WOODBRIDGE, VA. October 30, 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 535 homes were sold in September 2018, a decrease of 14.5 percent compared to September 2017 closed sales. The number of new pending decreased as well by 15.9 percent also year-over-year, from 719 pending to 605. New listings saw a small increase of 1.1 percent year-over-year, from 843 new listings to 852. There were more active listings available this year with 1,531 active listings in September 2018, compared to 1,458 in 2017. The median sold price of homes continued to strengthen in September, increasing 9.1 percent to $359,900 as compared to last year ($330,000).
According to the National Association of REALTORS® September 2018 Existing Home Sales Statistics, existing-home sales declined in September after a month of stagnation in August. Lawrence Yun, NAR chief economist, says rising interest rates have led to a decline in sales across all regions of the country. “Rising interests rates coupled with increasing home prices are keeping first-time buyers out of the market, but consistent job gains could allow more Americans to enter the market with a steady and measurable rise in inventory,” says Yun.
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.