Tue Mar 31 2020
This week the median list price for Manassas, VA is $506,495 with the market action index hovering around 69. This is an increase over last month's market action index of 63. Inventory has held steady at or around 72.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$506,495|
|Per Square Foot||$163|
|Days on Market||113|
|Strong Seller's Market|
While this week the median didn’t fluctuate much, we are relatively close to the market’s price high-point. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$718,950||5,417||1 - 2.5 acres||4||3||11||2||4||200|
|$552,250||3,152||0.25 - 0.5 acre||4||2||19||5||3||167|
|$449,999||2,499||0.25 - 0.5 acre||4||2||39||11||4||35|
|$369,624||1,592||0.25 - 0.5 acre||3||2||56||7||5||47|