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PRINCE GEORGE’S COUNTY ASSOCIATION OF REALTORS ® 2009 Review/2010 Preview
Michael Cerrito CBR   President, Prince George’s County Association of REALTORS ®
ANNUAL REVIEW ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Average Days on Market (Single-Family & Condos/Co-ops)
Listing Inventory (Single-Family)
Listing Inventory (Condos/Co-ops)
Foreclosures Housing and Economic Recovery Act of 2008 *  $11 Million to Prince George’s County *  Neighborhood Stabilization Program (NSP) *  75% used for down payment and closing assistance *  Acquire and rehab select grossly blighted properties *  Counseling Services to the home buying public *  “Down Payment on Your Dream “   *  Launched on July 19 th , 2009   *  167 loans have been closed   *  139 applications currently being processed   *  $6 Million still available   *  Program ends in September 2010
Absorption Rate (Single-Family) Absorption Rate is Percentage of New Contracts Versus Inventory
Absorption Rate (Condos/Co-ops) Absorption Rate is Percentage of New Contracts Versus Inventory
Average Single-Family Home Prices October 2009 Comparison DC: $552,771 MC: $486,302 PG: $241,607
Median Single-Family Home Prices October 2009 Comparison DC: $415,000 MC: $386,775 PG: $229,000 Median prices varied ~$20K each month
Average Condo/Co-op Prices October 2009 Comparison DC: $412,983 MC: $252,731 PG: $148,418
Market Statistics Summary October 2008 October 2009 % Change Average Sold Price Single-Family $313,071 $241,607 -23% Median Sold Price Single-Family $295,000 $229,000 -19.0% Average Sold Price Condos $191,637 $148,418 -19.0% Median Sold Price Condos $193,000 $155,000 -23.1% Total Units Sold (Condos & Single-Family) 408 709 +65.1% Days on Market (Condos & Single-Family) 136 122 -03%
Market Conditions Summary ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Forecast ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
For more information or assistance, please visit www.PGCAR.com It’s a Great Time to Buy! or contact us at any time

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Annual Press Conference - PGCAR Presentation

  • 1. PRINCE GEORGE’S COUNTY ASSOCIATION OF REALTORS ® 2009 Review/2010 Preview
  • 2. Michael Cerrito CBR President, Prince George’s County Association of REALTORS ®
  • 3.
  • 4. Average Days on Market (Single-Family & Condos/Co-ops)
  • 7. Foreclosures Housing and Economic Recovery Act of 2008 * $11 Million to Prince George’s County * Neighborhood Stabilization Program (NSP) * 75% used for down payment and closing assistance * Acquire and rehab select grossly blighted properties * Counseling Services to the home buying public * “Down Payment on Your Dream “ * Launched on July 19 th , 2009 * 167 loans have been closed * 139 applications currently being processed * $6 Million still available * Program ends in September 2010
  • 8. Absorption Rate (Single-Family) Absorption Rate is Percentage of New Contracts Versus Inventory
  • 9. Absorption Rate (Condos/Co-ops) Absorption Rate is Percentage of New Contracts Versus Inventory
  • 10. Average Single-Family Home Prices October 2009 Comparison DC: $552,771 MC: $486,302 PG: $241,607
  • 11. Median Single-Family Home Prices October 2009 Comparison DC: $415,000 MC: $386,775 PG: $229,000 Median prices varied ~$20K each month
  • 12. Average Condo/Co-op Prices October 2009 Comparison DC: $412,983 MC: $252,731 PG: $148,418
  • 13. Market Statistics Summary October 2008 October 2009 % Change Average Sold Price Single-Family $313,071 $241,607 -23% Median Sold Price Single-Family $295,000 $229,000 -19.0% Average Sold Price Condos $191,637 $148,418 -19.0% Median Sold Price Condos $193,000 $155,000 -23.1% Total Units Sold (Condos & Single-Family) 408 709 +65.1% Days on Market (Condos & Single-Family) 136 122 -03%
  • 14.
  • 15.
  • 16. For more information or assistance, please visit www.PGCAR.com It’s a Great Time to Buy! or contact us at any time