The Long & Foster Market Minute

Focus On: Manassas Park City Housing Market March 2018

Units Sold
17
Active Inventory
22
Median Sale Price
$280,000
Days On Market
29
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -43%
Vs. Year Ago
Down -35%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -41%
Vs. Year Ago

Units Sold
The number of units sold remained stable in March, with 17 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 46% versus March 2017.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 12 units or 35%. The total number of active inventory this March was 22 compared to 34 in March 2017. This month's supply remained stable as compared to last month.

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Median Sale Price
Last March, the median sale price for Manassas Park City Homes was $258,450. This March, the median sale price was $280,000, an increase of 8% or $21,550 compared to last year. The current median sold price is 3% lower 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.

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New Listings
21
Current Contracts
19
Sold Vs. List Price
99.6%
Months of Supply
1.3
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -46%
Vs. Year Ago
Down -34%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Up 14%
Vs. Year Ago

Months of Supply
In March, there was 1.3 months of supply available in Manassas Park City, compared to 1.1 in March 2017. That is an increase of 14% 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 21 homes newly listed for sale in Manassas Park City compared to 39 in March 2017, a decrease of 46%. There were 19 current contracts pending sale this March compared to 29 a year ago. The number of current contracts is 34% lower than last March.

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Sale Price to List Price Ratio
In March, the average sale price in Manassas Park City was 99.6% of the average list price, which is 1.0% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 29, lower than the average last year, which was 49, a decrease of 41%.

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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.