The Long & Foster Market Minute

Focus On: Prince George's County Housing Market June 2021

Units Sold
1,153
Active Inventory
822
Median Sale Price
$388,250
Days On Market
13
Up 18%
Vs. Year Ago
Down -41%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -55%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 1,153 sold this month in Prince George's County Real Estate versus 1,035 last month, an increase of 11%. This month's total units sold was higher than at this time last year, an increase of 18% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 576 units or 41%. The total number of active inventory this June was 822 compared to 1,398 in June 2020. This month's total of 822 is lower than the previous month's total supply of available inventory of 858, a decrease of 4%.

Median Sale Price
Last June, the median sale price for Prince George's County Homes was $344,000. This June, the median sale price was $388,250, an increase of 13% or $44,250 compared to last year. The current median sold price is 1% higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
1,423
Current Contracts
1,234
Sold Vs. List Price
102.2%
Months of Supply
0.7
Up 32%
Vs. Year Ago
Up 20%
Vs. Year Ago
Up 2.3%
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Prince George's County, compared to 1.4 in June 2020. That is a decrease of 50% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 1,423 homes newly listed for sale in Prince George's County compared to 1,077 in June 2020, an increase of 32%. There were 1,234 current contracts pending sale this June compared to 1,029 a year ago. The number of current contracts is 20% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Prince George's County was 102.2% of the average list price, which is 2.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 13, lower than the average last year, which was 29, a decrease of 55%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.