Prince George’s County Market Report: December 2023 vs. December 2024

1. Median List Price

December 2023: $425,000
December 2024: $445,000
Difference: Increased by $20,000 (+4.7%).
Analysis: The increase in list prices reflects steady market appreciation and stronger seller confidence in December 2024.

2. Median Sold Price

December 2023: $425,000
December 2024: $450,000
Difference: Increased by $25,000 (+5.9%).
Analysis: Sold prices outpaced list price growth, signaling strong buyer demand and competitive bidding in the market.

3. Days on Market (DOM)

December 2023: 33 days
December 2024: 33 days
Difference: No change.
Analysis: The consistent days on market indicate steady buyer interest and a balanced market where homes continued to sell efficiently.

4. Number of Homes That Went Pending vs. Sold

Pending Homes:
December 2023: 491
December 2024: 424
Difference: Decreased by 67 homes (-13.6%).

Sold Homes:
December 2023: 537
December 2024: 781
Difference: Increased by 244 homes (+45.4%).
Analysis: The sharp increase in sold transactions, despite fewer pending homes, suggests that the market closed a backlog of transactions or experienced stronger buyer follow-through in December 2024.

Summary

December 2024 was a stronger month for Prince George’s County compared to December 2023. Median list and sold prices both increased, showing steady market appreciation and robust buyer demand. Days on market remained unchanged, reflecting a consistent pace of sales, while sold transactions rose significantly, highlighting strong year-end market activity. Sellers benefited from higher pricing, and buyers continued to demonstrate strong interest in the market.