The Long & Foster Market Minute
Focus On: Manassas Park City Housing Market November 2014
Units Sold
19
Active Inventory
56
Median Sale Price
$288,000
Days On Market
55
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 27%
Vs. Year Ago
Up 51%
Vs. Year Ago
Up
Vs. Year Ago
Up
Vs. Year Ago
Units Sold
There was a decrease in total units sold in November, with 19 sold this month in Manassas Park City Real Estate versus 20 last month, a decrease of 5%. This month's total units sold was higher than at this time last year, an increase of 27% versus November 2013.

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Active Inventory
Versus last year, the total number of homes available this month is higher by 19 units or 51%. The total number of active inventory this November was 56 compared to 37 in November 2013. This month's total of 56 is lower than the previous month's total supply of available inventory of 62, a decrease of 10%.

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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last November, the median sale price for Manassas Park City Homes was $194,900. This November, the median sale price was $288,000, an increase of $93,100 compared to last year. The current median sold price is higher than in October.

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
30
Current Contracts
20
Sold Vs. List Price
98.1%
Months of Supply
2.9
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 58%
Vs. Year Ago
Up 100%
Vs. Year Ago
Down -1.5%
Vs. Year Ago
Up 19%
Vs. Year Ago
Months of Supply
In November, there was 2.9 months of supply available in Manassas Park City, compared to 2.5 in November 2013. That is an increase of 19% 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 30 homes newly listed for sale in Manassas Park City compared to 19 in November 2013, an increase of 58%. There were 20 current contracts pending sale this November compared to 10 a year ago. The number of current contracts is 100% higher than last November.

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Sale Price to List Price Ratio
In November, the average sale price in Manassas Park City was 98.1% of the average list price, which is 1.5% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 55, higher than the average last year, which was 25. 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.