Oakton December 2020 Home Sales:

• 19 homes went under contract in Oakton. This is up 137% from the same time period in 2019.

• 52% of the homes that went to settlement in December 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $822,734 (down 2.7% from the same time period in 2019 when it was $845,920).

• 20 homes came on the market.  That is up 122% from December 2019.

• Homes that sold (closed) averaged 22 days on market, 43 days faster than in December of 2019.

• There is currently a 0.9 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 26 Oakton homes for sale (townhouse, condo and single-family).

Additional Year End Stats – 2019 vs 2020:

Average sold price increased by 15.3% ($711,239 vs $819,940)

Total units sold increased by 15%

Average sales price to original list price ratio increased – 98% vs 99.5%

OVERALL: Oakton remains in a Sellers Market.  We saw activity in this market slow over the month, expected given the holiday season (although some numbers are still up significantly from this time period last year), and low inventory remained to be an issue in Oakton. 

If we segment this market by price, we see a 1.2 month supply of homes over $1 Million (down from 1.5 last month) and in the under $1 Million price range – there is currently a 0.4 month supply.  Both segments are facing a Seller’s Market.

Oakton November 2020 Home Sales:

• 31 homes went under contract in Oakton. This is up 63% from the same time period in 2019.

• 66% of the homes that went to settlement in November 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $778,921 (up 23% from the same time period in 2019 when it was $632,542).

• 23 homes came on the market.  That is up 130% from November 2019.

• Homes that sold (closed) averaged 22 days on market, 20 days faster than in November of 2019.

• There is currently a 1.2 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 32 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remains in a Sellers Market. Fewer homes came on the market in November compared to the previous month but that number is significantly higher than the same time period last year.  As you can see, all other numbers noted above were also up year-over-year but activity did slow a bit compared to October and inventory increased slightly.

If we segment this market by price, we see a 1.5 month supply of homes over $1 Million (down from 2.8 last month) and in the under $1 Million price range – there is currently a 0.7 month supply.  This means Buyers looking at properties over $1 Million have moved to a Seller’s Market, as well as Buyers looking below $1 Million.

Oakton October 2020 Home Sales:

• 29 homes went under contract in Oakton. This is up 4% from the same time period in 2019.

• 69% of the homes that went to settlement in October 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $926,621 (up 44% from the same time period in 2019 when it was $645,490).

• 33 homes came on the market.  That is up 32% from October 2019.

• Homes that sold (closed) averaged 12 days on market, 10 days faster than in October of 2019.

• There is currently a 1.0 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 25 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remains in a Sellers Market. While there were no significant changes in this market month-over-month, the number of homes that came on the market and the average sold price were both up over significantly compared to this same timer period last year.

If we segment this market by price, we see a 2.8 month supply of homes over $1 Million (down from 3.0 last month) and in the under $1 Million price range – there is currently a 1.0 month supply.  This means Buyers looking at properties over $1 Million are experiencing a bit more of a Balanced Market, where Buyers looking below $1 Million are still facing an aggressive Seller’s Market.

Oakton September 2020 Home Sales:

• 34 homes went under contract in Oakton. This is up 48% from the same time period in 2019.

• 66% of the homes that went to settlement in September 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $913,028 (up 40% from the same time period in 2019 when it was $652,183).

• 35 homes came on the market.  That is up 3% from September 2019.

• Homes that sold (closed) averaged 26 days on market, 27 days faster than in September of 2019.

• There is currently a 1.2 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 31 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remains in a Sellers Market. While there were no significant changes in this market month-over-month, the number of homes that went under contract and the average sold price were both up over 40% compared to this same timer period last year.

The difference in months supply of homes by price segment increased in August.  There is a 3.0 month supply of homes over $1 Million (down from 3.5 last month) and in the under $1 Million price range – there is currently a 0.9 month supply (up from 0.4 last month).  This means Buyers looking at properties over $1 Million are experiencing a bit more of a Balanced Market, where Buyers looking below $1 Million are still facing an aggressive Sellers Market.

Oakton August 2020 Home Sales:

• 33 homes went under contract in Oakton. This is up 74% from the same time period in 2019.

• 59% of the homes that went to settlement in August 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $859,490 (up 14% from the same time period in 2019 when it was $756,790).

• 37 homes came on the market.  That is up 2.8% from August 2019.

• Homes that sold (closed) averaged 34 days on market, 2 days slower than in August of 2019.

• There is currently a 1.5 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 35 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remains in a Sellers Market. This market slowed down a bit in August but the number of homes that went under contract in Oakton is still significantly higher than this time last year.

The difference in months supply of homes by price segment increased in August.  There is a 3.5 month supply of homes over $1 Million (up from 2.9 last month) and in the under $1 Million price range – there is currently a 0.4 month supply.  This means Buyers looking at properties over $1 Million are experiencing a bit more of a Balanced Market, where Buyers looking below $1 Million are still facing an aggressive Sellers Market.

Oakton July 2020 Home Sales:

• 40 homes went under contract in Oakton. This is up 67% from the same time period in 2019.

• 50% of the homes that went to settlement in July 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $925,635 (up 52% from the same time period in 2019 when it was $609,440).

• 51 homes came on the market.  That is up 50% from July 2019.

• Homes that sold (closed) averaged 24 days on market, 3 days faster than in July of 2019.

• There is currently a 1.6 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 37 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remains in a Sellers Market. This market increased significantly compared to last year in the number of homes coming on the market and going under contract.  The average sold price is also  up from last month and year-over-year.  

