The Long & Foster Market Minute

FOCUS ON: PRINCE WILLIAM COUNTY HOUSING MARKET APRIL 2024

Units Sold
471
Active Inventory
433
Median Sale Price
$570,000
Days On Market
12
Up 4%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -20%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 471 sold this month in Prince William County Real Estate versus 383 last month, an increase of 23%. This month's total units sold was higher than at this time last year, an increase of 4% versus April 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 92 units or 18%. The total number of active inventory this April was 433 compared to 525 in April 2023. This month's total of 433 is lower than the previous month's total supply of available inventory of 451, a decrease of 4%.

Median Sale Price
Last April, the median sale price for Prince William County Homes was $520,000. This April, the median sale price was $570,000, an increase of 10% or $50,000 compared to last year. The current median sold price is 3% lower than in March.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
586
Current Contracts
532
Sold Vs. List Price
102.3%
Months of Supply
0.9
Down -7%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 1.2%
Vs. Year Ago
Down -20%
Vs. Year Ago

Months of Supply
In April, there was 0.9 months of supply available in Prince William County, compared to 1.2 in April 2023. That is a decrease of 20% 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 586 homes newly listed for sale in Prince William County compared to 628 in April 2023, a decrease of 7%. There were 532 current contracts pending sale this April compared to 543 a year ago. The number of current contracts is 2% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Prince William County was 102.3% of the average list price, which is 1.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 12, lower than the average last year, which was 15, a decrease of 20%.

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.