Is Prince George's County, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Prince George's County has remained a Seller's Market.
Housing Prices in Prince George's County, MD
How much do homes in Prince George's County, MD cost?
Median Sold Price
$424,967
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Prince George's County was $424,967 in June 2024, up 5.6% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $132K | $135K | +2.3% |
2 Bedrooms | $237.5K | $259.7K | +9.4% |
3 Bedrooms | $375K | $400K | +6.7% |
4 Bedrooms | $450.2K | $472.4K | +4.9% |
5+ Bedrooms | $529.4K | $552.4K | +4.3% |
Summary: Prince George's County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.3%, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 4.3%.
Median Sold Price Compared To Nearby Counties
Fairfax County | $656.6K | $701.1K | +6.8% |
Anne Arundel County | $454.5K | $485.1K | +6.7% |
Prince George's County | $402.5K | $424.9K | +5.6% |
Calvert County | $416.7K | $439.9K | +5.6% |
Charles County | $410.2K | $430.1K | +4.8% |
Housing Supply in Prince George's County, MD
How many homes are available in Prince George's County, MD?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
2,405 | 2,599 | +8.1% |
Summary: The Prince George's County real estate market had 2,599 homes for sale in June 2024, a 8.1% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 93 | 92 | -1.1% |
2 Bedrooms | 283 | 293 | +3.5% |
3 Bedrooms | 879 | 953 | +8.4% |
4 Bedrooms | 742 | 800 | +7.8% |
5+ Bedrooms | 408 | 461 | +13.0% |
Summary: The Prince George's County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 1.1%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 13%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
733 | 578 | -21.1% |
Asking Price vs. Sold Price
146 Homes Were Sold
Under Asking
165 Homes Were Sold
At Asking
267 Homes Were Sold
Over Asking
Summary: A total of 578 homes were sold or pending in Prince George's County in June 2024, down by 21.1% month-over-month. Of the 578 sold homes, 25% were sold under asking, 29% were sold at asking, and 46% were sold over asking.
Days on Market for Prince George's County, MD
How long does it take to sell a home in Prince George's County, MD?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
21 Days | 22 Days | +8.7% |
Summary: Homes in Prince George's County had an average of 22 days on market in Jun 2024, up by 8.7% compared to last year.
Breakdown of Home Sale Times
459 Homes Were Sold
Under 30 Days
99 Homes Were Sold
In 30 - 90 Days
20 Homes Were Sold
Over 90 Days
Summary: During June 2024, 578 homes were sold in Prince George's County; 79% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.