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 614 homes were sold in December 2017, an increase of 8.7 percent compared to December 2016 closed sales. New listings decreased by 2.4 percent year-over-year, from 449 new listings to 438. The number of new pending was down this month by 14.7 percent also year-over-year, from 532 pending to 454. Active listings were lower with 887 active listings in December 2017, compared to 1,040 in 2016. The median sold price of homes showed positive growth this month, increasing 5.0 percent to $345,450 as compared to last year ($329,000).
According to the Fourth Quarter and Year End 2017 Home Sales Report released by the Virginia REALTORS®, Virginia’s fourth quarter residential real estate market capped off a year of growth despite persistent inventory constraints. Both the number of sales and the median price grew notably from 2016. Along with steep declines in the average number of days properties stayed on the market, performance metrics at year end indicate sustained intensity in demand and buyer willingness to tolerate premiums in order to secure transactions.