The Long & Foster Market Minute

Focus On: Annandale Housing Market November 2017

Zip Code(s): 22003
Units Sold
51
Active Inventory
114
Median Sale Price
$470,000
Days On Market
36
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -2%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 24%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in November, with 51 sold this month in Annandale Real Estate versus 56 last month, a decrease of 9%. This month's total units sold was lower than at this time last year, a decrease of 2% versus November 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 1 units or 1%. The total number of active inventory this November was 114 compared to 115 in November 2016. This month's total of 114 is lower than the previous month's total supply of available inventory of 149, a decrease of 23%.

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Median Sale Price
Last November, the median sale price for Annandale Homes was $456,000. This November, the median sale price was $470,000, an increase of 3% or $14,000 compared to last year. The current median sold price is 10% lower than in October.

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

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New Listings
51
Current Contracts
47
Sold Vs. List Price
98.1%
Months of Supply
2.2
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 11%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -0.8%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In November, there was 2.2 months of supply available in Annandale. The amount of supply is similar compared to 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.

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New Listings & Current Contracts
This month there were 51 homes newly listed for sale in Annandale compared to 46 in November 2016, an increase of 11%. There were 47 current contracts pending sale this November compared to 46 a year ago. The number of current contracts is 2% higher than last November.

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Sale Price to List Price Ratio
In November, the average sale price in Annandale was 98.1% of the average list price, which is 0.8% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 36, higher than the average last year, which was 29, an increase of 24%.

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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.