The Long & Foster Market Minute

Focus On: Arlandria and Del Ray Housing Market October 2017

Zip Code(s): 22305 and 22301
Units Sold
39
Active Inventory
69
Median Sale Price
$660,000
Days On Market
29
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 22%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 39 sold this month in Arlandria and Del Ray Real Estate versus 29 last month, an increase of 34%. This month's total units sold was higher than at this time last year, an increase of 22% versus October 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 October was 69 compared to 70 in October 2016. This month's total of 69 is lower than the previous month's total supply of available inventory of 77, a decrease of 10%.

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Median Sale Price
Last October, the median sale price for Arlandria and Del Ray Homes was $620,000. This October, the median sale price was $660,000, an increase of 6% or $40,000 compared to last year. The current median sold price is 2% 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.

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New Listings
37
Current Contracts
32
Sold Vs. List Price
99.6%
Months of Supply
1.8
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -20%
Vs. Year Ago
Down -30%
Vs. Year Ago
No Change
Vs. Year Ago
Down -19%
Vs. Year Ago

Months of Supply
In October, there was 1.8 months of supply available in Arlandria and Del Ray, compared to 2.2 in October 2016. That is a decrease of 19% 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.

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New Listings & Current Contracts
This month there were 37 homes newly listed for sale in Arlandria and Del Ray compared to 46 in October 2016, a decrease of 20%. There were 32 current contracts pending sale this October compared to 46 a year ago. The number of current contracts is 30% lower than last October.

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Sale Price to List Price Ratio
In October, the average sale price in Arlandria and Del Ray was 99.6% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 29, higher than the average last year, which was 18. This increase was impacted by the limited number of sales.

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The Long & Foster Market Minute Arlandria and Del Ray are defined as properties listed in zip code/s 22305 and 22301.
*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.