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 April 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
$421,246
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Prince George's County was $421,246 in April 2024, up 5.3% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $132K | $131K | -0.8% |
2 Bedrooms | $238.8K | $251.1K | +5.1% |
3 Bedrooms | $368.1K | $400K | +8.7% |
4 Bedrooms | $450K | $469K | +4.2% |
5+ Bedrooms | $519.8K | $550K | +5.8% |
Summary: Prince George's County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.8%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 5.8%.
Median Sold Price Compared To Nearby Counties
Anne Arundel County | $449.7K | $481.2K | +7.0% |
Fairfax County | $651.2K | $690.6K | +6.1% |
Prince George's County | $400K | $421.2K | +5.3% |
Charles County | $409.9K | $429.2K | +4.7% |
Calvert County | $424.9K | $437.7K | +3.0% |
Housing Supply in Prince George's County, MD
How many homes are available in Prince George's County, MD?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2,142 | 2,274 | +6.2% |
Summary: The Prince George's County real estate market had 2,274 homes for sale in April 2024, a 6.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 83 | 92 | +10.8% |
2 Bedrooms | 294 | 293 | -0.3% |
3 Bedrooms | 757 | 794 | +4.9% |
4 Bedrooms | 652 | 700 | +7.4% |
5+ Bedrooms | 356 | 395 | +11.0% |
Summary: The Prince George's County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.8%, 2 bedroom homes decreased by 0.3%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 11%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
660 | 525 | -20.5% |
Asking Price vs. Sold Price
131 Homes Were Sold
Under Asking
139 Homes Were Sold
At Asking
255 Homes Were Sold
Over Asking
Summary: A total of 525 homes were sold or pending in Prince George's County in April 2024, down by 20.5% month-over-month. Of the 525 sold homes, 25% were sold under asking, 26% were sold at asking, and 49% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
28 Days | 23 Days | -16.8% |
Summary: Homes in Prince George's County had an average of 23 days on market in Apr 2024, down by 16.8% compared to last year.
Breakdown of Home Sale Times
412 Homes Were Sold
Under 30 Days
81 Homes Were Sold
In 30 - 90 Days
32 Homes Were Sold
Over 90 Days
Summary: During April 2024, 525 homes were sold in Prince George's County; 78% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.