The Long & Foster Market Minute

Focus On: Manassas Park City Housing Market May 2018

Units Sold
15
Active Inventory
36
Median Sale Price
$305,000
Days On Market
12
Down
Vs. Year Ago
Up 16%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -25%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in May, with 15 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 from May 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 5 units or 16%. The total number of active inventory this May was 36 compared to 31 in May 2017. This month's total of 36 is higher than the previous month's total supply of available inventory of 33, an increase of 9%.

Median Sale Price
Last May, the median sale price for Manassas Park City Homes was $281,300. This May, the median sale price was $305,000, an increase of 8% or $23,700 compared to last year. The current median sold price is 10% higher than in April.

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


New Listings
37
Current Contracts
25
Sold Vs. List Price
100.3%
Months of Supply
2.4
Up 48%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 0.9%
Vs. Year Ago
Up 86%
Vs. Year Ago

Months of Supply
In May, there was 2.4 months of supply available in Manassas Park City, compared to 1.3 in May 2017. That is an increase of 86% 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 37 homes newly listed for sale in Manassas Park City compared to 25 in May 2017, an increase of 48%. There were 25 current contracts pending sale this May compared to 24 a year ago. The number of current contracts is 4% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Manassas Park City was 100.3% of the average list price, which is 0.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 12, lower than the average last year, which was 16, a decrease of 25%.

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 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.