The Long & Foster Market Minute

Focus On: Shirlington, Fairlington, and Crystal City Housing Market May 2018

Zip Code(s): 22206 and 22202
Units Sold
63
Active Inventory
92
Median Sale Price
$425,000
Days On Market
10
Down -18%
Vs. Year Ago
Down -25%
Vs. Year Ago
Down -8%
Vs. Year Ago
Down -44%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 63 sold this month in Shirlington, Fairlington, and Crystal City Real Estate versus 56 last month, an increase of 13%. This month's total units sold was lower than at this time last year, a decrease of 18% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 30 units or 25%. The total number of active inventory this May was 92 compared to 122 in May 2017. This month's total of 92 is lower than the previous month's total supply of available inventory of 94, a decrease of 2%.

Median Sale Price
Last May, the median sale price for Shirlington, Fairlington, and Crystal City Homes was $460,000. This May, the median sale price was $425,000, a decrease of 8% or $35,000 compared to last year. The current median sold price is 3% lower than in April.

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


New Listings
81
Current Contracts
72
Sold Vs. List Price
100.0%
Months of Supply
1.5
Down -21%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago
Down -8%
Vs. Year Ago

Months of Supply
In May, there was 1.5 months of supply available in Shirlington, Fairlington, and Crystal City, compared to 1.6 in May 2017. That is a decrease of 8% 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 81 homes newly listed for sale in Shirlington, Fairlington, and Crystal City compared to 102 in May 2017, a decrease of 21%. There were 72 current contracts pending sale this May, consistent with the volume a year ago. The number of current contracts is 9% higher than last month.

Sale Price to List Price Ratio
In May, the average sale price in Shirlington, Fairlington, and Crystal City was 100.0% 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 10, lower than the average last year, which was 18, a decrease of 44%.

The Long & Foster Market Minute Shirlington, Fairlington, and Crystal City are defined as properties listed in zip code/s 22206 and 22202.
*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.