Press release: "The NRP Group has broken ground on Lake Pointe, a market-rate apartment community in Woodbridge. The 15-acre site [at 2580 Caton Hill Road] will be transformed into five four- and five-story buildings comprising 355 units."
"Lake Pointe is situated only twenty miles south of Washington, D.C., in Prince William County. The site is just off the Prince William County Parkway exit on I-95, which sees nearly 160,000 visitors daily."
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Virginia REALTORS: “According to the June 2023 Virginia Home Sales Report released by Virginia REALTORS®, at the end of June, there were 16,246 active listings on the market throughout the state. This is 3,129 fewer listings than last year, more than a 16% reduction.”
“The supply is tight in most parts of Virginia and fewer sellers are listing their homes. New listings in June fell 25% from last year to just 12,135, the lowest June level in more than ten years. The largest decline in supply occurred in Northern Virginia, the Fredericksburg region, and parts of the Richmond Metro Area.
“One factor that’s keeping Virginia’s supply levels low is the ‘lock-in effect’, meaning that many would-be sellers are opting to stay in their homes because of the ultra-low mortgage rates they obtained in 2020 and 2021,” says Virginia REALTORS® 2023 President Katrina M. Smith.”
The Realtor Association of Prince William also reports a decline.
REALTOR Association of Prince William: “Bright MLS, Smartcharts, a leading provider of real estate data and insights, has released its comprehensive report on the latest market statistics for June 2023 in the local area. This highly anticipated release offers valuable insights into the current state of the real estate market and highlights key trends and dynamics that shaped the landscape during this period.”
“The report reveals a significant decline in new listings, closed sales, and active listings in June 2023 compared to the previous year. New listings saw a substantial decrease of 47.03%, with only 579 new listings compared to 1,093 in June 2022. Likewise, closed sales experienced a decline of 21.94%, with 644 closed sales recorded in June 2023 as opposed to 825 in 2022.”
“Despite the decrease in new listings and closed sales, the median sold price displayed a positive trend, increasing by 4.41% to $545,000 in June 2023, up from $522,000 in June 2022. This rise in median sold price demonstrates the ongoing desirability and value of properties in the area.”
The number of homes sold in Prince William County, Virginia, declined by 25% in February.
The Prince William Association of Realtors says:
February of 2023 saw 323 homes sold, a decline of 24.88% from February of 2022. Additionally, new listings decreased by 41.61 percent to 362 from 620 in February 2022.
There were 333 active listings in 2023 as opposed to 174 in 2022, an increase of 91.38%. A 9.78% increase in the median sold price of homes was also reported, increasing from $460,000 to $505,000.
Finally, the average days on the market increased from 12 in 2022 to 33 in 2023.
In January, 299 homes were sold, a noticeable decrease of 25.62% from December of 2022, according to the Prince William Association of Realtors.
The number of new listings decreased by 8.99% to 405 from 445 in December 2022. A total of 342 active listings were listed in 2023 compared to 137 in 2022, a 149.64% increase. ‘
There was also an increase of 3.37% in the median home sold price to $474,999 from $459,500 last year. Finally, the average number of days on the market increased from 18 in 2022 to 39 in 2023.
Review January’s market statistics.
The number of new homes sold in Prince William County fell nearly 30% compared to last year.
According to the latest, just-released statistics, a total of 555 homes sold in August, a decrease of 29.30% percent in comparison to September of 2021. New listings reveal a 28.32% decrease, with 648 new listings as opposed to 904 in September of 2021., the Realtor Association of Prince William tells Potomac Local News.
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A new 819-acre community in North Stafford called the Cascades at Embrey Mill has opened and is looking for residents. The 55+ community features townhomes and elevator flats from builders Miller & Smith and Drees Homes.
Miller & Smith has built a two-level townhome with 2,028 to 2,756 square feet of living space with three bedrooms and two-and-a-half baths, and an optional walkout basement for storage. Miller & Smith is building 78 units now selling with prices starting at $469,990.
“We’re thrilled to announce the opening of Cascades at Embrey Mill,” said Fred Garnes, marketing director at Embrey Mill. “The community offers premier homes for 55+ adults and retirees looking to be closer to family and enjoy an active lifestyle.”
Drees Homes will offer six homes with elevators, ranging from 1,428 to 1,613 square feet. The 168 single-story apartments will feature two- and three-bedroom options, two baths, and a one-car garage. Sales for the luxury flats are anticipated to begin in the summer of 2022.
The 55+ clubhouse, Cascade Club, is slated to open this summer and will include an event kitchen, yoga, weight room, game room, and sundeck. Additional features include pickleball and bocce ball courts, fire pits, and chess boards.
Cascades residents will also have access to Embrey Mill’s 10+ miles of trails, two pools, Grounds Bistro & Cafe, and the community garden.
Embery Mill sits between Route 610 and Courthouse Road in Stafford County.
The REALTOR Association of Prince William (PWAR) has gathered Prince William County’s most recent market statistics, generated by SmartCharts, an affiliate website of Showing Time. The market statistics are gathered through data provided by Bright MLS, which serves as the multiple listing service for Prince William County.
A total of 554 homes were sold in January 2021, a great increase of 33.2 percent compared to January 2020 at 416. The number of contracts pending saw another increase of 5.4 percent year-over-year, from 691 to 728.
New listings also showed an increase year-over-year, with 632 new listings, as opposed to 606 in January 2020. There were also fewer active listings available this year with 205 active listings in January 2021, compared to 515 in 2020.
The median sold price of homes saw a rise in January, increasing 11.4 percent to $402,000 as compared to $361,000 last year. The average number of days on the market reduced to 12 in January 2021, as opposed to 37 in 2020.
To review January’s market statistics, visit our website.
The REALTOR Association of Prince William (PWAR) is the largest professional trade association in Prince William County, representing approximately 2,000 REALTORS engaged in the residential and commercial real estate business. PWAR serves as an advocate for home-ownership and homeowners and represents the interests of property owners in Prince William County.
Realtor Association of Prince William has gathered Prince William County’s most recent housing market statistics which reflect increases in the county’s homes listed and sold.
These statistics were generated by SmartCharts, an affiliate website of Showing Time.
The market statistics are gathered through data provided by Bright MLS, which serves as the multiple listing service for Prince William County.
- A total of 793 homes were sold in September of 2020, a notable increase of 40.6 percent compared to September 2019.
- The number of contracts pending also saw a notable increase at 31.7 percent year-over-year, from 773 to 1,018.
- New listings showed an increase year-over-year, with 909 new listings, as opposed to 708 in September 2019.
- There were also fewer active listings available this year with 383 active listings in September 2020, compared to 954 in 2019.
- The median sold price of homes saw a rise in September, increasing 10.2 percent to $420,000 as compared to $381,000 last year.
To review September’s market statistics, visit the Realtor Association of Prince William website.
