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Real Estate Market Update for July 2012 Prince William County, Manassas City & Manassas Park

Real Estate Market Update for July 2012 Prince William County, Manassas City & Manassas Park

Real Estate Market Update for July 2012 Prince William County, Manassas City & Manassas Park

As of August 21, 2012 there are 1,105 homes for sale in Prince William County, 78 homes for sale in Manassas City and 31 homes for sale in Manassas Park for a total of 1,214. This month there are 56 fewer homes to choose from than last month.

Of the 1,214 homes for sale only 141 are marked as potential short sale and 57 are bank owned or foreclosures. This is good for those traditional sellers who are not upside down, good for property values as well as the economy as these distress sales appear to be winding down.

With the low inventory it has helped to push housing prices up. This is a good thing for sellers but not for buyers who has a budge under $200,000. Right now there are only 26 single family homes for sale under $200,000. Of these 26 most will see multipal offers and sell for over listed price. 

Prince William County as a whole has shown an increase Year Over Year of the average sold price. The average list price to sold price has been holding for the last few months at just under 98%.The short supply of homes for sale has created a sellers market which accounts for the list to sold price holding strong.

The graph break's out Prince William County, Manassas City and Manassas Park to give you a snap shot of how many homes sold in the month of July 2012. This information may not be reflective of prices in your specific neighborhood, as that would requires a more detailed report. The graphs are provided by RBI (Real Estate Business Intelligence).

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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