PRINCE WILLIAM COUNTY AUGUST 2022 MARKET STATISTICS
WOODBRIDGE, VA. September 13 –August is officially known as the harvest period. Along with an array of fresh fruits and veggies, the month of August brought in a new set of market statistics. The stats, generated by Virginia REALTORS Chief Economist Ryan Price and SmartCharts, and gathered through data provided by VAR and Bright MLS, give readers a valuable snapshot of what’s growing wildly on the charts, and what’s not.
Slowly sprouting, 612 homes were sold across the month of August, this is a noticeable decrease of 28.8% percent in comparison to August of 2021. New listings reveal a 24.3% decrease with 753 new listings as opposed to 994 in August of 2021. Digging into our active listings, there was a bountiful harvest with 727 listings, a significant 28.7% increase to last year’s 565 active listings. Also, growing at a steady pace is the median sold price of homes, with there being an 8.3% increase to $506,050 as compared to last years $467,250. Finally, as vibrant as a colorful harvest, the average days on the market saw a noticeable increase from 15 in 2021 to 10.
Be sure to catch up with us in October to see how the current housing market has grown in Prince William County.
To review August’s market statistics, visit our website at www.pwar.com/market statistics.
REALTOR® Association of Prince William (PWAR) is the largest professional trade association in Prince William County, representing approximately 2,000 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.
Note: 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.