Real Estate Update: Is It Really a Buyers' Market?

 While most consumers think it's a buyers' market, it's really the sellers who are benefiting. In March Manassas City saw a 37.5 percent increase in the medium sold price, Manassas Park showed a 14.68 percent while Prince William County has a 14.55 percent increase.

Even with low inventory, the spring selling season is upon us. Both Prince William County and Manassas City showed an increase in the number of homes sold month-over-month.

The month of March showed a slight increase in homes being offered for sale. There is currently 1,269 homes for sale with 488 sold the prior month. In my February Real Estate Market Update I reported there were 1224 homes for sale and 427 that had sold.

The graphs break out the various areas within the county, giving you a snap shot of how many homes are for sale, under contract and sold in the month of March 2012. Information is provided by Real Estate Business Intelligence. This may not reflect the prices in your specific neighborhood but provide only a broad overview of the county.