WOODBRIDGE, VA. June 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 850 homes were sold in May 2018, a decrease of 3.5 percent compared to May 2017 closed sales. New listings decreased slightly as well by 1.0 percent year-over-year, from 1,308 new listings to 1,295. The number of new pending was down this month by 9.6 percent also year-over-year, from 1,110 pending to 1,003. Active listings were comparable with 1,316 active listings in May 2018, compared to 1,323 in 2017. The median sold price of homes showed promising growth this past month, increasing 5.0 percent to $367,500 average as compared to last year ($349,900).

April Thomas, CEO of PWAR notes “According to the REALTORS® Confidence Index survey provided by the National Association of REALTORS®, REALTORS® report low inventory, interest rates, and multiple offers as the major issues affecting transactions in May 2018.”

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.