Real Estate Market
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Hyperlocal Update on Vienna. Plus Secret Inventory,Open Houses & More
- 448 homes went under contract in Vienna in the first half of 2016. This is down 3% over the same time period in 2015.
- 865 homes came on the market so far this year. This is almost identical to 2015, when 867 homes were listed from January through June.
- Homes sold a week slower so far this year than they did last year – in an average of 57 days as compared to 50 days in 2015. (This means the average Seller can count on having their home in showing condition for about two months.)
- 40% of the homes that sold this year, did so in under 10 days. While 46% of the homes that sold last year during this same time period did so in 10 days or less.
- We currently have a 3.1 month supply of homes in Vienna. That puts us in a very Balanced Market – neither a Buyer’s or a Seller’s market overall. However, in any given price range, the numbers may skew very differently – making some price ranges a Seller’s Market and some a Buyer’s Market. For example – we have a 9 month supply of homes in the Vienna market over $1.2 Million. And in the under $800,000 price range – we have less than a 2 month supply. (This means that Buyers in the upper ranges are looking at a Buyer’s Market, and Buyers in the lower ranges are facing a Seller’s Market.)
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