The difference in months supply of homes by price segment decreased again in July.  There is a 2.9 month supply of homes over $1 Million (down from 3.8 last month) and in the under $1 Million price range – there is currently a 0.5 month supply.  This means Buyers looking at properties over $1 Million continue to move from a Balanced Market to Seller’s Market, where Buyers looking below $1 Million are still facing an aggressive Sellers Market.

Oakton June 2020 Home Sales:

• 39 homes went under contract in Oakton. This is up 25.8% from the same time period in 2019.

• 60% of the homes that went to settlement in June 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $777,192 (down 7.7% from the same time period in 2019 when it was $842,039).

• 42 homes came on the market.  That is up 27.3% from June 2019.

• Homes that sold (closed) averaged 15 days on market, 20 days faster than in June of 2019.

• There is currently a 1.6 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 36 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remains in a Sellers Market. This market continued to improve in June and is even stronger in regards to the number of homes coming on the market and going under contract than the same time period last year.  

Oakton May 2020 Home Sales:

• 23 homes went under contract in Oakton. This is down 53.1% from the same time period in 2019.

• 50% of the homes that went to settlement in May 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $689,718 (down 7.4% from the same time period in 2019 when it was $744,872).

• 32 homes came on the market.  That is down 52.9% from May 2019.

• Homes that sold (closed) averaged 15 days on market, 16 days faster than in May of 2019.

• There is currently a 1.6 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 38 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remains in a Sellers Market. Compared to this time last year, the number of homes that come on the market and the number that went under contract were down again significantly…expected given the current Coronavirus environment.  The Average Sold Price dropped versus last month and is down year-over-year.  Inventory continues to remain low.

The difference in months supply of homes by price segment continues to be significant.  There is a 4.9 month supply of homes over $1 Million (down from 5.1 last month) and in the under $1 Million price range – there is currently a 1.1 month supply (up from 0.4 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.

Oakton April 2020 Home Sales:

• 25 homes went under contract in Oakton. This is down 28.6% from the same time period in 2019.

• 77% of the homes that went to settlement in April 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $823,737 (up 19.2% from the same time period in 2019 when it was $691,234).

• 27 homes came on the market.  That is down 43.7% from April 2019.

• Homes that sold (closed) averaged 32 days on market, 4 days slower than in April of 2019.

• There is currently a 1.2 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 31 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remains in a Sellers Market. As with last month, the number of homes that went under contract and that came on the market decreased.  And, compared to this time last year, these numbers were down significantly…expected given the current Coronavirus environment.  Also of note, Average Sold Price is up year-over-year and inventory continues to remain low.

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 (up from 4.3 last month) and in the under $1 Million price range – there remains a 0.4 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.

Oakton March 2020 Home Sales:

• 34 homes went under contract in Oakton. This is down 5.6% from the same time period in 2019.

• 58% of the homes that went to settlement in March 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $740,390 (up 6.6% from the same time period in 2019 when it was $694,829).

• 41 homes came on the market.  That is down 11% from March 2019.

• Homes that sold (closed) averaged 26 days on market, 32 days faster than in March of 2019!

• There is currently a 1.2 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 30 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remains in a Sellers Market. As expected given the current Coronavirus pandemic, the number of homes that went under contract and came on the market were down 5.6% and 11% respectively from the same time period last year.  Compared to last month, the rest of the numbers are fairly similar and inventory remained low with only 30 homes for sale during the month.

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 (down from 6.6 last month) and in the under $1 Million price range – there remains a 0.4 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.

Oakton February 2020 Home Sales:

• 32 homes went under contract in Oakton. This is up 33.3% from the same time period in 2019. 

• 57% of the homes that went to settlement in February 2020, sold in 10 days or less from when they hit the market.  

• Average sold price was $813,759 (up 30.4% from the same time period in 2019 when it was $624,031).

• 34 homes came on the market.  That is down 19% from February 2019.

• Homes that sold (closed) averaged 29 days on market, 27 days faster than in February of 2019!

• There is currently a 1.2 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 28 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remains in a Sellers Market. The market picked up again in February with the number of homes coming on the market and going under contract increasing from January.  However, inventory remained low with only 28 homes for sale during the month.

The difference in months supply of homes by price segment continues to be significant.  There is a 6.6 month supply of homes over $1 Million and in the under $1 Million price range – there is a 0.4 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.

Oakton January 2020 Home Sales:

• 20 homes went under contract in Oakton. This is up 25% from the same time period in 2019. 

• 29% of the homes that went to settlement in January 2020, sold in 10 days or less from when they hit the market.  

• Average sold price was $750,921 (up 20% from the same time period in 2019 when it was $624,653).

• 26 homes came on the market.  That is up 53% from January 2019.

• Homes that sold (closed) averaged 53 days on market, 3 days faster than in January of 2019.

• There is currently a 1.0 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 25 Oakton homes for sale (townhouse, condo and single family).

OVERALL: Oakton remains in a Sellers Market. This market definitely picked up during January with the number of homes coming on the market and going under contract increasing from December, as well as from the same time period in 2019.  However, low inventory in housing continues to be an issue.

The difference in months supply of homes by price segment continues to be significant.  There is a 6.0 month supply of homes over $1 Million (up from 4.5 last month) and in the under $1 Million price range – there is a 0.6 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 (and inventory continues to decrease).