Prince George's County Market Trends Jan-Feb 2012

The Prince George's County Market appears to be heating up in some areas. Though the total home sales is down slightly from this time last year, there are many fewer homes on the market, and more home under contract. One factor that may contributing to the slightly lower sold homes is the increase in short sales. There were many more short sales (318 vs. 204) and significantly fewer foreclosures (338 vs. 579) that sold in PG County in January & February 2012.

The most active price ranges are the ones under $200,000. Many buyers in these ranges are seeing homes sell in a few days and with multiple offers. Whereas, very few homes in the upper price brackets sold in the first 2 months of 2012.

The most active cities within PG County were Hyattsville, Bowie, Upper Marlboro, & Fort Washington