WOODBRIDGE, VA. January 26, 2017—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.
December 2016 residential real estate sales began to see the seasonal taper for this year’s end of 2016. A total of 565 homes were sold in December 2016, a decrease of 7.4 percent compared to December 2015 closed sales. The number of new pending increased by 5.6 percent year-over-year, from 504 pending to 532. Active listings fell again this month with 1,040 active listings in December, compared to 1,548 in 2015. New listings also fell this month by 7.2 percent year-over-year, from 485 new listings to 449. The median sold price of homes continues to be positive, increasing 6.2 percent to $329,000 as compared to last year ($309,900).
REALTOR® Association of Prince William CEO April Thomas says, “The Prince William County residential real estate market closed off 2016 with an expected slow finish. December 2016 sales show a decline compared to the previous year but buyers who did close in December took advantage of low interest rates. While inventory may be lower this year, the number of new pending sales and median sales price continue to rise.”
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.