The Long & Foster Market Minute

Focus On: Annandale Housing Market October 2018

Zip Code(s): 22003
Units Sold
55
Active Inventory
96
Median Sale Price
$520,000
Days On Market
54
No Change
Vs. Year Ago
Down -37%
Vs. Year Ago
No Change
Vs. Year Ago
Down -17%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 55 sold this month in Annandale Real Estate, an increase of 45%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is lower by 57 units or 37%. The total number of active inventory this October was 96 compared to 153 in October 2017. This month's total of 96 is lower than the previous month's total supply of available inventory of 112, a decrease of 14%.

Median Sale Price
Last October, the median sale price for Annandale Homes was $519,000. This October, the median sale price was $520,000, which is similar compared to a year ago. The current median sold price is 7% higher than in September.

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
43
Sold Vs. List Price
99.2%
Months of Supply
1.7
Down -17%
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -37%
Vs. Year Ago

Months of Supply
In October, there was 1.7 months of supply available in Annandale, compared to 2.8 in October 2017. That is a decrease of 37% 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 66 in October 2017, a decrease of 17%. There were 43 current contracts pending sale this October compared to 51 a year ago. The number of current contracts is 16% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Annandale was 99.2% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 54, lower than the average last year, which was 65, a decrease of 17%.

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.