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
$525,171
$247/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Manassas have sold for 8.6% more than they did a year ago.
Summary: The median home sold price in Manassas was $525,171 in May 2024, up 8.6% 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 | $186K | $211K | +13.4% |
| 2 Bedrooms | $299.5K | $310K | +3.5% |
| 3 Bedrooms | $424.9K | $451.6K | +6.3% |
| 4 Bedrooms | $570K | $617.5K | +8.3% |
| 5+ Bedrooms | $750K | $723.8K | -3.5% |
Summary: Manassas housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.4%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes decreased by 3.5%.
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% |
| Manassas Park | $424.9K | $449.4K | +5.8% |
| Bristow | $635K | $645.6K | +1.7% |
Housing Supply in Manassas, VA
How many homes are available in Manassas, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 314 | 391 | +24.5% |
Summary: The Manassas real estate market had 391 homes for sale in May 2024, a 24.5% 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 | 43 | 42 | -2.3% |
| 3 Bedrooms | 120 | 144 | +20.0% |
| 4 Bedrooms | 91 | 126 | +38.5% |
| 5+ Bedrooms | 57 | 76 | +33.3% |
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 2.3%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 38.5%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 105 | 98 | -6.7% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
65 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manassas, you could pay more than the asking price. 66.3% of homes here sold above asking price last month.
Summary: A total of 98 homes were sold or pending in Manassas in May 2024, down by 6.7% month-over-month. Of the 98 sold homes, 19% were sold under asking, 14% were sold at asking, and 66% 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 | -36.6% |
Summary: Homes in Manassas had an average of 8 days on market in May 2024, down by 36.6% compared to last year.
Breakdown of Home Sale Times
93 Homes Were Sold
Under 30 Days
5 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, 98 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.
