Prince George's County could have some bargains
The strengthening housing market and low unemployment have made DC a hotbed for residential real estate activity. In fact, in recent months home sales have been skyrocketing, demand dwindling and median prices rising fast. This has many people feel that it is hard to find a good bargain for one of the houses for sale in Washington, DC.
However, if you know where to look, you may yet be able to sniff out a good deal. A recent article in The Washington Post suggests that house-seekers check out Prince George's County. The effects of the recession lingered longer in this region than they did in this suburban Maryland community than they did in northern Virginia regions or in the District itself. As a result, the source reports, foreclosures stayed around a little longer and, by April 2012, the average price of all homes was slashed by almost 50 percent from their pre-recession peak.
While home prices in other areas in the region gathered steam in 2011 and 2012, those in Prince George's County remained relatively low - and provided bargains for intrepid homebuyers.
And, while they are still not apace with others in the area, home prices in Prince George's County have begun to rebound since April, according to the source. If you are looking for a bargain in the DC area, you may want to check out some of the options in this Maryland suburb soon.