Manassas, VA Market Report – 3/6/12

06 Mar
March 6, 2012

The City of Manassas and Manassas Park City are two independent sectors located in the heart of Prince William County. The City of Manassas is the original County Seat of Prince William County, much like the City of Fairfax, an independent city, is the County Seat for Fairfax County.  The City has a rejuvenated and revived Old Town Section, with many new and varied restaurants offering a selection from handmade hamburgers to gourmet and ethnic foods. It’s a great place to visit.  Click the link to learn more http://www.visitmanassas.org/camera/

Let’s look at the Statistics -

City of Manassas and Manassas Park City

January 2011 January 2012 % change
Sold Dollar Volume $7,699,540 $7,981,500 3.6%
Avg. sold price $171,101 $190,036 11%
Units Sold 45 42 -6%
Avg. DOM 37 42 13%
Pending Sales 156 160 2%
Active listings 113 71 -37%

 

Surrounding Zip Codes 20109, 20110, 20111, & 20112

January 2011 January 2012 % change
Sold Dollar Volume $23,059,740 $24,048,605 4%
Avg. sold price $205,980 $235,770 14.5%
Units Sold 112 102 -9%
Avg. DOM 60 63 -5%
Pending Sales 376 336 2%
Active listings 283 238 -10%

In Prince William County, the average sold price for the Manassas area has shown a gain year over year of more than 12% compared to the county showing a gain of slightly less than 3%.  Both the County and the Manassas area show a high number of pending sales compared to the number of closed sales.  This is due to the fact that there are still a large number of short sales which remain as pending, in some cases up to 6 months or more, waiting for sale approval by the lender holding the mortgage.

Jim Agnew, Managing Broker, Avery Hess, Realtors, Dulles Regional Office

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