Annandale real estate market on the upswing

The real estate market in Annandale really picked up August 2010 compared to August 2009, reports Vivianne Couts of Coldwell Banker.

The average price of a home sold in zip code 22003 was $381,521 last month, a 13.8 percent increase over the average price of $335,0917 of a home sold in August 2009.

Fewer homes sold (58 in August 2010 vs. 60 a year ago), but homes are selling faster: The average home sold in August 2010 spent an average of 34 days on the market, compared to 56 days in August 2009, a 39.3 percent decrease.

The average list price of homes sold was $396,076 in August 2010 and $351,364 in August 2009, a 12.7 percent increase. The average sale price as a percentage of average list price was 96.3 percent in August 2009 and 95.3 percent last month. The total dollar volume of homes sold is up 10.1 percent, from $20.1 million in August 2009 to $22.2 million in August 2010.