PRINCE WILLIAM COUNTY SEPTEMBER 2023 MARKET STATISTICS
MANASSAS, VA. October 12th – Bright MLS, Smartcharts, a leader in real estate data and insights, has unveiled its September 2023 market report, delivering a comprehensive overview of the local real estate landscape. This report delves into key trends that have shaped the market throughout this period.
According to the data collected, the housing market in Prince William County, Manassas City, and Manassas Park experienced a reduction in closed sales compared to the previous year. There were 437 closed sales, representing a decrease of 30.5% from the previous year. Despite this decrease, the median sold price saw a significant increase. The median sold price for reached $529,245, which is an increase of $39,245 over the previous year.
The number of new listings also declined in 2023. There were 447 new listings, representing a decrease of 37% compared to the previous year. Similarly, the number of active listings decreased by 38.44%, with a total of 506 active listings in the market.
One positive trend observed in the market is the decrease in days on the market. Homes spent an average of 15 days on the market, which is a decrease of 7 days compared to the previous year. This indicates a faster pace of sales and increased demand for properties in the area.
While there has been a decrease in closed sales and new listings, the increase in median sold price and the decrease in days on the market suggest a strong demand for properties. It is important for buyers and sellers to consider these trends when making real estate decisions.
REALTOR® Association of Prince William (PWAR) is the largest professional trade association in Prince William County, representing approximately 1,800 REALTORS® engaged in the residential and commercial real estate business. PWAR serves as an advocate for home-ownership 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.