According to the Manassas Journal Messenger,
The big difference seems to be price. At the same time Prince William’s sales statistics were soaring 72 percent, median and average sales prices for homes were falling by 34 percent and 31 percent, respectively. In the second quarter of 2008, the county’s median price for a home was $242,232; in the same quarter for 2007, that number stood at $366,845. For the average, the second quarter numbers in Prince William stood at $275,311 in 2008 and $398,775 in 2007.
In this same time period, meanwhile, Northern Virginia’s home prices only dropped on average 12 percent …
Selling everything at bargain blowout prices can’t be good; especially come next year when the County has to assess residential real estate and set the tax rate again.