Prince George’s County, Maryland, remains the most affordable housing market in the D.C. region, but prices there are rising at the fastest pace in suburban Maryland.
In September, the median price of what sold in Prince George’s County was $315,000. That’s $21,000, or 7%, more than the median price of what sold in Prince George’s County a year ago.
The median home price in Prince George’s County is still almost $275,000 lower than the median price in Arlington County, Virginia, the region’s most expensive county for home prices.
For sellers in Prince George’s County, buyers are willing to pay full price. The list-versus-sale price in the county last month was 99.5%, and what sold went under contract in an average of 32 days. The number of homes on the market in Prince George’s County is down 34% from last fall.
Inventory is lower throughout suburban Maryland.
In Montgomery County, there was little change in prices last month. The median price of what sold in Montgomery County was $425,000, up just 1% from last September.
Below is a market snapshot for suburban Maryland’s September housing market, courtesy of Long & Foster Real Estate Inc. Click to enlarge.
