The Long & Foster Market Minute

Focus On: Manassas Park City Housing Market December 2017

Units Sold
18
Active Inventory
27
Median Sale Price
$258,450
Days On Market
56
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up
Vs. Year Ago
Down -34%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in December, with 18 sold this month in Manassas Park City Real Estate. This month's total units sold was higher than at this time last year, an increase from December 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 14 units or 34%. The total number of active inventory this December was 27 compared to 41 in December 2016. This month's total of 27 is lower than the previous month's total supply of available inventory of 34, a decrease of 21%.

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Median Sale Price
Last December, the median sale price for Manassas Park City Homes was $250,000. This December, the median sale price was $258,450, an increase of 3% or $8,450 compared to last year. The current median sold price is 8% higher than in November.

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
10
Current Contracts
14
Sold Vs. List Price
99.1%
Months of Supply
1.5
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -33%
Vs. Year Ago
Down -13%
Vs. Year Ago
No Change
Vs. Year Ago
Down -60%
Vs. Year Ago

Months of Supply
In December, there was 1.5 months of supply available in Manassas Park City, compared to 3.7 in December 2016. That is a decrease of 60% 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 10 homes newly listed for sale in Manassas Park City compared to 15 in December 2016, a decrease of 33%. There were 14 current contracts pending sale this December compared to 16 a year ago. The number of current contracts is 13% lower than last December.

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Sale Price to List Price Ratio
In December, the average sale price in Manassas Park City was 99.1% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 56, higher than the average last year, which was 18. This increase was impacted by the limited number of sales.

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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.