Prince George’s Leads Region In Home Sales Surge

Report cites federal tax credit to 86 percent increase in sales over past year.

After always hearing negative news about the housing industry, here is finally a glimmer of hope.  Prince George’s county home sales grew the fastest of all counties in the mid-Atlantic region over the past year.  This region includes Maryland, Virginia, Washington, DC and parts of Pennsylvania, Delaware and West Virginia.

Home sales escalated 85.6% from April 2008 to April 2009, according to Metropolitan Regional Information Systems in Rockville.  Not only did sales boom, but the number of days of homes sitting on the market fell by 26%.  This may be partially due to the $8,000 federal tax credit that was made available for first-time homebuyers.  It expired at the end of April.

Another positive note for sellers is that the average sales price of homes rose by almost 4%.  The majority of homes sold in the $200,000 to $350,000 range.

To find out more about the area real estate industry that is finally bouncing back, read this Gazette article.



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