| 2008 | 2007 | % Change | |
|---|---|---|---|
| Total Sold Dollar Volume: | $ 111,479,143 | $ 149,411,291 | - 25.39 % |
| Average Sold Price: | $ 273,233 | $ 317,221 | - 13.87 % |
| Median Sold Price: | $ 260,000 | $ 302,300 | - 13.99 % |
| Total Units Sold: | 408 | 471 | - 13.38 % |
| Average Days on Market: | 136 | 104 | 30.77 % |
| Average List Price for Solds: | $ 310,501 | $ 341,221 | - 9.00 % |
| Avg Sale Price as a percentage of Avg List Price: | 88.00 % | 92.97 % |
Above are the statistics of October 2007 as compared to October 2008 in Prince Georges County MD. As you know, some of Laurel real estate is in Prince Georges County MD. These results also reflect the downward trend of home prices in Maryland real estate. The market continues to correct itself.
Average Sold prices in Prince Georges County have moved down well into the mid $200,000s. Average time on market has increased from just over three months to four and a half months. Forclosures and short sales continue to clog the market.
For sellers this could be good. Sellers who have equity and are not in foreclosure should sell and take advantage of this buyer’s market. Buyers still prefer the non-foreclosure and non-short sale.
For more information about Maryland real estate, visit my web site.
