The Long & Foster Market Minute

Focus On: Chantilly and South Riding Housing Market December 2022

Zip Code(s): 20152
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Down -22%
Vs. Year Ago
Down -9%
Vs. Year Ago
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in December, with 23 sold this month in Chantilly and South Riding Real Estate. This month's total units sold was lower than at this time last year, a decrease from December 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 2 units or 22%. The total number of active inventory this December was 7 compared to 9 in December 2021. This month's total of 7 is lower than the previous month's total supply of available inventory of 17, a decrease of 59%.

Median Sale Price
Last December, the median sale price for Chantilly and South Riding Homes was $657,990. This December, the median sale price was $600,000, a decrease of 9% or $57,990 compared to last year. The current median sold price is 4% lower than in November.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -64%
Vs. Year Ago
Down -50%
Vs. Year Ago
Down -2.4%
Vs. Year Ago
Up 50%
Vs. Year Ago

Months of Supply
In December, there was 0.3 months of supply available in Chantilly and South Riding, compared to 0.2 in December 2021. That is an increase of 52% 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 9 homes newly listed for sale in Chantilly and South Riding compared to 25 in December 2021, a decrease of 64%. There were 13 current contracts pending sale this December compared to 26 a year ago. The number of current contracts is 50% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Chantilly and South Riding was 98.8% of the average list price, which is 2.4% lower than at this time last year.

Days on Market
This month, the average number of days on market was 30, higher than the average last year, which was 13. This increase was impacted by the limited number of sales.

The Long & Foster Market Minute Chantilly and South Riding are defined as properties listed in zip code/s 20152.
*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.