What’s a typical buyer vs. seller market range for months of supply?

As a rule of thumb, around 4–6 months is often considered closer to balanced, below that tends to favor sellers, and above that tends to favor buyers. Exact thresholds vary by area and price range.

Why is the median list price different from the median sold price?

List prices reflect what sellers are asking right now; sold prices reflect what buyers actually paid on closed transactions. The gap can widen when sellers are optimistic, when inventory shifts toward higher-priced homes, or when pricing is adjusting.

Woodbridge VA Home Buying Tips: Expert Advice from Johnny Sarkis

Woodbridge VA Home Buying/Selling Tips: Expert Advice from Johnny Sarkis

Is the Manassas City housing market a buyer's or seller's market right now?

Q: What does “months of supply” mean?

Months of supply estimates how long it would take to sell the current inventory at the recent sales pace. Lower numbers usually indicate a more seller-leaning market; higher numbers often indicate a more buyer-leaning market.

Johnny Sarkis
Jan 12
4 min read

Right now, Manassas City leans seller-favored, mainly because supply is tight. The latest report shows 1.5 months of supply with 55 homes in inventory at month-end, which typically means buyers face more competition and sellers have more leverage—especially for well-priced homes.

Is the Manassas City housing market a buyer's or seller's market right now?

Months of supply is low (1.5) → generally seller-leaning conditions.
Inventory is limited (55 end-of-month; 53 current snapshot shown) → fewer choices for buyers.
Median sold price is $455,450 (recent closed-month data) → pricing remains firm.
DOM is about 30 days (CDOM 40) → homes aren't sitting forever, but it's not instant either.
New listings and pendings matter: 28 new listings and 11 pending sales in the latest closed month shown—useful for gauging near-term momentum.

Expanded Explanation

When people say "buyer's market" or "seller's market," they're really asking one thing: Who has the leverage right now? In Manassas City, the clearest leverage signal in your report is months of supply (MSI).

Why 1.5 months of supply is the big deal

Your report shows 1.5 months supply along with 55 homes in inventory at the end of the month.

In plain English: if listings stopped tomorrow and buyers kept purchasing at the recent pace, inventory would be absorbed quickly. According to the National Association of Realtors' market conditions analysis, months of supply below 3 typically indicates seller-favored conditions. That usually creates conditions where:

Good listings get attention fast
Pricing holds up better
Sellers can be pickier about terms (closing date, contingencies)
Buyers need preparation (financing, timelines, decision-making)

Pricing and "what's actually happening" vs. "what sellers hope"

The report shows a median sold price of $455,450 for the latest closed month shown. It also shows a median list price snapshot around $532,470 (current snapshot displayed).

Those are not supposed to match perfectly. They measure different things:

Sold price = what closed (often negotiated weeks earlier)
List price = what's being asked today (current seller expectations + current inventory mix)

This gap can mean higher-priced homes are on the market right now, sellers are pricing optimistically, or the live inventory mix differs from what recently closed. The practical takeaway is simple: buyers should anchor decisions on comparable closed sales, while sellers should price for today's competition, not last year's headlines. Understanding effective negotiation strategies helps both buyers and sellers navigate pricing discussions successfully.

Days on market: competitive, but not chaotic

Your report shows DOM around 30 (with CDOM 40). That usually means:

Homes that are well-priced and well-presented can still move quickly.
Homes that are overpriced or condition-challenged may sit and require reductions or concessions.
There's still room for strategy—this isn't purely a "list it and forget it" environment.

Redfin's Manassas market data provides additional context on how days on market trends compare to neighboring Prince William County communities.

"Johny Sarkis is the best and only realtor I have used for over 25 years. He is professional, caring, prompt and goes way beyond his scope to answer my questions. Simply the best!!"

Misconceptions and key insights

Misconception #1: "Low inventory means every home will get multiple offers." Not always. Low supply creates advantage, but pricing and condition still matter. A home can absolutely miss the market if it's priced ahead of reality.

Misconception #2: "If it's seller's market, buyers have no negotiating power." Buyers can still negotiate—just not the same way. Leverage often shows up in:

inspection negotiation on real issues
closing timeline flexibility
selecting listings that have been sitting longer than average DOM

Misconception #3: "List price = market value." List price is a strategy. Market value shows up in closed comps and what buyers are actually willing (and able) to pay.

Important considerations (what to do with this info)

If you're buying in Manassas City

Get pre-approved (or proof of funds) before touring seriously. Learn more about preparing to purchase in competitive markets.
Decide your "must-haves" vs. "nice-to-haves" in advance.
If you're trying to win, focus on clean terms (timelines, fewer unknowns), not just price.

If you're selling in Manassas City

Price against today's active competition and the most relevant recent closed comps.
Presentation matters more when buyers have fewer options—strong photos, clean condition, and easy showing access can widen your buyer pool.
Plan for the likely buyer questions (roof age, HVAC age, disclosures, HOA details if applicable).

For insights on how Prince William County market dynamics (which includes Manassas City) affect timing decisions, understanding broader regional trends can provide valuable context.

"Johny Sarkis is the best and only realtor I have used for over 25 years. He is professional, caring, prompt and goes way beyond his scope to answer my questions. Simply the best!!"

FAQ

Q: What does "months of supply" mean? A: It estimates how long it would take to sell current inventory at the recent sales pace. Lower months of supply usually points to a seller-leaning market. The Consumer Financial Protection Bureau's housing market glossary provides helpful definitions of key market indicators.

Q: Is Manassas City "balanced" right now? A: Based on 1.5 months of supply, it's generally not balanced—conditions lean toward sellers.

Q: Why does the report show a different median list price vs. median sold price? A: List prices reflect today's active inventory and seller expectations; sold prices reflect what actually closed (often negotiated earlier). The mix of homes can also differ.