FOR IMMEDIATE RELEASE
WOODBRIDGE, VA. June 17, 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.
May residential real estate sales indicate growth in many facets of the Prince William County housing market. The number of closed sales rose by 11.1 percent year-over-year, from 742 sales to 824. The number of new pending also rose by nearly 12 percent year-over-year, from 940 pending to 1,052. New and active listings fell 17.7 percent and 24.2 percent respectively as compared to May 2015. With limited inventory continuing to pressure sales price, the median price has indicated strengthening which rose to $335,000 up 3 percent from May 2015 ($325,000).
REALTOR® Association of Prince William CEO April McMillan says, “May’s market statistics for Prince William County continue to show a steady increase compared to May of 2015. With the exception of new and active listings, we have seen an increase in the number of new pending and closed sales. As well, the median sold price for homes continues to strengthen as compared to last year.”
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