Oakton December 2019 Home Sales:

• 8 homes went under contract in Oakton. This is down 50% from the same time period in 2018. 

• 10% of the homes that went to settlement in December 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $845,920 (up 51% from the same time period in 2018 when it was $559,867).

• 9 homes came on the market.  That is up 50% from December 2018.

• Homes that sold (closed) averaged 65 days on market, 29 days slower than in December of 2018.

• There is currently a 1.1 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Oakton – and 27 Oakton homes for sale (townhouse, condo and single family).

Additional Year-End Stats – 2018 vs 2019:

Average sold price increased by 2.5% ($694,097 vs $711,239)

Total units sold increased by 4.5%

Average sales price to original list price ratio basically remained the same – 98%

 OVERALL: Oakton remains in a Sellers Market and again, this market slowed from last month (which is not unexpected during the holiday season).  Only 8 properties went under contract in December, the average days on market for listings increased significantly and the total number of homes for sale decreased by 25%.

Let’s see if there continues to be a difference if we segment by price.  The difference in months supply of homes by price segment continues to be significant.  There is a 4.5 month supply of homes over $1 Million and in the under $1 Million price range – there is a 0.8 month supply.  These numbers did not change significantly from last month so there continues to be a big difference in months supply of homes.  This means Buyers looking at properties over $1 Million are looking at more of a Balanced Market, where Buyers looking below $1 Million are still facing a Sellers Market (and inventory continues to decrease).

Oakton November 2019 Home Sales:

• 19 homes went under contract in Oakton. This is down 9.5% from the same time period in 2018. 

• 33% of the homes that went to settlement in November 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $632,542 (down 12.7% from the same time period in 2018 when it was $724,681)

• 10 homes came on the market.  That is down 50% from November 2018.

• Homes that sold (closed) averaged 42 days on market, 5 days slower than in November of 2018.

• There is currently a 1.4 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Oakton – and 36 Oakton homes for sale (townhouse, condo and single family).

OVERALL: Oakton remains in a Sellers Market and this market definitely slowed from last month.  The number of home that that came on the market decreased by 60%, the average days on market for listing increased significantly and the total number of homes for sale decreased by 42%.

Let’s see if there continues to be a difference if we segment by price.  The difference in months supply of homes by price segment continues to be significant.  There is a 4.3 month supply of homes over $1 Million and in the under $1 Million price range – there is a 0.9 month supply.  While this number is down for both segments, there continues to be a big difference in months supply of homes.  This means Buyers looking at properties over $1 Million are looking at more of a Balanced Market, where Buyers looking below $1 Million are still facing a Sellers Market (and inventory continues to decrease).

Oakton October 2019 Home Sales:

• 28 homes went under contract in Oakton. This is up 12% from the same time period in 2018. 

• 35% of the homes that went to settlement in October 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $645,490 (down 25% from the same time period in 2018 when it was $856,769)

• 25 homes came on the market.  That is down 7% from October 2018.

• Homes that sold (closed) averaged 22 days on market, 39 days faster than in October of 2018!

• There is currently a 2.5 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Oakton – and 62 Oakton homes for sale (townhouse, condo and single family).

OVERALL: Oakton remains in a Sellers Market and the inventory is dropping.  Some things to note this month… the average days on market decreased significantly from last month and the months supply of homes decreased by .5 months (there was a 19% drop in the number of homes for sale from last month).

The difference in months supply of homes by price segment continues to be significant.  There is a 5.2 month supply of homes over $1 Million and in the under $1 Million price range – there is a 1.1 month supply (down from 1.6 last month).  This means Buyers looking at properties over $1 Million are looking at more of a Balanced Market, where Buyers looking below $1 Million are still facing a Sellers Market (inventory is lower and homes are selling faster).

Oakton September 2019 Home Sales:

• 23 homes went under contract in Oakton. This is down 14.8% from the same time period in 2018. 

• 26% of the homes that went to settlement in September 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $652,183 (down 10.1% from the same time period in 2018 when it was $725,782)

• 34 homes came on the market.  That is equal to September 2018.

• Homes that sold (closed) averaged 53 days on market, 14 days longer than in September of 2018.

• There is currently a 3 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Oakton – and 75 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remains in a Sellers Market.  Some things to note… The average sold price decreased again from last month as well as this time period last year, and the average days on market increased by 38% from last month (and is 14 days longer than in September 2018).

The difference in months supply of homes by price segment continues to be significant.  There is a 5.2 month supply of homes over $1 Million and in the under $1 Million price range – there is a 1.6 month supply.  This means Buyers looking at properties over $1 Million are looking at more of a Balanced Market, where Buyers looking below $1 Million are still facing a Sellers Market (inventory is lower and homes are selling faster).

Oakton August 2019 Home Sales:

• 19 homes went under contract in Oakton. This equal to the number from the same time period in 2018. 

• 18% of the homes that went to settlement in August 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $756,790 (down 4.8% from the same time period in 2018 when it was $794,529)

• 36 homes came on the market.  That’s down 7.7% from August 2018.

• Homes that sold (closed) averaged 36 days on market, 14 days faster than in August of 2018.

• There is currently a 3.1 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Oakton – and 78 Oakton homes for sale (townhouse, condo and single family).

The difference in months supply of homes by price segment continues to be significant.  There is a 5.1 month supply of homes over $1 Million and in the under $1 Million price range – there is a 1.8 month supply.  This means Buyers looking at properties over $1 Million are looking at more of a Balanced Market, where Buyers looking below $1 Million are still facing a Sellers Market (inventory is lower and homes are selling faster).

