Home Sale Prices up 9% in Manassas Park, Virginia!

The city of Manassas Park, Virginia stunned by a rash of foreclosure's 12 and 18 month's ago, saw average home sale prices surge 9% in one month. Average sold home prices rose to $147,355 in March, from $131,924 in February.

Total units sold jumped 100% over this time last year, rising from 25 units in March 2008, to 50 units in March 2009. Average days on market decreased 32% from 110 this time last year to 75 this year.

Prince William County saw similar gains with the average home sold price increasing to $210,060 in March, from $204,378 in February. Total units sold were up 49% from 502 this time last year, to 750 in March 2009.

In the City of Manassas, Virginia, total units sold rose 64%, year over year, and "active" listings were disappearing rapidly, as 1 out of every 1.9 were currently under contract.

Lower prices and interest rates, combined with the first time home buyer's tax credit contributed to the sales increases in all 3 jurisdictions.