The Long & Foster Market Minute
Focus On: Manassas Park City Housing Market August 2014
Units Sold
15
Active Inventory
57
Median Sale Price
$260,000
Days On Market
35
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down
Vs. Year Ago
Up 24%
Vs. Year Ago
Up 16%
Vs. Year Ago
Up
Vs. Year Ago
Units Sold
With relatively few transactions, there was a decrease in total units sold in August, with 15 sold this month in Manassas Park City Real Estate. This month's total units sold was lower than at this time last year, a decrease from August 2013.

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Active Inventory
Versus last year, the total number of homes available this month is higher by 11 units or 24%. The total number of active inventory this August was 57 compared to 46 in August 2013. This month's total of 57 is higher than the previous month's total supply of available inventory of 52, an increase of 10%.

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Median Sale Price
Last August, the median sale price for Manassas Park City Homes was $225,000. This August, the median sale price was $260,000, an increase of 16% or $35,000 compared to last year. The current median sold price is 2% higher than in July.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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New Listings
37
Current Contracts
18
Sold Vs. List Price
98.7%
Months of Supply
3.8
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 42%
Vs. Year Ago
Up 50%
Vs. Year Ago
Down -1.7%
Vs. Year Ago
Up 90%
Vs. Year Ago
Months of Supply
In August, there was 3.8 months of supply available in Manassas Park City, compared to 2.0 in August 2013. That is an increase of 90% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

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New Listings & Current Contracts
This month there were 37 homes newly listed for sale in Manassas Park City compared to 26 in August 2013, an increase of 42%. There were 18 current contracts pending sale this August compared to 12 a year ago. The number of current contracts is 50% higher than last August.

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Sale Price to List Price Ratio
In August, the average sale price in Manassas Park City was 98.7% of the average list price, which is 1.7% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 35, higher than the average last year, which was 17. This increase was impacted by the limited number of sales.

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*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by MRIS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate, Inc.