The real estate market in the Maryland suburbs of Washington, D.C., including Charles, Frederick, Montgomery and Prince George’s counties, is seeing an increase in the median sale price in some areas of the region, according to The Long & Foster Market Minute reports.

The Long & Foster Market Minute reports are compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.

 

 

Some areas of the Maryland suburbs experienced year-over-year increases in median sale price in April, including a 16 percent increase in Prince George’s County. Charles County saw a 3 percent increase, while Montgomery County saw a 1 percent decrease. Frederick County experienced a 3 percent decrease.

Inventory varied in the suburban Maryland market, with declines of 35 percent in Prince George’s County and 1 percent in Charles County. Montgomery County experienced a 2 percent increase, and Frederick County experienced a 16 percent increase.

The number of homes sold in Frederick County saw a 2 percent increase compared to a year ago, but other areas in the suburban Maryland region saw decreases from 12 percent to 22 percent. Homes are continuing to sell at a quick pace. Montgomery County lead the way with the shortest marketing period of 36 days. Prince George’s County saw an average days on market (DOM) of 48 days, Frederick County saw a DOM of 49 days, and Charles County saw a DOM of 65 days.

“The spring housing market is beginning to bounce back, and we’re seeing many positive trends happening in the real estate market in the Mid-Atlantic, including in the suburban Maryland region,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “In many places, median sale prices are increasing and homes are selling at a faster pace than in previous months. We anticipate these developments will continue, and we’ll see more great happenings in the real estate market throughout the spring.”

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions and presented at the county level. The easy-to-read and easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, months of supply, new listings, new contracts, list to sold price ratio, and days on market. Featuring reports for more than 500 local areas and neighborhoods in addition to more than 100 counties in eight states, The Long & Foster Market Minute is offered to buyers and sellers as they aim to make well-informed real estate decisions.

The Long & Foster Market Minute reports are available at www.LongandFoster.com, and you can subscribe to free updates for the reports in which you’re interested.