The Long & Foster Market Minute

Focus On: Prince William County Housing Market December 2020

Units Sold
721
Active Inventory
223
Median Sale Price
$422,175
Days On Market
13
Up 30%
Vs. Year Ago
Down -63%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -55%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 721 sold this month in Prince William County Real Estate versus 692 last month, an increase of 4%. This month's total units sold was higher than at this time last year, an increase of 30% versus December 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 381 units or 63%. The total number of active inventory this December was 223 compared to 604 in December 2019. This month's total of 223 is lower than the previous month's total supply of available inventory of 367, a decrease of 39%.

Median Sale Price
Last December, the median sale price for Prince William County Homes was $379,495. This December, the median sale price was $422,175, an increase of 11% or $42,680 compared to last year. The current median sold price is 3% 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.


New Listings
466
Current Contracts
522
Sold Vs. List Price
101.0%
Months of Supply
0.3
Up 43%
Vs. Year Ago
Up 44%
Vs. Year Ago
Up 1.5%
Vs. Year Ago
Down -72%
Vs. Year Ago

Months of Supply
In December, there was 0.3 months of supply available in Prince William County, compared to 1.1 in December 2019. That is a decrease of 72% 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 466 homes newly listed for sale in Prince William County compared to 327 in December 2019, an increase of 43%. There were 522 current contracts pending sale this December compared to 363 a year ago. The number of current contracts is 44% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Prince William County was 101.0% of the average list price, which is 1.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 13, lower than the average last year, which was 29, a decrease of 55%.

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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.