Annandale Housing Market Update - August 2011
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Change in Change in Change in
New Listings Closed Sales Median Sales Price
- 33.3% + 600.0% - 39.7%
2010 2011 Change
New Listings 165 129 -21.8%
Closed Sales 48 43 -10.4%
Median Price $144,800 $150,445 +3.9
We are nearing fall and the end of the third quarter with housing numbers bouncing up and down. We had more buying activity in August this year but overall closed sales are down ten percent.
As the gap between inventory and closed sales narrows, we are down to 6 months of inventory (3-4 months create a balanced market) buyers may have to move quicker to get the home of their choice.
Prices here in Annandale and across the country are seeing consecutive weeks of improvement indicating that the housing market is trying to stabilize.
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