Here is the weekly update from MRIS:
“Sales in the MRIS region are still strong, while the supply of available homes continues to drop.
For the week ending November 21 there were 2,237 pending sales, up 34.7 percent from a year ago.
The passing of the original tax credit expiration date does not appear to have slowed the urgency of the region’s buyers.
The tax bill’s extension/expansion means that move-up buyers are eligible for a $6,500 credit when they sell and then buy again, which should eventually spur some new listing activity.
That hasn’t happened yet, though—the number of new listings for the most recent reporting week was down 9.1 percent from a year ago.
The total inventory in the region now sits at 54,233, down over 23,000 units from a year ago.”
Stay tuned this week for more detailed info on the Vienna Oakton real estate market or contact The Belt Team directly at (703) 242-3975.
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