Sell a Home in Prince Georges County, MD - July 2013 Real Estate Stats

By
Real Estate Agent with Keller Williams

Despite many areas seeing monthly declines in the housing market, Prince George’s County actually saw mostly improvements. The total number of homes sold in July 2013 was 748, a 5% increase from July of 2012 and a 7% increase from June. The total value of the homes sold was $167,454,502, a 23.5% increase from the previous year and a 9.5% increase from June.

The median value of a home sold in July was $206,750, up 19.5% from the year prior and .9% from the previous month. The average price of the sold homes was slightly higher at $223,870, which was about a 17% increase from 2012 and a 3% increase from June. When a house was sold on the open market, the seller received around 98.3% of their original asking price. This means that when a house was listed for $200,000, the seller would receive somewhere near $196,000.

By the end of the month, there were 1,661 active listings on the market. This is a massive 24% decrease from July of 2012. Of those listings, 1,020 of them were new, marking a 9.2% decrease from the previous year. Given that there were 701 homes sold in June in Prince George’s County, the 1,661 active listings makes up over a 2 month supply of homes, meaning that the real estate market is extremely healthy and sustainable. When a home was listed on the open market, it took about 54 days to be sold, a 36.5% decrease from the 85 days for July 2012. While listing times are dropping, 54 days is still a long time to wait. Express Homebuyers will buy your house in just 7 days, regardless of its condition. If you have a home in VA, MD, or DC that you want to sell fast, then give us a call today at 877-804-5252!

Posted by

Brad Chandler

Co-Founder & CEO, Express Homebuyers

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