Over the past two months there has been an increase in new listings coming on the market in the City of Manassas. Compared to August of 2012, this is an increase of 54% in new inventory available to buyers. Is this something sellers should be concerned about? Absolutely not! We are still in a “Seller’s Market”.
Let’s go back in five year increments and look at the inventory and average sales price history for August: 2008 (NL) 126, (ASP) $168,234; 2003 (NL) 83, (ASP) $227,429; 1998 (NL) 67, (ASP) $149,930. One more number to throw out there, the number of active listings at the end of August this year is 75, in 2007 it was 599. As you can see, sellers should be very happy
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
When you live near a metropolis, any talk of the arts has you thinking about the city. It’s where the best museums, galleries, stages and auditoriums tend to be. The suburbs, and especially rural areas are easily dismissed.
You shouldn’t do that this weekend, when one of the area’s best gatherings of performers, dancers, painters and many others takes place. It happens out in Manassas, over 30 miles west of D.C. The event is Arts Alive!, Prince William County’s annual showcase of the art and culture they have to offer.
Arts Alive! is an all-day affair, running Saturday from noon to 8 p.m. It takes places at the Hylton Center, the county’s gleaming new performance arts center, a building
Now that we have avoided jumping off the Fiscal Cliff, the real estate market in Manassas City can continue to climb towards the record "peak" selling prices of 2005 & 2006 where the average sold price of a single family (detached) home was $468,000.
Have you notice all the new construction going on in our City? New construction is so "HOT" the owners of Sunny Brook Golf Driving Range have started a subdivision on the left side of the range. (If you hear someone yell "FORE", you better duck and run for cover!) You might ask, why is new construction important? The answer is, as new home prices increase so do resale prices. This has always been the trend so come on new construction!
The City of Manassas and Manassas Park City are two independent cities 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 of Manassas is an independent city located in the heart of Prince William County, and it is the original County Seat of Prince William County, much as the City of Fairfax, an independent city is the County Seat for Fairfax County.
Today marks one week until one of America’s most celebrated holidays, a day when just about everyone exudes a little Irish -- St Patrick’s Day, of course! And while the best way to celebrate would be to hop on a plane to Dublin, there’s no reason you can’t enjoy the holiday locally. St. Patricks’s Day might be known best for boisterous revelry, but it can still be fun for everyone, young or old.