The Long & Foster Market Minute
Focus On: Manassas Park City Housing Market June 2014
Units Sold
24
Active Inventory
36
Median Sale Price
$240,500
Days On Market
23
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up
Vs. Year Ago
Down -10%
Vs. Year Ago
Down -17%
Vs. Year Ago
Up 44%
Vs. Year Ago
Units Sold
With relatively few transactions, there was a decrease in total units sold in June, with 24 sold this month in Manassas Park City Real Estate. This month's total units sold was higher than at this time last year, an increase from June 2013.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 4 units or 10%. The total number of active inventory this June was 36 compared to 40 in June 2013. This month's total of 36 is lower than the previous month's total supply of available inventory of 54, a decrease of 33%.

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Median Sale Price
Last June, the median sale price for Manassas Park City Homes was $290,000. This June, the median sale price was $240,500, a decrease of 17% or $49,500 compared to last year. The current median sold price is 2% higher than in May.

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
24
Current Contracts
35
Sold Vs. List Price
98.1%
Months of Supply
1.5
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -11%
Vs. Year Ago
Up 119%
Vs. Year Ago
Down -2.3%
Vs. Year Ago
Down -40%
Vs. Year Ago
Months of Supply
In June, there was 1.5 months of supply available in Manassas Park City, compared to 2.5 in June 2013. That is a decrease of 40% 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 24 homes newly listed for sale in Manassas Park City compared to 27 in June 2013, a decrease of 11%. There were 35 current contracts pending sale this June compared to 16 a year ago. The number of current contracts is 119% higher than last June.

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Sale Price to List Price Ratio
In June, the average sale price in Manassas Park City was 98.1% of the average list price, which is 2.3% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 23, higher than the average last year, which was 16, an increase of 44%.

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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.