Is Annandale, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Annandale has remained a Seller's Market.
Key Takeaway
Annandale is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Annandale, VA
How much do homes in Annandale, VA cost?
Median Sold Price
$688,000
$333/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Annandale have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in Annandale was $688,000 in May 2024, up 5.9% from last year, and the median price per square foot was $333.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $191.4K | $208.7K | +9.0% |
| 2 Bedrooms | $260K | $317.2K | +22.0% |
| 3 Bedrooms | $555K | $610K | +9.9% |
| 4 Bedrooms | $727K | $760K | +4.5% |
| 5+ Bedrooms | $810K | $879.9K | +8.6% |
Summary: Annandale housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9%, 2 bedroom homes increased by 22%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 8.6%.
Housing Supply in Annandale, VA
How many homes are available in Annandale, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 147 | 196 | +33.3% |
Summary: The Annandale real estate market had 196 homes for sale in May 2024, a 33.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 9 | +28.6% |
| 2 Bedrooms | 13 | 15 | +15.4% |
| 3 Bedrooms | 37 | 54 | +45.9% |
| 4 Bedrooms | 52 | 63 | +21.2% |
| 5+ Bedrooms | 38 | 55 | +44.7% |
Summary: The Annandale housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 45.9%, 4 bedroom homes increased by 21.2%, and 5+ bedroom homes increased by 44.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 40 | 41 | +2.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Annandale, you could pay more than the asking price. 63.4% of homes here sold above asking price last month.
Summary: A total of 41 homes were sold or pending in Annandale in May 2024, up by 2.5% month-over-month. Of the 41 sold homes, 20% were sold under asking, 17% were sold at asking, and 63% were sold over asking.
Days on Market for Annandale, VA
How long does it take to sell a home in Annandale, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 7 Days | -50.4% |
Summary: Homes in Annandale had an average of 7 days on market in May 2024, down by 50.4% compared to last year.
Breakdown of Home Sale Times
40 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Annandale are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 41 homes were sold in Annandale; 98% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
