The Long & Foster Market Minute
Focus On: Manassas Park City Housing Market February 2017
Units Sold
21
Active Inventory
21
Median Sale Price
$241,900
Days On Market
30
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down
Vs. Year Ago
Down -61%
Vs. Year Ago
Down
Vs. Year Ago
Down -27%
Vs. Year Ago
Units Sold
With relatively few transactions, there was an increase in total units sold in February, with 21 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 February 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 33 units or 61%. The total number of active inventory this February was 21 compared to 54 in February 2016. This month's supply remained stable as compared to last month.

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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 February, the median sale price for Manassas Park City Homes was $339,000. This February, the median sale price was $241,900, a decrease of $97,100 compared to last year. The current median sold price is lower than in January.

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
24
Sold Vs. List Price
97.9%
Months of Supply
1.0
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 21%
Vs. Year Ago
Up 71%
Vs. Year Ago
No Change
Vs. Year Ago
Down -54%
Vs. Year Ago
Months of Supply
In February, there was 1.0 months of supply available in Manassas Park City, compared to 2.2 in February 2016. That is a decrease of 54% 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 24 in February 2016, an increase of 21%. There were 24 current contracts pending sale this February compared to 14 a year ago. The number of current contracts remained stable as compared to last February.

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Sale Price to List Price Ratio
In February, the average sale price in Manassas Park City was 97.9% 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 30, lower than the average last year, which was 41, a decrease of 27%.

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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.