november 2016

townhouse market update for Springfield, Burke, Annandale, and Lorton





Springfield, VA

The median sold price for Attached/Townhouse properties for October was $391,950, representing an increase of 0.6% compared to last month and an increase of 1.3% from Oct 2015. The average days on market for units sold in October was 36 days, 8% above the 5-year October average of 33 days. There was a 35.6% month over month decrease in new contract activity with 29 New Pendings; a 33.9% MoM decrease in All Pendings (new contracts + contracts carried over from September) to 37; and an 8.9% decrease in supply to 41 active units. 




Burke, VA

The median sold price for Attached/Townhouse properties for September was $375,850, representing a decrease of 4.4% compared to last month and a decrease of 3.6% from Sep 2015. 
The average days on market for units sold in September was 28 days, 19% above the 5-year September average of 24 days. 
There was a 39.4% month over month decrease in new contract activity with 20 New Pendings; a 25% MoM decrease in All Pendings (new contracts + contracts carried over from August) to 30; and an 86.4% increase in supply to 41 active units.
 

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Annandale, VA

The median sold price for Attached/Townhouse properties for September was $377,500, representing a decrease of 8.4% compared to last month and a decrease of 4.4% from Sep 2015. 
The average days on market for units sold in September was 45 days, 64% above the 5-year September average of 27 days. 
There was a 41.7% month over month decrease in new contract activity with 7 New Pendings; a 25% MoM decrease in All Pendings (new contracts + contracts carried over from August) to 12; and an 83.3% increase in supply to 11 active units.
 

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Lorton, VA

The median sold price for Attached/Townhouse properties for September was $398,750, representing an increase of 6.6% compared to last month and an increase of 6.3% from Sep 2015. 
The average days on market for units sold in September was 37 days, the same as the 5-year September average of 37 days. 
There was a 41.7% month over month decrease in new contract activity with 14 New Pendings; a 35.1% MoM decrease in All Pendings (new contracts + contracts carried over from August) to 24; and a 40% increase in supply to 35 active units. 

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Karrina Taylor Brown
Karrina Taylor Brown
Associate Broker
8442 Old Keene Mill Road Springfield VA 22152