BOWIE MD 20715, 20716, 20720
As you consider whether to buy or sell a home in the Bowie area, you might want to take a look at recent sales statistics so that you will have realistic expectations. These figures were published by the Metropolitan Regional Information Systems, Inc., the multiple listing service used in the Bowie area of Prince George's County.
| Bowie (20715) | 2007 | 2006 | |
|---|---|---|---|
| Total Sold Dollar Volume: | $ 15,459,349 | $ 15,766,529 | - 1.95 % |
| Average Sold Price: | $ 386,484 | $ 384,549 | 0.50 % |
| Median Sold Price: | $ 358,950 | $ 350,000 | 2.56 % |
| Total Units Sold: | 40 | 41 | - 2.44 % |
| Average Days on Market: | 92 | 47 | 95.74 % |
| Average List Price for Solds: | $ 395,042 | $ 393,348 | 0.43 % |
| Avg Sale Price as a percentage of Avg List Price: | 97.83 % | 97.76 % |
There were 74 new listings in April, and only 27 new contracts. This suggests that homes will continue to stay on the market for a long time, and that home prices will remain flat or falling due to the imbalance of supply and demand.
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| Bowie (20716 | 2007 | 2006 | |
|---|---|---|---|
| Total Sold Dollar Volume: | $ 9,316,690 | $ 12,768,800 | - 27.04 % |
| Average Sold Price: | $ 332,739 | $ 354,689 | - 6.19 % |
| Median Sold Price: | $ 328,000 | $ 345,000 | - 4.93 % |
| Total Units Sold: | 28 | 36 | - 22.22 % |
| Average Days on Market: | 68 | 39 | 74.36 % |
| Average List Price for Solds: | $ 339,697 | $ 359,512 | - 5.51 % |
| Avg Sale Price as a percentage of Avg List Price: | 97.95 % | 98.66 % |
In this area of Bowie, there were 58 new listings, and 17 new contracts. Again, this suggests that homes sales will continue to stay on the market for a long time, and that home prices will remain flat or falling due to the imbalance of supply and demand.
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| Bowie (20720) | 2007 | 2006 | |
|---|---|---|---|
| Total Sold Dollar Volume: | $ 17,192,967 | $ 13,469,319 | 27.65 % |
| Average Sold Price: | $ 477,582 | $ 498,864 | - 4.27 % |
| Median Sold Price: | $ 415,000 | $ 415,000 | 0.00 % |
| Total Units Sold: | 36 | 27 | 33.33 % |
| Average Days on Market: | 110 | 49 | 124.49 % |
| Average List Price for Solds: | $ 488,939 | $ 511,854 | - 4.48 % |
| Avg Sale Price as a percentage of Avg List Price: | 97.68 % | 97.46 % |
The imbalance of new listings and new contracts is even greater in this area of Bowie. During April, there were 74 new listings and only 20 new sales.
Fortunately, the average sale price vs. list price has remained fairly good, at more than 97%. In all fairness, though, this does not take into acount any price reductions. It is entirely possible, even likely, that properties were priced at a higher figure and lowered at least once before the contract. This analysis measures only the list price at the time of the contract.
If you would like to see the sales statistics for any other area of Prince George's County, Maryland, you may contact me directly at 301-346-2923.
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