals |
613 |
5898 |
|
|
| |
2010 |
2009 |
% Change |
| Total Sold Dollar Volume: |
$ 121,449,549 |
$ 147,728,458 |
- 17.79 % |
| Average Sold Price: |
$ 198,123 |
$ 231,549 |
- 14.44 % |
| Median Sold Price: |
$ 186,000 |
$ 216,500 |
- 14.09 % |
| Total Units Sold: |
613 |
638 |
- 3.92 % |
| Average Days on Market: |
87 |
133 |
- 34.59 % |
| Average List Price for Solds: |
$ 220,688 |
$ 262,137 |
- 15.81 % |
Avg Sale Price as a
percentage of Avg List Price: |
89.78 % |
88.33 % |
|
|
| Total Number of NEW listings |
|
| taken for the month: |
1320 |
Total Number of Properties
|
|
| marked Contract for the month: |
595 |
| Total Number of Properties |
|
| marked Contingent for the month: |
361 |
Total Number of NEW pendings
|
|
| (CONTRACTS + CONTINGENTS): |
956 |
|
Source: RealEstate Business Intelligence, LLC. An MRIS company. All Rights Reserved.
Copyright 2010 - Information deemed reliable, but is not guaranteed. 
Mortgage Financing: It is an ideal time to obtain funds to purchase a residence or investment property. Interest rates are still very low. Pre-approval for financing is the first step in the home purchase process. Buyers, including investors, need to have a lender letter in hand when they submit an offer on a property. Buyers should be prepared to fully document their income and obligations. Buyers are finding it more difficult to qualify for mortgage financing and the trend is to the use of FHA financing which has a minimum cash requirement of 3.5% of the purchase price. FHA Streamlined 203(k) financing allows buyers to include up to $35,000 of the costs of home improvements in the mortgage loan. The FHA mortgage loan limit in Prince George's County is $729,750. Ask us for a referral if you do not have an existing relationship with a mortgage lender.
Please contact us with your real estate questions. We will always appreciate your referrals of friends and relatives.
We represent home buyers and sellers as their exclusive agents in the Maryland suburbs of Washington DC.
Roy Kelley
Roy Kelley & Associates
Associate Broker, RE/MAX Realty Group
Client Assistance: 301-670-8996
Recipient of the RE/MAX International Lifetime Achievement Award - 2008
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.
;)
;)
;)
0 Comments on Prince George's County MD Home Sales Trend Indicator
Login or register to leave a comment