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 877 homes were sold in July 2017, an increase of 4.9 percent compared to July 2016 closed sales. The median sold price of homes continued to fair positively, increasing 5.9 percent to $349,900 as compared to last year ($329,500). New listings decreased slightly this month by 2.5 percent year-over-year, from 1,059 new listings to 1,032. The number of new pending also decreased this month by 6.5 percent year-over-year, from 860 pending to 804. Active listings fell again this month with 1,476 active listings in July, compared to 1,679 in 2016.
According to the July 2017 Home Sales Report released by the Virginia REALTORS®, there is no slackening in the residential real estate market but declines are typical following the June market peak. April Thomas, CEO of REALTOR® Association of Prince William, notes, “Inventory constraints continue to affect the number of sales as well as drive price upward, as eager buyers demand more than the current market supplies.”