The Long & Foster Market Minute

Focus On: Prince William County, Manassas and Manassas Park Housing Market March 2021

Units Sold
719
Active Inventory
264
Median Sale Price
$435,630
Days On Market
8
Up 3%
Vs. Year Ago
Down -68%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -65%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 719 sold this month in Prince William County, Manassas and Manassas Park Real Estate versus 565 last month, an increase of 27%. This month's total units sold was higher than at this time last year, an increase of 3% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 573 units or 68%. The total number of active inventory this March was 264 compared to 837 in March 2020. This month's total of 264 is lower than the previous month's total supply of available inventory of 284, a decrease of 7%.

Median Sale Price
Last March, the median sale price for Prince William County, Manassas and Manassas Park Homes was $404,500. This March, the median sale price was $435,630, an increase of 8% or $31,130 compared to last year. The current median sold price is 8% higher than in February.

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


New Listings
1,004
Current Contracts
943
Sold Vs. List Price
103.0%
Months of Supply
0.4
Down -9%
Vs. Year Ago
Up 15%
Vs. Year Ago
Up 2.8%
Vs. Year Ago
Down -69%
Vs. Year Ago

Months of Supply
In March, there was 0.4 months of supply available in Prince William County, Manassas and Manassas Park, compared to 1.2 in March 2020. That is a decrease of 70% versus a year ago.

Months of supply 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 1,004 homes newly listed for sale in Prince William County, Manassas and Manassas Park compared to 1,101 in March 2020, a decrease of 9%. There were 943 current contracts pending sale this March compared to 819 a year ago. The number of current contracts is 15% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Prince William County, Manassas and Manassas Park was 103.0% of the average list price, which is 2.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 8, lower than the average last year, which was 23, a decrease of 65%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.