The Long & Foster Market Minute

Focus On: Prince William County Housing Market June 2021

Units Sold
1,029
Active Inventory
457
Median Sale Price
$482,000
Days On Market
8
Up 26%
Vs. Year Ago
Down -17%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -56%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 1,029 sold this month in Prince William County Real Estate versus 918 last month, an increase of 12%. This month's total units sold was higher than at this time last year, an increase of 26% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 94 units or 17%. The total number of active inventory this June was 457 compared to 551 in June 2020. This month's total of 457 is higher than the previous month's total supply of available inventory of 420, an increase of 9%.

Median Sale Price
Last June, the median sale price for Prince William County Homes was $425,000. This June, the median sale price was $482,000, an increase of 13% or $57,000 compared to last year. The current median sold price is 2% lower 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
1,151
Current Contracts
1,002
Sold Vs. List Price
103.1%
Months of Supply
0.4
Up 36%
Vs. Year Ago
Up 17%
Vs. Year Ago
Up 3.3%
Vs. Year Ago
Down -34%
Vs. Year Ago

Months of Supply
In June, there was 0.4 months of supply available in Prince William County, compared to 0.7 in June 2020. That is a decrease of 34% 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 1,151 homes newly listed for sale in Prince William County compared to 846 in June 2020, an increase of 36%. There were 1,002 current contracts pending sale this June compared to 859 a year ago. The number of current contracts is 17% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Prince William County was 103.1% of the average list price, which is 3.2% 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 18, a decrease of 56%.

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.