WOODBRIDGE, VA. July 25, 2018—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 958 homes were sold in June 2018, a decrease of 7.7 percent compared to June 2017 closed sales. The number of new pending decreased as well by 4.0 percent also year-over-year, from 953 pending to 915. New listings saw a slight uptick of a 0.5 percent increase year-over-year, from 1,215 new listings to 1,221. There were more active listings available this year with 1,455 active listings in June 2018, compared to 1,412 in 2017. The median sold price of homes showed continued strength this month, increasing 2.7 percent to $374,950 as compared to last year ($365,00).
According to the June 2018 Home Sales Report released by the Virginia REALTORS®, tight inventory and increasing demand continue to push prices upward. Statewide, this is the 28th straight month that median sales price has risen year-over-year. Despite mortgage rate increases over the past year, financing remains historically affordable and, coupled with Virginia’s low 3.2% unemployment rate and high consumer confidence, continues to encourage market entry.
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.