Oakton December 2022 Home Sales:

• 10 homes went under contract in Oakton. This is down 41% from the same time period in 2021. 

• 31% of the homes that went to settlement in December 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $819,807 (up 20% from the same time period in 2021 when it was $683,770).

• 7 homes came on the market.  That’s down 36% from December 2021.

• Homes that sold (closed) averaged 46 days on market, 17 days slower than in December of 2021.

• There is currently a 0.5 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 13 Oakton homes for sale (townhouse, condo and single-family).

Additional Year-End Stats – 2022 vs 2021:

Average sold price increased by 9.8% ($951,829 vs $866,710)

Total units sold decreased by 30%

Average sales price to original list price ratio increased slightly – 101.5% vs 100.8%

OVERALL: Oakton remained in a Seller’s Market. Inventory decreased from the prior month and was down 13% year-over-year.  The number of homes going under contract was up just slightly from last month but the number coming on the market declined a bit…both of these numbers continue to be down significantly from this time last year.  Average sold price was down from November but was up compared to the end of December last year.

If we segment this market by price, we see a 0.8 month supply of homes over $1 Million and in the under $1 Million price range, also a 0.8 month supply.  Both segments continue to face a Seller’s Market.

Oakton November 2022 Home Sales:

• 9 homes went under contract in Oakton. This is down 72% from the same time period in 2021. 

• 67% of the homes that went to settlement in November 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $969,166 (up 2.5% from the same time period in 2021 when it was $945,378).

• 9 homes came on the market.  That’s down 44% from November 2021.

• Homes that sold (closed) averaged 10 days on market, 23 days faster than in November of 2021.

• 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 23 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remained in a Seller’s Market. Inventory decreased slightly from the prior month but was unchanged year-over-year.  The number of homes going under contract was up a bit but the number coming on the market declined…both of these numbers continue to be down significantly from this time last year.  Average sold price was up from October and compared to November last year.

If we segment this market by price, we see a 0.6 month supply of homes over $1 Million and in the under $1 Million price range, a 1.1 month supply.  Both segments continue to face a Seller’s Market.

Oakton October 2022 Home Sales:

• 7 homes went under contract in Oakton. This is down 79% from the same time period in 2021. 

• 47% of the homes that went to settlement in October 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $819,471 (down 16% from the same time period in 2021 when it was $973,167).

• 17 homes came on the market.  That’s down 56% from October 2021.

• Homes that sold (closed) averaged 20 days on market, 2 days faster than in October of 2021.

• 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 27 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remained in a Seller’s Market. Inventory increased slightly from the prior month but was down 36% year-over-year.  The number of homes going under contract and coming on the market declined, and both of these numbers continue to be down significantly from this time last year.  Average sold price was down from September and compared to October last year.

If we segment this market by price, we see a 0.6 month supply of homes over $1 Million and in the under $1 Million price range, a 1.1 month supply.  Both segments continue to face a Seller’s Market.

Oakton September 2022 Home Sales:

• 15 homes went under contract in Oakton. This is down 63% from the same time period in 2021. 

• 55% of the homes that went to settlement in September 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,049,431 (up 16% from the same time period in 2021 when it was $905,915).

• 22 homes came on the market.  That’s down 54% from September 2021.

• Homes that sold (closed) averaged 21 days on market, 7 days faster than in September of 2021.

• 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 24 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remained in a Seller’s Market. Inventory decreased slightly from the prior month and was down 50% year-over-year.  The number of homes going under contract decreased but the number of new homes coming on the market increased slightly…however both of these numbers continue to be down significantly from this time last year.  Average sold price was up from August as well as compared to September last year.

If we segment this market by price, we see a 0.5 month supply of homes over $1 Million and in the under $1 Million price range, a 0.9 month supply.  Both segments continue to face a Seller’s Market.

Additional Quarter-End Stats – 2022 vs 2021

Average sold price increased by 21% ($975,805 vs $806,794)

Total units sold decreased by 26%

Average sales price to original list price ratio decreased slightly – 99.4% vs 99.5%

Oakton August 2022 Home Sales:

• 21 homes went under contract in Oakton. This is down 43% from the same time period in 2021. 

• 40% of the homes that went to settlement in August 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $862,463 (up 7% from the same time period in 2021 when it was $804,282).

• 13 homes came on the market.  That’s down 66% from August 2021.

• Homes that sold (closed) averaged 27 days on market, 10 days slower than in August of 2021.

• 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 27 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remained in a Seller’s Market. Inventory decreased from the prior month and was down 41% year-over-year.  The number of homes going under contract and new homes coming on the market decreased as well…and both of these numbers continue to be down significantly from this time last year.  Average sold price was down from July but was up slightly compared to August last year.

If we segment this market by price, we see a 0.8 month supply of homes over $1 Million and in the under $1 Million price range, a 0.9 month supply.  Both segments continue to face a Seller’s Market.

Oakton July 2022 Home Sales:

• 26 homes went under contract in Oakton. This is down 33% from the same time period in 2021. 

• 52% of the homes that went to settlement in July 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,043,945 (up 42% from the same time period in 2021 when it was $734,556).

• 33 homes came on the market.  That’s down 27% from July 2021.

• Homes that sold (closed) averaged 19 days on market, 6 days slower than in July of 2021.

• 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 37 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remained in a Seller’s Market. Inventory increased slightly from last month but was down 14% year-over-year.  The number of homes going under contract and new homes coming on the market decreased…and both of these numbers continue to be down from this time last year.  Average sold price was up from June as well as compared to July last year.

If we segment this market by price, we see a 0.8 month supply of homes over $1 Million and in the under $1 Million price range, a 0.9 month supply.  Both segments continue to face a Seller’s Market.

Oakton June 2022 Home Sales:

• 31 homes went under contract in Oakton. This is down 9% from the same time period in 2021. 

• 64% of the homes that went to settlement in June 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $957,939 (down 11% from the same time period in 2021 when it was $1,079,747).

• 36 homes came on the market.  That’s down 31% from June 2021.

• Homes that sold (closed) averaged 10 days on market, 4 days slower than in June of 2021.

• 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 34 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remained in a Seller’s Market.  Inventory basically remained the same as last month and was down 17% year-over-year.  The number of homes going under contract was down from last month as well as the number of new homes coming on the market…both of these numbers continue to be down from this time last year.  Average sold price was down from May and this same time period last year, but was up compared to the 2nd quarter in 2021. 

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, a 0.9 month supply.  Both segments continue to face a Seller’s Market (especially in the under $1M range).

Additional Quarter-End Stats – 2021 vs 2022:

Average sold price increased by 10% ($958,468 vs $1,055,507)

Total units sold decreased by 17%

Average sales price to original list price ratio increased just slightly – 103.2% vs 103.4%

Oakton May 2022 Home Sales:

• 46 homes went under contract in Oakton. This is down 23% from the same time period in 2021. 

• 68% of the homes that went to settlement in May 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,149,716 (up 33% from the same time period in 2021 when it was $861,721).

• 48 homes came on the market.  That’s down 17% from May 2021.

• Homes that sold (closed) averaged 16 days on market, 6 days slower than in May of 2021.

• 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 33 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remained in a Seller’s Market.  Inventory decreased slightly from last month but was up 27% year-over-year.  The number of homes going under contract increased from last month but the number of new homes coming on the market was down…both of these numbers continue to be down significantly from this time last year.  Average sold price was in line with April, but up significantly from this time last year. 

If we segment this market by price, we see a 1.8 month supply of homes over $1 Million and in the under $1 Million price range, a 0.9 month supply.  Both segments continue to face a Seller’s Market (especially in the under $1M range).

Oakton April 2022 Home Sales:

• 36 homes went under contract in Oakton. This is down 20% from the same time period in 2021. 

• 86% of the homes that went to settlement in April 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,100,856 (up 22% from the same time period in 2021 when it was $904,176).

• 59 homes came on the market.  That’s down 6% from April 2021.

• Homes that sold (closed) averaged 14 days on market, 1 day slower than in April of 2021.

• 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 37 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remained in a Seller’s Market.  Active listings increased from the prior month and were up 16% year-over-year.  Average sold price was up 27% from March and up 22% from April 2021. 

If we segment this market by price, we see a 2.2 month supply of homes over $1 Million and in the under $1 Million price range, a 0.7 month supply.  Both segments continue to face a Seller’s Market (especially in the under $1M range).

Oakton March 2022 Home Sales:

• 34 homes went under contract in Oakton. This is down 15% from the same time period in 2021. 

• 93% of the homes that went to settlement in March 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $835,080 (up 2% from the same time period in 2021 when it was $819,783).

• 46 homes came on the market.  That’s up 15% from March 2021.

• Homes that sold (closed) averaged 5 days on market, 9 days faster than in March of 2021.

• There is currently a 0.5 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 16 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remained in a Seller’s Market.  Inventory doubled from last month (but continues to be historically low) and sold prices continued to rise but just slightly. 

If we segment this market by price, we see a 1.1 month supply of homes over $1 Million and in the under $1 Million price range, a 0.3 month supply.  Both segments continue to face an extremely aggressive Seller’s Market.

Oakton February 2022 Home Sales:

• 22 homes went under contract in Oakton. This is down 27% from the same time period in 2021. 

• 60% of the homes that went to settlement in February 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $940,122 (up 29% from the same time period in 2021 when it was $729,650).

• 24 homes came on the market.  That’s down 11% from February 2021.

• Homes that sold (closed) averaged 73 days on market, 52 days slower than in February of 2021.

• There is currently a 0.2 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 8 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remained in a Seller’s Market.  Basically no change in inventory in the area from last month but average sold price was up (also up year-over-year). 

If we segment this market by price, we see a 0.8 month supply of homes over $1 Million and in the under $1 Million price range, a 0.3 month supply.  Both segments continue to face an extremely aggressive Seller’s Market.

Oakton January 2022 Home Sales:

• 24 homes went under contract in Oakton. This is down 4% from the same time period in 2021. 

• 19% of the homes that went to settlement in January 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $623,981 (in line with the price from the same time period in 2021 when it was $623,188).

• 16 homes came on the market.  That’s down 39% from January 2021.

• Homes that sold (closed) averaged 42 days on market, 19 days slower than in January of 2021.

• There is currently a 0.2 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 7 Oakton homes for sale (townhouse, condo and single-family).

OVERALL: Oakton remained in a Seller’s Market.  Lots more of the same from 2021…very LOW inventory in the area remained a big issue in January.

If we segment this market by price, we see a 0.5 month supply of homes over $1 Million and in the under $1 Million price range, a 0.2 month supply.  Both segments continue to face an extremely aggressive Seller’s Market.