Is Prince George's County, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Prince George's County is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Prince George's County was a Seller's Market.

Key Takeaway

Prince George's County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Prince George's County, MD

How much do homes in Prince George's County, MD cost?

Median Sold Price

$420,691

$232/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$21,188(+5.3%)

Key Takeaway

Homes in Prince George's County have sold for 5.3% more than they did a year ago.

Summary: The median home sold price in Prince George's County was $420,691 in March 2024, up 5.3% from last year, and the median price per square foot was $232.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $135K$130K
-3.7%
2 $239.9K$249.9K
+4.2%
3 $365K$400K
+9.6%
4 $449.9K$465.1K
+3.4%
5+ $520.1K$551K
+5.9%

Summary: Prince George's County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.7%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 5.9%.

Median Sold Price Compared To Nearby Counties

Anne Arundel County
+6.7%
Prince George's County
+5.3%
Fairfax County
+5.2%
Charles County
+5.0%
Calvert County
+1.7%

Housing Supply in Prince George's County, MD

How many homes are available in Prince George's County, MD?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
4,0874,180+2.3%

Summary: The Prince George's County real estate market had 4,180 homes for sale in March 2024, a 2.3% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 166174
+4.8%
2 457478
+4.6%
3 1,4321,442
+0.7%
4 1,2571,275
+1.4%
5+ 775811
+4.6%

Summary: The Prince George's County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 4.6%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
552538-2.5%

Asking Price vs. Sold Price

130 Homes Were Sold
Under Asking

172 Homes Were Sold
At Asking

236 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Prince George's County, you could pay more than the asking price. 43.9% of homes here sold above asking price last month.

Summary: A total of 538 homes were sold or pending in Prince George's County in March 2024, down by 2.5% month-over-month. Of the 538 sold homes, 24% were sold under asking, 32% were sold at asking, and 44% 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

Mar 2023Mar 2024CHANGE
34 Days28 Days-18.5%

Summary: Homes in Prince George's County had an average of 28 days on market in Mar 2024, down by 18.5% compared to last year.

Breakdown of Home Sale Times

381 Homes Were Sold
Under 30 Days

121 Homes Were Sold
In 30 - 90 Days

36 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Prince George's County are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 538 homes were sold in Prince George's County; 71% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Prince George's County, MD

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