Is Manassas, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$508,501
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Manassas have sold for 7.1% more than they did a year ago.
Summary: The median home sold price in Manassas was $508,501 in March 2024, up 7.1% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $191K | $213.5K | +11.8% |
| 2 Bedrooms | $290K | $310K | +6.9% |
| 3 Bedrooms | $414.5K | $436.1K | +5.2% |
| 4 Bedrooms | $580K | $604K | +4.1% |
| 5+ Bedrooms | $691.5K | $723.3K | +4.6% |
Summary: Manassas housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.8%, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 4.6%.
Median Sold Price Compared To Nearby Cities
| Manassas | $469.9K | $521.6K | +11.0% |
| Manassas Park | $400K | $440K | +10.0% |
| Manassas | $475K | $508.5K | +7.1% |
| Coles | $559.4K | $589.9K | +5.4% |
| Brentsville | $618.7K | $646.8K | +4.5% |
Housing Supply in Manassas, VA
How many homes are available in Manassas, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 478 | 525 | +9.8% |
Summary: The Manassas real estate market had 525 homes for sale in March 2024, a 9.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 52 | 56 | +7.7% |
| 3 Bedrooms | 165 | 181 | +9.7% |
| 4 Bedrooms | 164 | 168 | +2.4% |
| 5+ Bedrooms | 93 | 115 | +23.7% |
Summary: The Manassas housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 23.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 92 | 96 | +4.3% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
60 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manassas, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 96 homes were sold or pending in Manassas in March 2024, up by 4.3% month-over-month. Of the 96 sold homes, 17% were sold under asking, 21% were sold at asking, and 63% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 21 Days | 17 Days | -18.9% |
Summary: Homes in Manassas had an average of 17 days on market in Mar 2024, down by 18.9% compared to last year.
Breakdown of Home Sale Times
83 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
6 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 March 2024, 96 homes were sold in Manassas; 86% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
