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. ANNUAL REVIEW 2003 99.17% list/sold price ratio
Total Dollar Volume: $2.63 billion
Units Sold: 13,480
% list/sold price ratio
Total Dollar Volume: $3.6 billion
Units Sold: 14,447
% list/sold price ratio
Total Dollar Volume: $4.6 billion
Units Sold: 14,251
% list/sold price ratio
Total Dollar Volume: $4.48 billion
Units Sold: 11,747
% list/sold price ratio
Total Dollar Volume: $2.52 billion
Units Sold: 7,568
% list/sold price ratio
Total Dollar Volume: $1.16 billion
Units Sold: 3,928
2009 (year to date) % list/sold price ratio
Total Dollar Volume: $ 1.21billion
Units Sold: 5,449

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

5. Listing Inventory (Single-Family)

6. Listing Inventory (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 19th, 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
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
-10%

14. Market Conditions Summary
Prices are slowly leveling out
Buyers have more buying power
Inventory is decreasing at a steady rate
Multiple contracts are being seen
Appreciation rates still inch upward
Interest rates are still at historic lows
Real estate is still one of the best investments
Lots of buyer incentives in our County especially with the NSP and Federal $8,000 Tax Credit for new homebuyers and $6,500 Tax Credit for some current homeowners

15. Forecast
NAR: 2010 should be a stronger year, with 2011 proving to be even stronger
Inventory should continue to decline causing home prices to rise
New homebuying initiatives will continue to attract
residents and new business to the County
Opportunities abound
Numerous projects are working in our favor
Prince George’s County will remain the most affordable in metro area

16. It’s a Great Time to Buy! www.PGCAR.com
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