WOODBRIDGE, VA. November 28, 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.
October 2016 residential real estate sales performed steadily relative to the prior year. A total of 641 homes were sold in October 2016, a substantial increase over 16.5 percent compared to October 2015 closed sales. The number of new pending rose minimally by less than 1 percent year-over-year, from 675 pending to 679. Active listings fell again this month with 1,467 active listings in October, compared to 2,060 in 2015. New listings also fell this month by nearly 14 percent year-over-year, from 899 new listings to 776. The median sold price of homes continues to be positive, increasing 5 percent to $329,000 as compared to last year ($313,450).
REALTOR® Association of Prince William CEO April Thomas says, “Much like the rest of Virginia, October sales in Prince William County reflect buyer eagerness to absorb inventory and take advantage of continued low financing rates. While new and active listings have fallen, the number of closed sales, new pendings and overall median price are encouraging for the season.”
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