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 632 homes were sold in October 2017, a decrease of 1.4 percent compared to October 2016 closed sales. New listings decreased as well by 1.9 percent year-over-year, from 776 new listings to 761. Active listings fell again this month with 1,320 active listings in October, compared to 1,467 in 2016. The number of new pending was up this month by 2.8 percent year-over-year, from 679 pending to 698. The median sold price of homes also increased slightly this month, increasing 0.3 percent to $329,950 as compared to last year ($329,000).
According to the October 2017 Home Sales Report released by the Virginia REALTORS®, the residential real estate market is approaching year end with sustained strength. “Month‐to‐month declines at this time of year are typical of the industry seasonality, but historically have been more pronounced.” states REALTOR® Association of Prince William CEO April Thomas. “With rates still low, buyers are eager to move quickly as homes come onto the market.”
To review October’s market statistics, visit our website at www.pwar.com/market-statistics.