The Long & Foster Market Minute
Focus On: Manassas Park City Housing Market August 2016
Units Sold
23
Active Inventory
46
Median Sale Price
$290,000
Days On Market
40
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -18%
Vs. Year Ago
Down -33%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 5%
Vs. Year Ago
Units Sold
The number of units sold remained stable in August, with 23 sold this month in Manassas Park City Real Estate. This month's total units sold was lower than at this time last year, a decrease of 12% versus August 2015.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 23 units or 33%. The total number of active inventory this August was 46 compared to 69 in August 2015. This month's total of 46 is lower than the previous month's total supply of available inventory of 50, a decrease of 8%.

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Median Sale Price
Last August, the median sale price for Manassas Park City Homes was $280,000. This August, the median sale price was $290,000, an increase of 4% or $10,000 compared to last year. The current median sold price is 9% higher than in July.

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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New Listings
29
Current Contracts
23
Sold Vs. List Price
99.0%
Months of Supply
2.0
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 12%
Vs. Year Ago
Up 35%
Vs. Year Ago
Up 0.9%
Vs. Year Ago
Down -19%
Vs. Year Ago
Months of Supply
In August, there was 2.0 months of supply available in Manassas Park City, compared to 2.5 in August 2015. That is a decrease of 19% 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.

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New Listings & Current Contracts
This month there were 29 homes newly listed for sale in Manassas Park City compared to 26 in August 2015, an increase of 12%. There were 23 current contracts pending sale this August compared to 17 a year ago. The number of current contracts is 35% higher than last August.

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Sale Price to List Price Ratio
In August, the average sale price in Manassas Park City was 99.0% of the average list price, which is 0.8% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 40, higher than the average last year, which was 38, an increase of 5%.

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*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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.