The Long & Foster Market Minute

Focus On: Manassas City Housing Market June 2021

Units Sold
66
Active Inventory
48
Median Sale Price
$408,500
Days On Market
6
Up 14%
Vs. Year Ago
Down -23%
Vs. Year Ago
Up 25%
Vs. Year Ago
Down -65%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 66 sold this month in Manassas City Real Estate versus 72 last month, a decrease of 8%. This month's total units sold was higher than at this time last year, an increase of 14% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 14 units or 23%. The total number of active inventory this June was 48 compared to 62 in June 2020. This month's supply remained stable as compared to last month.

Median Sale Price
Last June, the median sale price for Manassas City Homes was $327,500. This June, the median sale price was $408,500, an increase of 25% or $81,000 compared to last year. The current median sold price is 16% higher than in May.

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


New Listings
96
Current Contracts
89
Sold Vs. List Price
103.5%
Months of Supply
0.7
Up 35%
Vs. Year Ago
Up 29%
Vs. Year Ago
Up 3.6%
Vs. Year Ago
Down -32%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Manassas City, compared to 1.1 in June 2020. That is a decrease of 32% 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 96 homes newly listed for sale in Manassas City compared to 71 in June 2020, an increase of 35%. There were 89 current contracts pending sale this June compared to 69 a year ago. The number of current contracts is 29% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Manassas City was 103.5% of the average list price, which is 3.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 6, lower than the average last year, which was 17, 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.