Reston December 2020 Home Sales:

• 87 homes went under contract in Reston. This is up 45% from the same time period in 2019.

• 49% of the homes went to settlement in December 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $507,555 (up 9%, from the same time period in 2019 when it was $466,314).

• 68 homes came on the market. That’s up 39% from December 2019.

• Homes that sold (closed) averaged 20 days on market, 8 days faster than in December of 2019.

• 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 Reston – and 78 Reston homes for sale (townhouse, condo and single-family).

Additional Year End Stats – 2019 vs 2020:

Average sold price increased by 7.3% ($479,389 vs $514,221)

Total units sold increased by 4.6%

Average sales price to original list price ratio increased – 98.5 vs 99.6%

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

We broke Reston down in two markets…above $700,000 and below.  The months supply for both segments was 0.6 – very much a Seller’s Market in both.  Inventory continues to be low and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”.

Reston November 2020 Home Sales:

• 102 homes went under contract in Reston. This is up 3% from the same time period in 2019.

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

• Average sold price was $557,029 (up 8%, from the same time period in 2019 when it was $516,846).

• 100 homes came on the market. That’s up 32% from November 2019.

• Homes that sold (closed) averaged 18 days on market, 25 days faster than in November 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 Reston – and 116 Reston homes for sale (townhouse, condo and single-family).

OVERALL: Reston remains in a Seller’s 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 a bit year-over-year but activity did slow a bit compared to October and inventory increased slightly.

We broke Reston down in two markets…above $700,000 and below.  The months supply was 0.7 and 0.8 respectively – very much a Seller’s Market in both.  Inventory continues to be low and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”.

Reston October 2020 Home Sales:

• 113 homes went under contract in Reston. This is up 5% from the same time period in 2019.

• 65% of the homes went to settlement in October 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $537,184 (up 7%, from the same time period in 2019 when it was $500,459).

• 128 homes came on the market. That’s down 3% from October 2019.

• Homes that sold (closed) averaged 16 days on market, 20 days faster than in October of 2019.

• 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 Reston – and 93 Reston homes for sale (townhouse, condo and single-family).

OVERALL: Reston remains in a Seller’s Market.  Again, the number of homes that went under contract and came on the market in October was down from September.  In fact, inventory in Reston decreased by 34% during the month.  It goes without saying…low inventory remains an issue!

We broke Reston down in two markets…above $700,000 and below.  The months supply was 1.0 and 1.1 respectively – very much a Seller’s Market in both.  Inventory continues to be low and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”.

Reston September 2020 Home Sales:

• 134 homes went under contract in Reston. This is up 23% from the same time period in 2019.

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

• Average sold price was $513,488 (up 15%, from the same time period in 2019 when it was $445,555).

• 181 homes came on the market. That’s up 42% from September 2019.

• Homes that sold (closed) averaged 19 days on market, 24 days faster than in September of 2019.

• 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 Reston – and 140 Reston homes for sale (townhouse, condo and single-family).

OVERALL: Reston remains in a Sellers Market.  Although the number of home that went under contract in September was down from last month, that and the other stats noted are still up (some significantly) year-over-year.  Inventory in Reston saw a bump up during the month…increasing by 28%.

We broke Reston down in two markets…above $700,000 and below.  The months supply was 1.5 and 1.1 respectively – very much a Sellers Market especially in the lower price range.  Despite the increase in September, inventory continues to be low and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”.

Reston August 2020 Home Sales:

• 165 homes went under contract in Reston. This is up 38.7% from the same time period in 2019.

• 62% of the homes went to settlement in August 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $526,866 (up 12.4%, from the same time period in 2019 when it was $468,905).

• 161 homes came on the market. That’s up 18.4% from August 2019.

• Homes that sold (closed) averaged 19 days on market, 7 days faster than in August 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 Reston – and 109 Reston homes for sale (townhouse, condo and single-family).

OVERALL: Reston remains in a Sellers Market.  The number of homes that went under contract is up compared to July and up significantly year-over-year.  The number of properties that came on the market is also up from this time last year but inventory overall went down…creating a competitive market for buyers. 

We broke Reston down in two markets…above $700,000 and below.  The months supply was 1.9 and 0.8 respectively – very much a Sellers Market especially in the lower price range.  Inventory continues to be low and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”.

Reston July 2020 Home Sales:

• 146 homes went under contract in Reston. This is up 5% from the same time period in 2019.

• 61% of the homes went to settlement in July 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $585,859 (up 20%, from the same time period in 2019 when it was $488,159).

• 169 homes came on the market. That’s up 13% from July 2019.

• Homes that sold (closed) averaged 22 days on market, 2 days slower than in July of 2019.

• 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 Reston – and 143 Reston homes for sale (townhouse, condo and single-family).

OVERALL: Reston remains in a Sellers Market.  The market activity was similar to June although some numbers saw an increase from the same time period last year. 

We broke Reston down in two markets…above $700,000 and below.  The months supply was 2.0 (down from 3.1 last month) and 0.8 respectively – very much a Sellers Market especially in the lower price range.  Inventory continues to be low and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”.

Reston June 2020 Home Sales:

• 138 homes went under contract in Reston. This is down 8.6% from the same time period in 2019.

