PRINCE WILLIAM COUNTY APRIL 2024 MARKET STATISTICS

MANASSAS, VA. April 10th – Bright MLS, Smartcharts, a leader in real estate data and insights, has released the latest market statistics for March 2024, offering a comprehensive snapshot of the local real estate landscape.

In April 2024, closed sales totaled 525, marking a notable increase of 5.8% compared to April 2023. This rise in closed sales reflects sustained activity and strong buyer interest in the market.

A key indicator of market strength, the median sold price, stayed flat at $560,000 in April 2024 compared to last month, representing an increase of 10.1% from April 2023. This upward trend underscores the continued value appreciation and desirability of properties in our region.

New listings in April 2024 recorded a total of 638, reflecting a substantial increase of 9.4% compared to April 2023.

Active listings stood at 425 in April 2024, marking an increase of 29 listings compared to April 2023.

The average days on market witnessed a decrease of 2 days compared to April 2023.

One of the significant indicators of market balance, the months of inventory, stood at a healthy 0.9 in April 2024. Adding five to seven months of inventory would be a healthier situation. This level of inventory indicates a market environment that provides limited opportunity for buyers while also ensuring competitiveness for sellers.

Moving forward, it’s crucial for buyers and sellers to remain informed and seek advice from a real estate professional to navigate the changing landscape effectively.

REALTOR® Association of Prince William (PWAR) is the largest professional trade association in Prince William County, representing approximately 1,800 REALTORS® engaged in the residential and commercial real estate business. PWAR serves as an advocate for home-ownership and homeowners and represents the interests of property owners in Prince William County and the Commonwealth of Virginia. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.

# # #