Home sales in Prince George’s County are up even amid the coronavirus pandemic.
The Prince George’s County Association of REALTORS reported 1,015 closed sales in November at an average price of $368,853 — up 31.3% and 14.9% respectively from November 2019.
The November numbers were on par with the previous month’s, with closed sales decreasing only 1% from October while the average sale price increased by 1.2%.
The sales surge is especially remarkable given the record-low inventory and the fact that seasonal changes typically show lower sales activity heading into winter, according to the association.
Additionally, the average number of days on market (DOM) for Prince George’s homes is also at a record low, meaning that the increase in sales — and at higher prices during these shorter DOM — resulted in another month’s culmination of growth for the local real estate market.
“Prince George’s County home sales continue to break records,” said Shameeka Price, PGCAR president. “Instead of slowing down as we head into colder weather, our home sales keep heating up. For the second consecutive month, half of the county’s listed homes sold in seven days or less.”