The Long & Foster Market Minute

Focus On: Shirlington, Fairlington, and Crystal City Housing Market February 2019

Zip Code(s): 22206 and 22202
Units Sold
24
Active Inventory
15
Median Sale Price
$463,500
Days On Market
14
Down
Vs. Year Ago
Down -55%
Vs. Year Ago
Up 16%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in February, with 24 sold this month in Shirlington, Fairlington, and Crystal City Real Estate. This month's total units sold was lower than at this time last year, a decrease from February 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 18 units or 55%. The total number of active inventory this February was 15 compared to 33 in February 2018. This month's total of 15 is higher than the previous month's total supply of available inventory of 13, an increase of 15%.

Median Sale Price
Last February, the median sale price for Shirlington, Fairlington, and Crystal City Homes was $399,450. This February, the median sale price was approximately the same at $463,500. The current median sold price is 16% higher than in February 2018.

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


New Listings
38
Current Contracts
33
Sold Vs. List Price
102.0%
Months of Supply
0.6
Down -22%
Vs. Year Ago
Down -31%
Vs. Year Ago
Up 2.5%
Vs. Year Ago
Down -20%
Vs. Year Ago

Months of Supply
In February, there was 0.6 months of supply available in Shirlington, Fairlington, and Crystal City, compared to 0.8 in February 2018. That is a decrease of 20% 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 38 homes newly listed for sale in Shirlington, Fairlington, and Crystal City compared to 49 in February 2018, a decrease of 22%. There were 33 current contracts pending sale this February compared to 48 a year ago. The number of current contracts is 31% lower than last February.

Sale Price to List Price Ratio
In February, the average sale price in Shirlington, Fairlington, and Crystal City was 102.0% of the average list price, which is 2.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 14, lower than the average last year, which was 33. This decrease was impacted by the limited number of sales.

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.