Real Estate

Homes in PG County A Strong Investor Buy With Prices Still Off 39.3% From 2006 Levels

Positive indicators about the DC real estate market are all over the news again with a great deal of emphasis on the rise in DC area housing prices, the lack of available homes on the market, and the increases in homes sold per month.

Median home prices for downtown DC, Alexandria and Arlington have all returned to levels either exceeding or almost equal to their peak 2005 – 2006 levels.  Fairfax and Loudoun Counties have improved to near their peak levels, and a mix of other Virginia and Maryland close-in Counties are still a significant ways off prior peaks:

“These are the real numbers that savvy real estate buyers look to. General market trends are great and exciting, but the real estate market in general is driven by the activity and conditions at the neighborhood and street level,” commented Gerard DiRuggierio,  Principal Broker of UrbanLand Company. “There are still pockets of ‘value’ where prices have not risen to prior levels. These represent extremely attractive ‘buys’ for the beginning real estate investor or home buyers seeking lower prices.”

Take PG County in Maryland for example. Median housing prices are currently at just 60.7% of their peak levels.  “Price appreciation is never guaranteed. However, with a market as active and dynamic as the DC area; there is a strong chance that prices will start to rise in PG County as well,” continued DiRuggiero. “If you just cross over the DC border from SE or NE, you’ve got great single family homes in PG just 10 minutes out of the city.”

For the first time home buyer or beginning real estate investor, areas like PG County represent great target areas to seek out value. “We are seeing a flow of our DC 1st time homebuyers starting to look over the line in PG to seek out homes,” concluded DiRuggiero.  “They’re finding that the tradeoff in living right outside the city is a lot more space and home for their money.”

UrbanLand Company is a downtown D.C. based private real estate brokerage serving consumers, real estate investors and developers in DC, Maryland and Virginia. Current listings of PG County investor homes and downtown DC properties can be found here.

Call 202.299.9223 for immediate assistance or email Info@UrbanLandCompany if you require help with your DC/MD/VA real estate needs

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