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 862 homes were sold in July 2018, a slight decrease of 1.7 percent compared to July 2017 closed sales. The number of new pending increased by 6.8 percent also year-over-year, from 804 pending to 859. New listings saw a small increase of 1.3 percent year-over-year, from 1,032 new listings to 1,045. There were less active listings available this year with 1,445 active listings in July 2018, compared to 1,476 in 2017. The median sold price of homes continued to strengthen in July, increasing 3.1 percent to $359,900 as compared to last year ($349,000).
According to the National Association of REALTORS® July 2018 Existing Home Sales Statistics, existing-home sales in most of the nation subsided for the fourth straight month in July to their slowest pace in over two years. Listings continue to go under contract, which highlights the feedback from Realtors® that buyers are swiftly snatching up moderately-priced properties. Existing supply is still not at a healthy level, and new home construction is not keeping up to meet demand. For prospective first-timers looking to begin their home search this fall, it is expected that competition will remain swift.
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.