The Long & Foster Market Minute

Focus On: Annandale Housing Market June 2018

Zip Code(s): 22003
Units Sold
83
Active Inventory
110
Median Sale Price
$630,000
Days On Market
15
Down -5%
Vs. Year Ago
Down -21%
Vs. Year Ago
Up 12%
Vs. Year Ago
Down -21%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 83 sold this month in Annandale Real Estate versus 82 last month, an increase of 1%. This month's total units sold was lower than at this time last year, a decrease of 5% versus June 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 30 units or 21%. The total number of active inventory this June was 110 compared to 140 in June 2017. This month's total of 110 is lower than the previous month's total supply of available inventory of 117, a decrease of 6%.

Median Sale Price
Last June, the median sale price for Annandale Homes was $565,000. This June, the median sale price was $630,000, an increase of 12% or $65,000 compared to last year. The current median sold price is 10% higher than in May.

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


New Listings
95
Current Contracts
68
Sold Vs. List Price
99.4%
Months of Supply
1.3
Up 19%
Vs. Year Ago
Up 24%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In June, there was 1.3 months of supply available in Annandale, compared to 1.6 in June 2017. That is a decrease of 18% 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 95 homes newly listed for sale in Annandale compared to 80 in June 2017, an increase of 19%. There were 68 current contracts pending sale this June compared to 55 a year ago. The number of current contracts is 24% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Annandale was 99.4% 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 15, lower than the average last year, which was 19, a decrease of 21%.

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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.