The Long & Foster Market Minute

Focus On: Annandale Housing Market February 2019

Zip Code(s): 22003
Units Sold
39
Active Inventory
53
Median Sale Price
$481,275
Days On Market
52
Up 30%
Vs. Year Ago
Down -35%
Vs. Year Ago
Down -3%
Vs. Year Ago
Up 49%
Vs. Year Ago

Units Sold
There was an increase in total units sold in February, with 39 sold this month in Annandale Real Estate versus 38 last month, an increase of 3%. This month's total units sold was higher than at this time last year, an increase of 30% versus February 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 28 units or 35%. The total number of active inventory this February was 53 compared to 81 in February 2018. This month's total of 53 is lower than the previous month's total supply of available inventory of 64, a decrease of 17%.

Median Sale Price
Last February, the median sale price for Annandale Homes was $498,500. This February, the median sale price was $481,275, a decrease of 3% or $17,225 compared to last year. The current median sold price is 3% lower than in January.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
55
Current Contracts
51
Sold Vs. List Price
99.8%
Months of Supply
1.4
Down -36%
Vs. Year Ago
Down -23%
Vs. Year Ago
No Change
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In February, there was 1.4 months of supply available in Annandale, compared to 2.7 in February 2018. That is a decrease of 50% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 55 homes newly listed for sale in Annandale compared to 86 in February 2018, a decrease of 36%. There were 51 current contracts pending sale this February compared to 66 a year ago. The number of current contracts is 23% lower than last February.

Sale Price to List Price Ratio
In February, the average sale price in Annandale was 99.8% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 52, higher than the average last year, which was 35, an increase of 49%.

The Long & Foster Market Minute Annandale are defined as properties listed in zip code/s 22003.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.