Here are last week’s stats for Vienna Real Estate (22180,22181, 22182):
- Number of Contracts: 24
- Average Days on Market for Active Listings: 107 days
- Average Days on Market for Listings That Went Under Contract: 49 days
- Inventory: 248 homes on the market
- Number of Months Supply of Homes (Based on past 90 day contract rate): 2.8 months
- Number of Months Supply of Homes (Based on past 30 day contract rate): 2.8 months
Here are last week’s stats for Oakton Real Estate (22124):
- Number of Contracts: 4
- Average Days on Market for Active Listings: 105 days
- Average Days on Market for Listings That Went Under Contract: 50 days
- Inventory: 86 homes on the market
- Number of Months Supply of Homes (Based on past 90 day contract rate): 3.9 months
- Number of Months Supply of Homes (Based on past 30 day contract rate): 7.8 months
Notes:
- Inventory in Vienna has dropped 13% in the past month; while inventory in Oakton has increased to a level we have not seen since April.
- Months of housing supply in Vienna remains stable at about 3 months; while Oakton’s supply increased to an almost 8 month supply.
SELLERS: If you are thinking of selling a home in Vienna, NOW may be a good time. Buyers are still in the market and there is NOT a lot to see. If you are thinking of selling a home in Oakton, make sure you discuss pricing strategies in depth with your agent. This is especially important as we have seen the market moving from a Sellers Market to a Balanced Market and we are now approaching a Buyers Market.
BUYERS: If you are looking in Oakton, NOW may be a good time to buy. Inventory is up and there is more to choose from than there has been over the past 3 months. If you are looking in Vienna, be ready to move when you see something you like as inventory is continuing to trend down.
If you’re thinking of buying or selling, contact The Belt Team for a more in-depth discussion & analysis - because it’s only the neighborhood YOU live in (or you WANT to live in) that matters!