Is Manassas, 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 has remained a Seller's Market.
Key Takeaway
Manassas is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Manassas, VA
How much do homes in Manassas, VA cost?
Median Sold Price
$510,000
$247/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Manassas have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Manassas was $510,000 in May 2024, up 6.8% from last year, and the median price per square foot was $247.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $190K | $212K | +11.6% |
| 2 Bedrooms | $295K | $311K | +5.4% |
| 3 Bedrooms | $420K | $444.1K | +5.8% |
| 4 Bedrooms | $576.6K | $613K | +6.3% |
| 5+ Bedrooms | $715K | $710K | -0.7% |
Summary: Manassas housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.6%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 0.7%.
Median Sold Price Compared To Nearby Cities
| Manassas | $483.7K | $525.1K | +8.6% |
| Brentsville | $614.5K | $666.2K | +8.4% |
| Manassas | $477.3K | $510K | +6.8% |
| Coles | $563.3K | $600K | +6.5% |
| Manassas Park | $424.9K | $449.4K | +5.8% |
Housing Supply in Manassas, VA
How many homes are available in Manassas, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 367 | 427 | +16.3% |
Summary: The Manassas real estate market had 427 homes for sale in May 2024, a 16.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 50 | 48 | -4.0% |
| 3 Bedrooms | 137 | 153 | +11.7% |
| 4 Bedrooms | 110 | 141 | +28.2% |
| 5+ Bedrooms | 67 | 82 | +22.4% |
Summary: The Manassas 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 4%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 28.2%, and 5+ bedroom homes increased by 22.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 127 | 115 | -9.4% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
75 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manassas, you could pay more than the asking price. 65.2% of homes here sold above asking price last month.
Summary: A total of 115 homes were sold or pending in Manassas in May 2024, down by 9.4% month-over-month. Of the 115 sold homes, 19% were sold under asking, 16% were sold at asking, and 65% were sold over asking.
Days on Market for Manassas, VA
How long does it take to sell a home in Manassas, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 8 Days | -31.4% |
Summary: Homes in Manassas had an average of 8 days on market in May 2024, down by 31.4% compared to last year.
Breakdown of Home Sale Times
109 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Manassas are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 115 homes were sold in Manassas; 95% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
