Buyers are asking, "Where can I find a home to buy in Northern Virginia"?
That's a good question, and I have the answer - "New Construction." With interest rates "still" at historic lows and the lack of inventory of available resale homes, buyers are streaming to new home builders.
"What does this do for homeowners in Manassas Park?"
In general, new construction drives resale home prices, so as builders raise their prices (happening now), it tends to pull resale values up also. Do I hear a "Come on new construction!?"
So, why are buyers flocking to new construction? It's simple - there is a lack of available homes for sale. The chart shows us there was a 20% decrease in new listings on the
Manassas Park City is located in Northern Virginia, and is nestled in between Manassas City and Prince William County. It is a mixture of old post World War II homes and new homes. Manassas Park is strategically located close to Virginia Route 28 and the Prince William Parkway, which makes it an easy commute to Fairfax, Woodbridge, and points west of Prince William County.
Manassas Park is an independent city that is located between the City of Manassas and Prince William County in Northern Virginia. The city is close to Route 28 and I-66, granting easy access to Fairfax and areas north. Manassas Park is also very close to the Prince William County Parkway, which has access to Woodbridge, I-95 and points south. New construction within the city now offers luxury apartments and condos, town center style shopping, and new retail stores--allowing Manassas Park to feature the latest attractions, yet maintain a small town feel.