The Long & Foster Market Minute

Focus On: Manassas Park City Housing Market March 2021

Units Sold
16
Active Inventory
11
Median Sale Price
$367,500
Days On Market
4
Down -30%
Vs. Year Ago
Down -58%
Vs. Year Ago
Up
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
There was a decrease in total units sold in March, with 16 sold this month in Manassas Park City Real Estate versus 20 last month, a decrease of 20%. This month's total units sold was lower than at this time last year, a decrease of 30% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 15 units or 58%. The total number of active inventory this March was 11 compared to 26 in March 2020. This month's total of 11 is higher than the previous month's total supply of available inventory of 7, an increase of 57%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last March, the median sale price for Manassas Park City Homes was $280,000. This March, the median sale price was $367,500, an increase of $87,500 compared to last year. The current median sold price is 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
26
Current Contracts
21
Sold Vs. List Price
103.5%
Months of Supply
0.7
Down -24%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 3.4%
Vs. Year Ago
Down -39%
Vs. Year Ago

Months of Supply
In March, there was 0.7 months of supply available in Manassas Park City, compared to 1.1 in March 2020. That is a decrease of 39% 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 26 homes newly listed for sale in Manassas Park City compared to 34 in March 2020, a decrease of 24%. There were 21 current contracts pending sale this March compared to 26 a year ago. The number of current contracts is 19% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Manassas Park City was 103.5% of the average list price, which is 3.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 4, lower than the average last year, which was 32. This decrease was impacted by the limited number of sales.

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.