The Long & Foster Market Minute

Focus On: Manassas Park City Housing Market October 2017

Units Sold
19
Active Inventory
41
Median Sale Price
$245,000
Days On Market
21
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down
Vs. Year Ago
Down -2%
Vs. Year Ago
Down
Vs. Year Ago
Down -22%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in October, with 19 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 October 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 1 units or 2%. The total number of active inventory this October was 41 compared to 42 in October 2016. This month's total of 41 is lower than the previous month's total supply of available inventory of 52, a decrease of 21%.

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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last October, the median sale price for Manassas Park City Homes was $262,702. This October, the median sale price was $245,000, a decrease of $17,702 compared to last year. The current median sold price is lower than in September.

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
14
Current Contracts
18
Sold Vs. List Price
98.5%
Months of Supply
2.2
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -33%
Vs. Year Ago
Down -25%
Vs. Year Ago
No Change
Vs. Year Ago
Up 13%
Vs. Year Ago

Months of Supply
In October, there was 2.2 months of supply available in Manassas Park City, compared to 1.9 in October 2016. That is an increase of 13% 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 14 homes newly listed for sale in Manassas Park City compared to 21 in October 2016, a decrease of 33%. There were 18 current contracts pending sale this October compared to 24 a year ago. The number of current contracts is 25% lower than last October.

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Sale Price to List Price Ratio
In October, the average sale price in Manassas Park City was 98.5% 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 21, lower than the average last year, which was 27, a decrease of 22%.

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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.