February 2018 Local Market Insight – 20151, Chantilly, VA (All Home Types)

Contact us if you would like to know how the data below impacts the buying or selling of your real estate property in this or any other area(s) this Spring. 

Statistic Feb YoY MoM
Total Sold Dollar Volume 5,757,999 down 16.8% down 8.5%
Closed Sales 13 down 18.8% up 8.3%
Median Sold Price $445,000 up 9.5% down 20.2%
Average Sold Price $442,923 up 2.4% down 15.5%
Median Days on Market 15 days up 25% down 63.4%
Average Days on Market 42 days up 10.5% down 10.6%
Median Price per Sq Foot $227 down 6.6% down 1.7%
Average Price per Sq Foot $245 down 5.8% up 2.9%

Source:  2018 MarketStats by ShowingTime.  “Data provided by MRIS as of March 05, 2018.”

Definitions:

  1. Median – When a data set is arranged from least to greatest, the median is the middle value.  If the data set has outliers, the median gives a better description of the data than the average.
  2. Average – Average or mean = Total Number/Number of Items.  For example, Average Sold Price is Total Sales Dollar Volume divided by Total Number of Units Sold.
  3. Median SP to OLP Ratio – The Median Sold Price to the Original Listing Price Ratio for homes sold in a given period.
  4. Average SP to OLP Ratio – The Average Sold Price to Original List Price Ratio for home sold in a given period.
  5. YoY – Year-Over-Year is the percent change for a statistic from the same period in the previous year.
  6. MoM– Month-Over-Month is the percent change for a statistic from the preceding month.
  7. Months of Supply = (Active Listings at end-of-period / Average monthly sales over last 12 months)        

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Tim Royster | U.S. Army Veteran | REALTOR® | (571) 275-0871 | [email protected]

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