Real Estate Market Update: June 2012

Real Estate Market Update for June 2012 Prince William County, Manassas City & Manassas Park

As of July 13, 2012 there are 1,126 homes for sale in Prince William County, 94 in Manassas City and 50 in Manassas Park for a total of 1,270. For the second month in a row there's been a slight increase in inventory. This is good for those serious buyers who are having a hard time finding a home due to lack of inventory or because of multiple offer situations.

When you break down the 1,270 homes for sale only 138 are marked as short sale and 62 as foreclosures. According to a recent article from  Daily Real Estate News, "at the end of March, 23.7 percent — or 11.4 million — of home owners with mortgages were considered underwater on their mortgage"—this would account for why we now have more sellers who are not in a financially distressed situation.

Prince William County as a whole has shown an increase year over year of the average sold price. The average list price to sold price has been holding for the last few months at just under 98 percent. The short supply of homes for sale has created a sellers market, which accounts for the list to sold price holding strong.

The graph gives you a snap shot of how many homes sold in the month of June 2012. This information may not be reflective of prices in your specific neighborhood, as that would require a more detailed report. The graphs are provided by Real Estate Business Intelligence.

Thanks for taking the time to read my blog. If you have a real estate question or suggestion for a blog? Send me an email at Home4Sale@mris.com

Susan Jacobs-The Jacobs Team

PrinceWilliamExpert.com

Prudential Pen Fed Realty

Office:703-396-6000

Prince William Chamber of Commerce "Member of the Year 2011"

Your Prince William RealEstate Expert for 20+ years. Let us put our Expertise to work for YOU!

Licensed Real Estate Broker in the Commonwealth of Virginia.