The Long & Foster Market Minute
Focus On: Manassas Park City Housing Market October 2014
Units Sold
18
Active Inventory
58
Median Sale Price
$261,450
Days On Market
29
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -25%
Vs. Year Ago
Up 41%
Vs. Year Ago
Up 24%
Vs. Year Ago
Up 45%
Vs. Year Ago
Units Sold
There was an increase in total units sold in October, with 18 sold this month in Manassas Park City Real Estate versus 15 last month, an increase of 20%. This month's total units sold was lower than at this time last year, a decrease of 25% versus October 2013.

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Active Inventory
Versus last year, the total number of homes available this month is higher by 17 units or 41%. The total number of active inventory this October was 58 compared to 41 in October 2013. This month's total of 58 is lower than the previous month's total supply of available inventory of 66, a decrease of 12%.

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Median Sale Price
Last October, the median sale price for Manassas Park City Homes was $210,500. This October, the median sale price was $261,450, an increase of 24% or $50,950 compared to last year. The current median sold price is 14% higher than in September.

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
31
Current Contracts
28
Sold Vs. List Price
99.3%
Months of Supply
3.2
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 29%
Vs. Year Ago
Up 27%
Vs. Year Ago
No Change
Vs. Year Ago
Up 88%
Vs. Year Ago
Months of Supply
In October, there was 3.2 months of supply available in Manassas Park City, compared to 1.7 in October 2013. That is an increase of 89% 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 31 homes newly listed for sale in Manassas Park City compared to 24 in October 2013, an increase of 29%. There were 28 current contracts pending sale this October compared to 22 a year ago. The number of current contracts is 27% higher than last October.

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Sale Price to List Price Ratio
In October, the average sale price in Manassas Park City was 99.3% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 29, higher than the average last year, which was 20, an increase of 45%.

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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.