The Long & Foster Market Minute

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

Zip Code(s): 22206 and 22202
Units Sold
51
Active Inventory
68
Median Sale Price
$476,000
Days On Market
43
Down -4%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -30%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 51 sold this month in Shirlington, Fairlington, and Crystal City Real Estate versus 44 last month, an increase of 16%. This month's total units sold was lower than at this time last year, a decrease of 4% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 8 units or 11%. The total number of active inventory this October was 68 compared to 76 in October 2017. This month's total of 68 is lower than the previous month's total supply of available inventory of 74, a decrease of 8%.

Median Sale Price
Last October, the median sale price for Shirlington, Fairlington, and Crystal City Homes was $428,500. This October, the median sale price was $476,000, an increase of 11% or $47,500 compared to last year. The current median sold price is 9% 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
64
Current Contracts
53
Sold Vs. List Price
99.3%
Months of Supply
1.3
Up 8%
Vs. Year Ago
Down -13%
Vs. Year Ago
No Change
Vs. Year Ago
Down -7%
Vs. Year Ago

Months of Supply
In October, there was 1.3 months of supply available in Shirlington, Fairlington, and Crystal City, compared to 1.4 in October 2017. That is a decrease of 7% 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 64 homes newly listed for sale in Shirlington, Fairlington, and Crystal City compared to 59 in October 2017, an increase of 8%. There were 53 current contracts pending sale this October compared to 61 a year ago. The number of current contracts is 13% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Shirlington, Fairlington, and Crystal City was 99.3% 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 43, lower than the average last year, which was 61, a decrease of 30%.

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 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.