The Long & Foster Market Minute

Focus On: Annandale Housing Market April 2018

Zip Code(s): 22003
Units Sold
66
Active Inventory
99
Median Sale Price
$477,500
Days On Market
17
Down -1%
Vs. Year Ago
Down -27%
Vs. Year Ago
Down -8%
Vs. Year Ago
Down -29%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 66 sold this month in Annandale Real Estate versus 64 last month, an increase of 3%. This month's total units sold was lower than at this time last year, a decrease of 1% versus April 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 36 units or 27%. The total number of active inventory this April was 99 compared to 135 in April 2017. This month's total of 99 is lower than the previous month's total supply of available inventory of 107, a decrease of 7%.

Median Sale Price
Last April, the median sale price for Annandale Homes was $517,000. This April, the median sale price was $477,500, a decrease of 8% or $39,500 compared to last year. The current median sold price is 12% lower than in March.

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


New Listings
102
Current Contracts
88
Sold Vs. List Price
100.0%
Months of Supply
1.5
Down -9%
Vs. Year Ago
Up 24%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -25%
Vs. Year Ago

Months of Supply
In April, there was 1.5 months of supply available in Annandale, compared to 2.0 in April 2017. That is a decrease of 26% 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 102 homes newly listed for sale in Annandale compared to 112 in April 2017, a decrease of 9%. There were 88 current contracts pending sale this April compared to 71 a year ago. The number of current contracts is 24% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Annandale was 100.0% of the average list price, which is 1.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 17, lower than the average last year, which was 24, a decrease of 29%.

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.