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

• Average sold price was $470,758 (down 7.5%, from the same time period in 2019 when it was $508,773).

• 160 homes came on the market. That’s down 1.2% from June 2019.

• Homes that sold (closed) averaged 15 days on market, 10 days faster than in June of 2019.

• 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 Reston – and 138 Reston homes for sale (townhouse, condo and single-family).

OVERALL: Reston remains in a Sellers Market.  Although this market picked up in June, most of the stats are still down from the same time period in 2019.  And inventory remains low as in may of the areas in the region. 

We broke Reston down in two markets…above $700,000 and below.  The months supply was 3.1 (down from 4.2 last month) and 1.0 respectively – very much a Sellers Market especially in the lower price range.  Inventory continues to be low and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”.

Reston May 2020 Home Sales:

• 115 homes went under contract in Reston. This is down 29% from the same time period in 2019.

• 61% of the homes went to settlement in May 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $472,202 (down .1%, from the same time period in 2019 when it was $472,534).

• 141 homes came on the market. That’s down 36.2% from May 2019.

• Homes that sold (closed) averaged 12 days on market, 9 days faster than in May 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 Reston – and 137 Reston homes for sale (townhouse, condo and single-family).

OVERALL: Reston remains in a Sellers Market.  Compared to last month, the number of homes that went under contract increased and the number of new homes that came on the market stayed the same.  However, compared to this time last year, both of these numbers were down again significantly…expected given the current Coronavirus environment. 

We broke Reston down in two markets…above $700,000 and below.  The months supply was 4.2 and 1.1 respectively – very much a Sellers Market especially in the lower price range.  Inventory continues to be low and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”.

Reston April 2020 Home Sales:

• 107 homes went under contract in Reston. This is down 25.2% from the same time period in 2019.

• 79% of the homes went to settlement in April 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $494,590 (up 3.5%, from the same time period in 2019 when it was $477,755).

• 141 homes came on the market. That’s down 31.2% from April 2019.

• Homes that sold (closed) averaged 11 days on market, 6 days faster 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 Reston – and 138 Reston homes for sale (townhouse, condo and single-family).

OVERALL: Reston 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 were also down…expected given the current Coronavirus environment.  However, homes are selling quickly in this area (see Average Days on Market above).

We broke Reston down in two markets…above $700,000 and below.  The months supply was 3.8 and 0.9 respectively – very much a Sellers Market.  Inventory continues to be low and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”.

Reston March 2020 Home Sales:

• 137 homes went under contract in Reston. This is down 6.2% from the same time period in 2019.

• 71% of the homes went to settlement in March 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $483,681 (up 3.6%, from the same time period in 2019 when it was $467,019).

• 184 homes came on the market. That’s down 3.7% from March 2019.

• Homes that sold (closed) averaged 19 days on market, 1 day 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 Reston – and 136 Reston homes for sale (townhouse, condo and single-family).

OVERALL: Reston 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 6.2% and 3.7% respectively from the same time period last year.  Homes that closed in March sold faster than in February and even though the number of homes for sale increased over the month, low inventory remains an issue.

We broke Reston down in two markets…above $700,000 and below.  The months supply was 3.6 (up from 3.3 last month) and 1.2 respectively (up from 0.8 last month) – very much a Sellers Market.  Inventory continues to be low and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”.

Reston February 2020 Home Sales:

• 103 homes went under contract in Reston. This is down 4.6% from the same time period in 2019.

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

• Average sold price was $493,324 (up 5.2%, from the same time period in 2019 when it was $469,010).

• 161 homes came on the market. That’s up 15% from February 2019.

• Homes that sold (closed) averaged 32 days on market, 2 days faster than in February 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 Reston – and 117 Reston homes for sale (townhouse, condo and single-family).

OVERALL: Reston remains in a Sellers Market.  Activity increased again in February with the number of homes coming on the market and going under contract increasing.  Low inventory continues to be an issue even though the number of homes for sale increased from January.

We broke Reston down in two markets…above $700,000 and below.  The months supply were 3.3 (up from 2.0 last month) and 0.8 respectively – very much a Sellers Market.  Inventory continues to be low and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”. 

Reston January 2020 Home Sales:

• 83 homes went under contract in Reston. This is up 17% from the same time period in 2019.

• 34% of the homes went to settlement in January 2020, sold in 10 days or less from when they hit the market.  

• Average sold price was $461,410 (up 6%, from the same time period in 2019 when it was $435,148).

• 93 homes came on the market. That’s up 12% from January 2019.

• Homes that sold (closed) averaged 38 days on market, 20 days faster than in January of 2019.

• 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 Reston – and 78 Reston homes for sale (townhouse, condo and single family).

OVERALL: Reston remains in a Sellers Market.  Activity in this market increased in January with the number of homes coming on the market and going under contract increasing.  All statistic we look at also increased over the same time period in 2019.   Low inventory continues to be an issue with the number of homes for sale staying the same as December.

We broke Reston down in two markets…above $700,000 and below.  The months supply were 2.0 and 0.5 respectively – very much a Sellers Market.  Inventory continues to be low and if the home is priced right it will sell fast and sellers may find themselves in a multiple offer situation if they are priced “competitively”.