WOODBRIDGE, VA. August 25, 2016—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.
July 2016 residential real estate sales have begun to taper off for this year’s peak market season. A total of 836 homes were sold in July 2016, a decrease slightly under 3 percent compared to July 2015 closed sales. The number of new pending decreased minimally by less than 1 percent year-over-year, from 868 pending to 860. Active listings fell again this month with 1,679 active listings in July, compared to 2,266 in 2015. New listings also fell this month by nearly 14 percent year-over-year, from 1,230 new listings to 1,059. The median sold price of homes continues to be positive, increasing 3 percent to $329,500 as compared to last year ($320,000).
REALTOR® Association of Prince William CEO April McMillan says, “The Prince William County residential real estate market has begun to cool off as the third quarter begins, much like the rest of Virginia. Following the market peak in June, July 2016 sales began their seasonal taper reflective in closed home sales, new and active listings as well as new pending. On a positive note, we continue to see a steady increase in the median sold price for homes up nearly $10,000 compared to July 2015.”
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.
Contact: Amanda Webster
Events & Marketing Director
REALTOR® Association of Prince William
Phone: office (703) 565-0033