Homes Spending More Time On The Market In Prince William County

PRINCE WILLIAM COUNTY, VA — The real estate market in Prince William County is slowing down, even as prices continue to rise, according to the February market report from the Prince William Association of Realtors.

The Realtors' Association releases a report each month detailing the several market indicators for the previous month. The association compared each market indicator from February 2023 to February 2022 levels.

Throughout Prince William County, 323 homes were sold in February, a 25 percent decrease over 2022's sales. The number of new listings decreased by 42 percent, from 620 homes on the market in 2022 to 362 this year.

At the end of the month, there were 333 active listings in 2023. In February 2022, there were only 174 active listings at the end of the month.

Homes throughout the county are spending much more time on the market. Last month, the average home spent 33 days on the market. In 2022, the average home spent only 12 days on the market.

The cost of homes is still increasing. Last month, the median home price in Prince William County was $505,000, a 9.8 percent increase over last year's levels.

More information is available in the Realtors association report.