December 2012 Real Estate Market Update for Prince William County, Manassas City and Manassas Park

December 2012 Real Estate Market Update for Prince William County, Manassas City and Manassas Park

December has proven to be a very busy month in real estate. There were 479 happy sellers and buyers in the month of December that is 27 more than the prior month. Sale prices ranges from $69,900 - $1,130,000. The average sold price is $309,292. Even though the inventory of homes for sale continues to drop sales have continue to increase.

We currently have 896 homes for sale in all of Prince William County, Manassas City and Manassas Park, 63 fewer homes than in the month of November. Of those 896 homes for sale 48 are in Manassas City and 18 in Manassas Park. 

Foreclosures, Bank Owned and Short Sales have also continued to decline as well. Currently there are 60 Foreclosured or  Bank Owned homes ranging in price from $74,900-$549,000 and 78 Short Sales in all of Prince William County, Manassas City and Manassas Park.

The real estate market has shown a slow but steady increase. In my December 2011 Real Estate Market Update the average sold price was $260,997, one year later there is an 18.5% increase to $309,292.  Based on the low inventory and the continue growth 2013 should continue on the same uphill path.

The grahps below break out the real estate market for Prince William County, Manassas City and Manassas Park giving you a snap shot of how many homes sold in the month of November. This information may not be reflective of homes in your specific neighborhood as that would require a more detailed report. The graph's are provided by RBI (Real Estate Business Intelligence).

Real Estate Market Update for November 2012

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