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Monday, June 20, 2011

Annandale home prices rising

Median sales prices in Annandale (zip code 22003) were up an incredible 23 percent over May 2010. 

But don’t get too excited, Vivienne Couts, the Annandale blog real estate contributor, warns. “Statistics can be misleading. There are fewer condos on the market in the low end (fewer foreclosures) and more higher-end properties selling,” she says.

Forty-eight homes were sold in May 2011, which is up 14 percent from April 2011 but 22.6 percent fewer than May 2010, says Couts, of Coldwell Banker Residential Brokerage. The median sold price was $432,507 last month, which is up 10.47 percent from April and up 10.5 percent from May 2011. The average sold price last month was $473,081.

Homes sold last month spent an average of 39 days on the market, which is down 34 percent from the previous month and up 26 percent from May a year ago.

1 comment:

  1. Home prices are rising in our marketplace as well. The national media needs to remember that home prices are local and follow micro trends. We are not Detroit or Cleveland.