Is Manassas Park, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Manassas Park has remained a Seller's Market.
Key Takeaway
Manassas Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Manassas Park, VA
How much do homes in Manassas Park, VA cost?
Median Sold Price
$449,450
$253/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Manassas Park have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in Manassas Park was $449,450 in May 2024, up 5.8% from last year, and the median price per square foot was $253.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $380K | N/A |
| 2 Bedrooms | $310K | $319K | +2.9% |
| 3 Bedrooms | $402.5K | $413K | +2.6% |
| 4 Bedrooms | $465K | $530K | +14.0% |
| 5+ Bedrooms | $647.5K | $687.5K | +6.2% |
Summary: Manassas Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 14%, and 5+ bedroom homes increased by 6.2%.
Median Sold Price Compared To Nearby Cities
| Manassas | $483.7K | $525.1K | +8.6% |
| Brentsville | $614.5K | $666.2K | +8.4% |
| Gainesville | $559K | $603.1K | +7.9% |
| Manassas | $477.3K | $510K | +6.8% |
| Manassas Park | $424.9K | $449.4K | +5.8% |
Housing Supply in Manassas Park, VA
How many homes are available in Manassas Park, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 53 | 39 | -26.4% |
Summary: The Manassas Park real estate market had 39 homes for sale in May 2024, a 26.4% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 18 | 11 | -38.9% |
| 4 Bedrooms | 17 | 15 | -11.8% |
| 5+ Bedrooms | 11 | 7 | -36.4% |
Summary: The Manassas Park housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 38.9%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes decreased by 36.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 18 | -10.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manassas Park, you could pay more than the asking price. 61.1% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Manassas Park in May 2024, down by 10.0% month-over-month. Of the 18 sold homes, 17% were sold under asking, 22% were sold at asking, and 61% were sold over asking.
Days on Market for Manassas Park, VA
How long does it take to sell a home in Manassas Park, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 11 Days | 12 Days | +14.4% |
Summary: Homes in Manassas Park had an average of 12 days on market in May 2024, up by 14.4% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Manassas Park are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 18 homes were sold in Manassas Park; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
