Published on: Wednesday, March 16, 2011

By Alison Kitchens

New pending home sales in Prince George’s County were up more than 50 percent in February from last year, according to a report released last week.

The Washington area showed the largest year-over-year pending sales increase in 10 years stated the report released by real estate tracker Metropolitan Regional Information Systems Inc.

Although pending sales are up from this time last year, selling prices are still down. The average selling price of a home in the county was about $16,000 higher last February, according to the report.

Prince George’s County had the largest increase in pending sales in the D.C. region compared to last year, meaning more potential sales this March, according to the report. Homes also spent almost two weeks less on the market this February compared to last February, according to the report.

Corey Lancaster, an owner at Exit Right Realty in Laurel, said he has been seeing some positive spots in Prince George’s County even though home prices are still down.

“I’m very optimistic about this coming year,” he said. “We have been seeing short sales sell a lot quicker in the market, which is good.”

Lancaster said the sooner short sales and foreclosures get off the market, the better it will be for traditional sellers.

He said because there are still a high number of foreclosures in the county, sellers should try to find inexpensive ways to improve their homes before they are put on the market.

For those interested in putting their homes on the market this spring, Lancaster suggests cleaning and getting all of the clutter out of their homes now.

He also suggests meeting with a realtor to determine what needs to be done to get the maximum amount for the house.

“You really don’t want to over-improve,” he said. “Doing small things like carpeting and painting would really make a dramatic difference.”

Joanne Darling, of Darling Real Estate in Greenbelt, said a lot of people who held back from putting properties on the market before because they weren’t distress sells are ready to sell now.

“We are seeing better consumer confidence than we did this time last year, and that is causing more properties to go under contract,” she said. “Lots of buyers are seeing the opportunity now of really nice properties.”

Darling said she is dealing with a lot of sellers who are selling just because it is time for them to move on, not because they are under foreclosure or have to sell.

“It’s a good time to move into Prince George’s County,” she said.