WOODBRIDGE, VA. March 28, 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.
A total of 447 homes were sold in February 2017, a slight increase of 1.8 percent compared to February 2016 closed sales. New listings also increased this month by 7.5 percent with 836 new listings in 2017, compared to 778 in 2016. The number of new pending decreased by 5 percent year-over-year, from 746 pending to 709. Active listings fell again with 1,000 active listings this month, compared to 1,247 in 2016. The median sold price of homes has begun to increase year-over-year to $320,000 as compared to last year ($310,000).
REALTOR® Association of Prince William CEO April Thomas says, “Residential real estate sales continue to indicate a year of market strength. As interest rates rise, buyer urgency continues to characterize the Virginia residential market, as demand exceeds limited inventory and buyers are compelled to act on still advantageous rates.”
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.