Oakton July 2019 Home Sales:

• 24 homes went under contract in Oakton. This is up 20%from the same time period in 2018. 

• 24% of the homes that went to settlement in July 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $609,440(down 4.35%from the same time period in 2018 when it was $637,183)

• 34 homes came on the market.  That’s up 9.7% from July 2018.

• Homes that sold (closed) averaged 58 days on market, 10 days slower than in July of 2018.

• There is currently a 3.0 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Oakton – and 71 Oakton homes for sale (townhouse, condo and single family).

OVERALL: Even though the months supply of home rose slightly in July, Oakton remains in a Sellers Market.  The notable changes from last month include…again, fewer new listings came on the market, the average days on market increased month-over month & year-over-year, and the average sold price decreased significantly from last month (-28%).

The difference in months supply of homes by price segment continues to be significant.  There is a 5.0 month supply of homes over $1 Million and in the under $1 Million price range – there is a 1.7 month supply. This means Buyers looking at properties over $1 Million are looking at more of a Balanced Market, where Buyers looking below $1 Million are still facing a Sellers Market (inventory is lower and homes are selling faster).

Oakton June 2019 Home Sales:

• 31 homes went under contract in Oakton. This is equal to the same time period in 2018. 

• 35% of the homes that went to settlement in June 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $842,039 (up 34.65% from the same time period in 2018 when it was $625,373)

• 33 homes came on the market.  That’s down 23.26% from June 2018.

• Homes that sold (closed) averaged 50 days on market, 12 days slower than in June of 2018.

• There is currently a 2.6 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Oakton – and 63 Oakton homes for sale (townhouse, condo and single family).

OVERALL: Oakton remains in a Sellers Market.  The notable changes from last month include…again, fewer new listings came on the market & inventory is down, the average days on market increased month-over month & year-over-year, and the average sold price rose again.

Oakton continues to be a tale of two markets although month supply of homes continues to decrease in both segments – we have a 5.3 (down from 6.8 in May) month supply of homes over $1 Million and in the under $1Million price range – we have a 1.6 month supply.  This means Buyers looking at properties over $1 Million are looking at more of a Balanced Market, where Buyers looking below $1 Million are still facing a Sellers Market (inventory is lower and homes are selling faster).

Oakton May 2019 Home Sales:

• 49 homes went under contract in Oakton. This is up 40% from the same time period in 2018. 

• 43% of the homes that went to settlement in May 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $744,872 (down 12.20% from the same time period in 2018 when it was $848,384)

• 68 homes came on the market.  That’s down 30.77% from May 2018.

• Homes that sold (closed) averaged 35 days on market, 9 days faster than in May of 2018.

• There is currently a 3.0 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Oakton – and 70 Oakton homes for sale (townhouse, condo and single family).

OVERALL: Oakton remains in a Sellers Market.  Notable changes from last month: more homes went under contract (40%) and the average sales price went up but fewer new listings came on the market.

There are still two stories to tell in Oakton – we have a 6.8 (down from 9.3 in April) month supply of homes over $1 Million and in the under $1Million price range – we continue to have a 2 month supply.  This means Buyers looking at properties over $1 Million are looking at more of a Balanced Market, where Buyers looking below $1 Million are still facing a Sellers Market (inventory is lower and homes are selling faster).

Oakton April 2019 Home Sales:

• 35 homes went under contract in Oakton. This is up 25% from the same time period in 2018. 

• 42% of the homes that went to settlement in April 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $691,234 (down .25% from the same time period in 2018 when it was $692,933)

• 90 homes came on the market.  That’s down 8% from April 2018.

• Homes that sold (closed) averaged 45 days on market, 10 days faster than in April of 2018.

• There is currently a 2.7 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Oakton – and 60 Oakton homes for sale (townhouse, condo and single family).

OVERALL: Oakton remains in a Sellers Market.  However…

There are still two stories to tell in Oakton – we have a 9.3 month supply of homes over $1 Million and in the under $1Million price range – we have a 2 month supply.  This means Buyers looking at properties over $1 Million are looking at more of a Balanced Market, where Buyers looking below $1 Million are still facing a Sellers Market (inventory is lower and homes are selling faster).

Oakton March 2019 Home Sales: 

Oakton March 2019 home sales:

• 36 homes went under contract in Oakton. This is up 50% from the same time period in 2018! 

• 32% of the homes that went to settlement in March 2019, sold in 10 days or less from when they hit the market.  

• Average sold price was $694,829 (up 6.7% from the same time period in 2018 when it was $651,352)

• 46 homes came on the market.  That’s down 8% from March 2018.

• Homes that sold (closed) averaged 79 days on market, 3 days slower than in March of 2018.

• There is currently a 2.3 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in Oakton – and 50 Oakton homes for sale (townhouse, condo and single family).

OVERALL: Oakton remains in a Sellers Market.  

Like last month, there are still two stories to tell in Oakton – we have a 6.3 month supply of homes over $1 Million and in the under $1Million price range – we now have a 2.6 month supply (this is over double of what it was last month in this price range).  This means Buyers looking at properties over $1 Million are looking at more of a Balanced Market, where Buyers looking below $1 Million are still facing a Sellers Market (inventory is lower and homes are selling faster).

Oakton January 2019 Home Sales: