Oakton July 2021 Home Sales:
• 39 homes went under contract in Oakton. This is down 3% from the same time period in 2020.
• 70% of the homes that went to settlement in July 2021, sold in 10 days or less from when they hit the market.
• Average sold price was $734,556 (down 21% from the same time period in 2020 when it was $925,635).
• 45 homes came on the market. That’s down 12% from July 2020.
• Homes that sold (closed) averaged 13 days on market, 11 days faster than in July of 2020.
• There is currently a 1.3 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 43 Oakton homes for sale (townhouse, condo and single-family).
OVERALL: Oakton remained in a Seller’s Market. As with last month, we didn’t see a significant change in the monthly numbers from June to July, but we did see some slowing in the year-over-year numbers. And, the average sold price was down for both time periods.
If we segment this market by price, we see a 1.3 month supply of homes over $1 Million and in the under $1 Million price range – there is also a 1.3 month supply. Both segments are facing a Seller’s Market
Your Home ValueOakton June 2021 Home Sales:
• 34 homes went under contract in Oakton. This is down 13% from the same time period in 2020.
• 84% of the homes that went to settlement in June 2021, sold in 10 days or less from when they hit the market.
• Average sold price was $1,079,747 (up 39% from the same time period in 2020 when it was $777,192).
• 52 homes came on the market. That’s up 24% from June 2020.
• Homes that sold (closed) averaged 6 days on market, 9 days faster than in June of 2020.
• 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 41 Oakton homes for sale (townhouse, condo and single-family).
OVERALL: Oakton remained in a Seller’s Market. This market slowed a bit during June but we did see an increase in the average sold price compared to May (as well as year-over-year) and inventory increased slightly.
If we segment this market by price, we see a 1.4 month supply of homes over $1 Million and in the under $1 Million price range – there is currently a 0.9 month supply. Both segments are facing a Seller’s Market.
Oakton May 2021 Home Sales:
• 60 homes went under contract in Oakton. This is up 161% from the same time period in 2020.
• 89% of the homes that went to settlement in May 2021, sold in 10 days or less from when they hit the market.
• Average sold price was $861,721 (up 25% from the same time period in 2020 when it was $689,718).
• 58 homes came on the market. That’s up 81% from May 2020.
• Homes that sold (closed) averaged 10 days on market, 5 days faster than in May of 2020.
• There is currently a 0.8 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).
OVERALL: Oakton remained in a Seller’s Market. We didn’t see a significant change in the numbers from April to May in Oakton, but activity and average sold price were up double digits compared to this time last year (again, expected due to the pandemic). And...inventory decreased and remained an issue for buyers.
If we segment this market by price, we see a 1.7 month supply of homes over $1 Million and in the under $1 Million price range – there is currently a 1.2 month supply. Both segments are facing a Seller’s Market.
Oakton April 2021 Home Sales:
• 45 homes went under contract in Oakton. This is up 80% from the same time period in 2020.
• 82% of the homes that went to settlement in April 2021, sold in 10 days or less from when they hit the market.
• Average sold price was $904,176 (up 10% from the same time period in 2020 when it was $823,737).
• 63 homes came on the market. That’s up 133% from April 2020.
• Homes that sold (closed) averaged 13 days on market, 19 days faster than in April of 2020.
• 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 32 Oakton homes for sale (townhouse, condo and single-family).
OVERALL: Oakton remained in a Seller’s Market. The number of homes that came on the market and went under contract were up significantly year-over-year (not surprising given the pandemic situation) and the average sold price continued to increase. Inventory increased in April from 0.6 month supply to 1.1 months, but continues to be a challenge for buyers.
If we segment this market by price, we see a 1.5 month supply of homes over $1 Million and in the under $1 Million price range – there is currently a 0.7 month supply. Both segments are facing a Seller’s Market.
Oakton March 2021 Home Sales:
• 40 homes went under contract in Oakton. This is up 18% from the same time period in 2020.
• 79% of the homes that went to settlement in March 2021, sold in 10 days or less from when they hit the market.
• Average sold price was $819,783 (up 10% from the same time period in 2020 when it was $740,390).
• 40 homes came on the market. That’s down 2% from March 2020.
• Homes that sold (closed) averaged 14 days on market, 12 days faster than in March of 2020.
• There is currently a 0.6 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 16 Oakton homes for sale (townhouse, condo and single-family).
OVERALL: Oakton remained in a Seller’s Market. The number of homes that came on the market and went under contract were up from February, however, inventory was down slightly and remained a challenge for buyers...79% of homes that closed during the month sold in 10 days or less! And the average sales price continues to increase (up 10% year-over-year!).
If we segment this market by price, we see a 1.4 month supply of homes over $1 Million and in the under $1 Million price range – there is currently a 0.5 month supply. Both segments are facing a Seller’s Market.
Oakton February 2021 Home Sales:
• 30 homes went under contract in Oakton. This is down 6% from
the same time period in 2020.
• 58% of the homes that went to settlement in February 2021,
sold in 10 days or less from when they hit the market.
• Average sold price was $729,650 (down 10% from the same time period in 2020 when it was $813,759).
• 27 homes came on the market. The same number as in February 2020.
• Homes that sold (closed) averaged 21 days on market, 8 days faster than in February of 2020.
• There is currently a 0.6 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 18 Oakton homes for sale (townhouse, condo and single-family).
OVERALL: Oakton remains in a Seller’s Market. Market activity in this area was up just slightly from January and pretty much in line with the same period in 2020. Average sold prices were down from last year. Low inventory remains to be an issue.
If we segment this market by price, we see a 1.3 month supply of homes over $1 Million and in the under $1 Million price range – there is currently a 0.3 month supply. Both segments are facing a Seller’s Market.
Oakton January 2021 Home Sales:
• 25
homes went under contract in Oakton. This is up 25% from the same
time period in 2020.
• 38% of the homes that went to settlement in January 2021, sold in 10 days or less from when they hit the market.
• Average sold price was $623,188 (down 17% from the same time period in 2020 when it was $750,921).
• 26 homes came on the market. The same number as in January 2020.
• Homes that sold (closed) averaged 23 days on market, 30 days faster than in January of 2020.
• There is currently a 0.7 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 21 Oakton homes for sale (townhouse, condo and single-family).
OVERALL: Oakton remains in a Sellers Market. Market activity in this area was
up slightly from December and more in line with the same period in 2020. Average sold prices were down from December
and from last year. Low inventory
remains to be an issue.
If we segment this market by price, we see a 1.4 month supply of homes over $1 Million and in the under $1 Million price range – there is currently a 0.1 month supply. Both segments are facing a Seller’s Market.
