The Long & Foster Market Minute

Focus On: Annandale Housing Market August 2018

Zip Code(s): 22003
Units Sold
69
Active Inventory
119
Median Sale Price
$540,000
Days On Market
19
Up
Vs. Year Ago
Down -24%
Vs. Year Ago
Up 15%
Vs. Year Ago
Down -32%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 69 sold this month in Annandale Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 38 units or 24%. The total number of active inventory this August was 119 compared to 157 in August 2017. This month's total of 119 is higher than the previous month's total supply of available inventory of 115, an increase of 3%.

Median Sale Price
Last August, the median sale price for Annandale Homes was $467,812. This August, the median sale price was $540,000, an increase of 15% or $72,188 compared to last year. The current median sold price is 5% higher than in July.

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


New Listings
71
Current Contracts
47
Sold Vs. List Price
99.4%
Months of Supply
1.7
Down -10%
Vs. Year Ago
Down -6%
Vs. Year Ago
No Change
Vs. Year Ago
Down -52%
Vs. Year Ago

Months of Supply
In August, there was 1.7 months of supply available in Annandale, compared to 3.6 in August 2017. That is a decrease of 52% 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 71 homes newly listed for sale in Annandale compared to 79 in August 2017, a decrease of 10%. There were 47 current contracts pending sale this August compared to 50 a year ago. The number of current contracts is 6% lower than last August.

Sale Price to List Price Ratio
In August, 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 19, lower than the average last year, which was 28, a decrease of 32%.

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.