REALTOR® Association of Prince William (PWAR) has gathered Prince William County’s most recent market statistics, generated by SmartCharts, an affiliate website of Real Estate Business Intelligence (RBI). The market statistics are gathered through data provided by the Metropolitan Regional Information System (MRIS), which serves as the multiple listing service for Prince William County.
A total of 881 homes were sold in May 2017, an increase of 6.9 percent compared to May 2016 closed sales. The number of new pending increased this month by 5.5 percent year-over-year, from 1,052 pending to 1,110. New listings also increased significantly this month by 14 percent year-over-year, from 1,147 new listings to 1,308. Active listings fell again this month with 1,323 active listings in May, compared to 1,645 in 2016. The median sold price of homes still gains strength, increasing 4.4 percent to $349,900 as compared to last year ($335,000).
According to the May 2017 Home Sales Report released by the Virginia REALTORS®, the residential real estate market continues its steady strengthening with high demand across Virginia’s housing market. April Thomas, CEO of REALTOR® Association of Prince William, states, “Though inventory constraints eased in May, limited supply persists and is applying pressure to both price and the speed of transactions within Prince William County and throughout Virginia. ”
To review May’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 the Prince William County, representing approximately 2,000 REALTORS® engaged in the residential and commercial real estate business. PWAR serves as an advocate for homeownership 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.