Prince George's County real estate market update for August, 2008
September 5, 2008 by Admin · Leave a Comment
The volume of foreclosures in P.G. County is still roiling the local real estate market. Inventory (Active Listings) continues to rise (over 8,000 homes available, there were less than 1,000 listings at the peak of the market), and home sales continue to slope downwards.
It’s interesting to note that there was a spike in average sales price, but this is likely due to larger homes returning to a realm of affordability, and not a general market improvement. The average volume of sold properties continues to suffer, indicating further market challenges.
It’s impossible to say when the market will turn around for P.G. County, but it is without a doubt still a long road ahead.
~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000
301-653-8116
Southern Maryland Real Estate Blog
