Real Estate Market Trend for Bowie, Maryland

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About

Bowie is a city in Prince George’s County, Maryland, United States. The city’s population was 54,727 at the 2010 U.S. Census and 58,904 in 2020. Bowie has grown from a small railroad stop to the largest municipality in Prince George’s County, and the fifth most populous city and the third largest city by area in the U.S. state of Maryland. In 2014, CNN Money ranked Bowie 28th in its Best Places to Live (in the United States) list.

Best things to do in Bowie Maryland

Six Flags America

Six Flags America is a theme park located in the Woodmore CDP of Prince George’s County, Maryland, near Upper Marlboro, and in the Washington, DC metropolitan area. 

Founded as a wildlife center in 1973 by Ross Perot, ABC television operated the park as a drive-through safari called The Largo Wildlife Preserve beginning in 1974 until its closure in 1978. The property was bought by Jim Fowler’s the Wild Kingdom; thereafter the site was converted from a wildlife preserve into a theme park named Wild World gradually over the years. In 1992, the park was renamed Adventure World after being acquired by Premier Parks and ultimately was branded as the 10th Six Flags park when Premier Parks acquired Six Flags Inc. and adopted its name in 1999. 

The “America” in the park’s name was chosen regarding the close proximity to the US capital.

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Glen Echo Park

Glen Echo Park is an arts and cultural center located in Glen Echo, Maryland that, in its former incarnation, was a popular Washington, D.C.-area amusement park that operated for several decades from the early 1900s to the 1960s. The arts and cultural center take their name from the amusement park. Located roughly 9 miles northwest from downtown Washington, D.C., the site of Glen Echo Park was originally conceived and developed as a National Chautauqua Assembly in 1891. Following the foreclosure and sale of the Chautauqua grounds in 1903, leisure facilities were then developed for the growing population of Washington, D.C. In 1911, the site was significantly expanded to become Glen Echo Amusement Park, which operated continuously until its closure in 1968. Today Glen Echo Park is one of the more important cultural resources in the Washington, D.C. area, offering hundreds of classes, workshops, and performances in the visual and performing arts.

Watkins Regional Park

There is Recreation galore, including a miniature train, 2 amazing playgrounds, walking trails & playing fields.

Best Places to Live in Bowie, Maryland

National center – Along the Potomac River between southern Maryland and northern Virginia, inland from the Chesapeake Bay. September, May, and June are the most pleasant months in Bowie, while January and February are the least comfortable months, very cold..

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Real estate market trends Bowie MD.

Units Sold

The number of single family residential units sold remained stable in May, with 97 sold this month in Bowie Maryland Real Estate. This month’s total units sold was lower than at this time last year, a decrease of 29% versus May 2019. This can be due to Covid 19 and the limited residential real estate showings going on nationally.

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best mortgage rate

Active Inventory Bowie Maryland

This year versus last year active inventory.  The total number of homes available this month in Bowie Maryland is lower by 181 units or 69%. The total number of active inventory this May was 83 compared to 264 in May 2019. This month’s total inventory of homes on the market of 83 is lower than the previous month’s total supply of available inventory of 110, a decrease of 25% over the previous year

Median Sale Price Of Residential Real Estate In Bowie Maryland

Last May, the average sale price for a home in Bowie Maryland was $349,900. This May, the median sale price was $379,900, an increase of 9% or $30,000 compared to last year. The current median sold price is 4% higher than in April.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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best mortgage rate

Months of Supply

In May, in Bowie Maryland there were 0.9 months of supply available in Bowie, compared to 1.6 in May 2019. That is a decrease of 45% versus a year ago.

Months of supply of homes is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts

This month there were 132 homes newly listed for sale in Bowie compared to 186 in May 2019, a decrease of 29%. There were 142 current contracts pending sale this May compared to 136 a year ago. The number of current contracts is 4% higher than last May.

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best mortgage rate

Sale Price to List Price Ratio

In May, the average sale price in Bowie Maryland was 99.7% of the average list price, which is similar compared to a year ago.

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Days on Market

This month, the average number of days on market was 22, lower than the average last year, which was 30, a decrease of 27%.

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First Time Home Buyer Loan Options

One of the biggest hurdles for first-time home buyers is financing their purchase. Thankfully, there are numerous loan products and down-payment assistance programs designed to

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