Prince George's County, Maryland
April 2025 Market Watch
Prince George's County Home Market:
Sales Surge 13.4%, Home Values Climb 4.2% as
Spring Inventory Growth Expands Opportunities
Landover, MD, May 2025 - The Prince George's County Association of REALTORS® (PGCAR) reports a vibrant continuation of the Spring Housing Market. In April, Closed Sales jumped 13.4% and home values rose 4.2%, reflecting robust buyer demand despite continued national economic uncertainty. While the Consumer Confidence Index dipped from 52.2 to 50.8, Prince George's County remained resilient, thanks to its diverse economy, attractive housing options, and long-standing market appeal. Whether first-time buyers, downsizers, or investors, consumers continue to find value, opportunity, and stability in the County's housing market.
- Market Momentum: Sales and Volume Growth April momentum builds upon a strong March, which saw a 15.2% increase in closed transactions, and confirms the spring season is fully underway.
In April, the Total Home Sales Volume surged to $312.1 million, a 19% month-over-month increase, driven by the 13.4% rise in Closed Sales. Remarkably, home sales have increased in six of the past seven months, defying seasonal norms as most of these months occurred during the typically slower fall and winter seasons.
Stabilizing mortgage rates and a gradual increase in listings - including new construction - are fueling this demand. While supply constraints remain a limiting factor, buyer interest continues to outpace inventory, reinforcing a seller-favorable environment. - Home Values Continue to Rise: April Average and Median Sold Prices rose significantly over last month and 2024. Median Sale Price increased 4.5% over March and 5.6% over 2024. Average Sale Price increased 4.2% over March and 5.3% over 2024. These increases are consistent across price brackets, reinforcing confidence in long-term home equity growth. This ongoing appreciation also highlights the urgent need for expanded inventory below $350,000 to better support first-time homebuyers.
- Inventory Expands, But Supply Remains Tight: While inventory is still recovering, April saw a welcome 11% month-over-month increase, rising to 1,444 homes for sale. For context, a 10-year or 20-year historical view shows Active Listings typically ranging between 1,500 and 2,200 homes. This longer view further accentuates how dramatic a drop Active Home Listings took leading up to the pandemic, during which it plunged to under a single month's supply. We are currently at 1.98 Months of Supply, meaning that if no new listings were added, the current inventory would be sold in 1.98 months. A balanced market is typically considered to be between 4 to 6 months of inventory.
- Sales Activity and Buyer Demand: April Closed Sales totaled 670, a 13% gain over March and 5.9% drop from 2024. April's new contract activity stayed almost even with March, seeing a 0.8% drop from 822 to 815 New Pending Sales. Our County's Total Contract Activity of 1,485 home contracts either settled or newly signed (670 Closed Sales plus 815 New Pending Sales), was a 5.1% gain over March and exceeded Active Listings (averaging 1,444) by 2.8% in April. The monthly increase and comparing sales activity to home inventory both attest to strong market demand.
- A Balanced and Resilient Market: April market data reveals continued strength, high homeownership demand, and a solid foundation for 2025. As expected, as new Sellers entered the market in April, Closed Sales also increased. The April New Pending to New Listing Ratio was 0.94. The April Contract Ratio was 0.85 (Pending Contracts per Active Listing), indicating a balanced market with a slight trend towards Buyers. Buyers are finding more price, location and style options, and a bit more time to make decisions. Sellers are still benefiting from rising home values, the strong absorption (purchasing) rate for Listings, and historically rapid sales turnaround.
- Speed and Strength of the Market: Homes sold at an average 99.6% of their Original Listing Price, remaining steadfastly near 100%. Homes continue to move quickly, with Median Days on Market (DOM) dropping from 19 days in March to 14 days in April. The Average DOM in Prince George's County dropped from 34 to 29 days, significantly faster than the national average of 50 days.
Market Performance Snapshot
| April 2025 | Year Over Year (YoY) | Month Over Month (MoM) | |
|---|---|---|---|
| Total Sold Dollar Volume | $312,086,110 | + 0.1% | + 19% |
| Closed Sales | 670 | - 5.9% | + 13.4% |
| Median Sold Price | $454,445 | + 5.6% | + 4.5% |
| Average Sold Price | $468,165 | + 5.3% | + 4.2% |
| Median Days on Market | 14 days | + 40% | - 26.3% |
| Average Days on Market | 29 days | + 20.8% | - 14.7% |
| New Pending Sales | 815 | - 10.5% | - 0.8% |
Expert Insights: Strength and Opportunity in Prince George's County
Arnita Greene, PGCAR President and REALTOR® with Capital Structures Real Estate, proudly shared: "We continue to see home values appreciate at a greater rate, sales close at a faster pace, and buyer demand outpace inventory. With mortgage rates stabilizing and inventory starting to rise, 2025 remains full of opportunity for Prince George's County buyers and sellers."
Greene highlighted that the County's Total Market Volume has grown in 8 of the last 10 months, with gains from 5% to 29.1%. "As more sellers join the market, pent-up demand is being unlocked, allowing more buyers to successfully close on homes.
The Enduring Case for Homeownership
While forecasts fluctuate and homebuilding costs, tariffs, employment, GDP and other economic factors are closely watched, the value of home ownership remains certain. Key benefits of homeownership include:
- Equity and personal wealth growth
- Fixed-rate mortgage vs. variable rental rates
- Future potential to lower mortgage rate and shorten term
- Future potential to reinvest home equity or use it as collateral for lower-interest loans
Homeownership helps fulfill lifestyle and financial dreams," Greene explains. "It's an investment you can live in."
Prince George's County continues to outperform regional and national markets, offering affordability, diverse housing styles, and a high quality of life. From urban to rural settings, and from cultural to employment opportunities, Prince George's County stands out as a leading place to live, work or grow a business across the greater Maryland-Washington DC-Northern Virginia region."
Guidance for Buyers and Sellers: The Timing is Great!
Greene concluded with a call to action: "Now is an exceptional time to sell or buy in Prince George's County! Homes are selling at 99.6% of their Original Listing Price, and half are selling within two weeks. Connect with a REALTOR® to explore your opportunities. Whether buying, selling or both, a REALTOR® can guide you through the process, help you secure financing, and ensure a successful purchase or sale!"
The Voice for Real Estate in Prince George's County
PGCAR is the voice for REALTORS® in Prince George's County, Maryland. Representing more than 3,500 real estate professionals in the national capital area, PGCAR is an affiliate of the Maryland and National Association of REALTORS®. We are proud to serve our members and our community and work to ensure professionalism in the industry. Our volunteers and staff work to offer services to real estate professionals and to provide avenues for our members to become more successful. We proudly work to promote and protect homeownership and private property rights.
CONTACTS:
Arnita Greene, 2025 PGCAR President - 240-997-0198, Arnita@theGreeneGrp.com
Mike Graziano, Executive Vice President - 301-306-7900, MikeG@pgcar.com
