President, Prince George’s County Association of REALTORS® Joanne Darling, CBR President, Prince George’s County Association of REALTORS®

ANNUAL REVIEW 2010 (year to date) 90.2% Total Dollar Volume: $1.44 billion Units Sold: 6,465 2009 90.2% list/sold price ratio Total Dollar Volume: $1.62 billion Units Sold: 7,028 2008 86.0% list/sold price ratio Total Dollar Volume: $1.43 billion Units Sold: 4,916 2007 93.3% list/sold price ratio Total Dollar Volume: $2.52 billion Units Sold: 7,568 2006 97.2% list/sold price ratio Total Dollar Volume: $4.48 billion Units Sold: 13,116

Average Days on Market (Single-Family & Condos/Co-ops)

Listing Inventory (Single-Family)

Listing Inventory (Condos/Co-ops)

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 November 2010 Comparison DC: $564,691 MC: $468,000 PG: $197,880

Median Single-Family Home Prices November 2010 Comparison DC: $427,750 MC: $362,000 PG: $196,000

Average Condo/Co-op Prices

Market Statistics Summary November 2010 November 2009 % Change Average Sold Price Single-Family $210,875 $239,861 -12.1% Median Sold Price Single-Family $196,000 $229,000 -14.5% Average Sold Price Condos $109,997 $147,024 -25.2% Median Sold Price Condos $104,950 $155,000 -32.3% Total Units Sold (Condos & Single-Family) 654 473 +138% Days on Market (Condos & Single-Family) 85 133 -37%

Market Conditions Summary Prices are the lowest in 5 years Homes are staying on the market for a shorter time As a result, buyers have more buying power We are seeing some multiple offers Appreciation rates are slowly inching upward Interest rates are still at historic lows Real estate remains one of the best investments There are still some buyer incentives in our county Prices in Prince George’s County are the lowest in the District of Columbia region making Prince George’s County the best value in the area.

Forecast Indications are that 2011 should be a stronger year Prince George’s County is and will remain the most affordable in metro area MEDIAN PRICES (Single-Family & Condos) October 2010 October 2009 DC: $407,000 $380,000 Montgomery County: $355,000 $330,000 Prince George’s County: $190,000 $210,000 Source: MRIS

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