Annandale, VA - Condo & Coop
In Annandale, VA, the median sold price for Condo & Coop properties for September was $191,950, representing a decrease of 1.5% compared to last month and a decrease of 10.3% from Sep 2015. The average days on market for units sold in September was 50 days, 83% above the 5-year September average of 27 days. There was a 76.9% month over month increase in new contract activity with 23 New Pendings; a 33.3% MoM increase in All Pendings (new contracts + contracts carried over from August) to 28; and a 16.7% increase in supply to 28 active units.
This activity resulted in a Contract Ratio of 1.00 pendings per active listing, up from 0.88 in August and an increase from 0.46 in September 2015. The Contract Ratio is 48% lower than the 5-year September average of 1.92. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.