Reston July 2021 Home Sales:

• 133 homes went under contract in Reston. This is down 9% from the same time period in 2020.

• 59% of the homes went to settlement in July 2021, sold in 10 days or less from when they hit the market.  

• Average sold price was $551,860 (down 6%, from the same time period in 2020 when it was $585,859).

• 168 homes came on the market. That’s down 0.6% from July 2020.

• Homes that sold (closed) averaged 15 days on market, 7 days faster than in July of 2020.

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

OVERALL: Reston 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, and numbers decreased slightly year-over-year.

We broke Reston down in two markets…above $700,000 and below.  The months supply for both segments was 1.1 – 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 June 2021 Home Sales:

• 142 homes went under contract in Reston. This is up 3% from the same time period in 2020.

• 68% of the homes went to settlement in June 2021, sold in 10 days or less from when they hit the market.  

• Average sold price was $542,951 (up 15%, from the same time period in 2020 when it was $470,758).

• 182 homes came on the market. That’s up 14% from June 2020.

• Homes that sold (closed) averaged 15 days on market, same as in June of 2020.

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

OVERALL: Reston remained in a Seller’s Market.  As with last month, we didn’t see a significant change in the monthly numbers from May to June, and while most of the numbers are up from June of 2020, the percentage increases were smaller from the year-over-year changes we saw in May.  

We broke Reston down in two markets…above $700,000 and below.  The months supply for both segments was 1.1 – 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 May 2021 Home Sales:

• 175 homes went under contract in Reston. This is up 52% from the same time period in 2020.

• 72% of the homes went to settlement in May 2021, sold in 10 days or less from when they hit the market.  

• Average sold price was $545,589 (up 16%, from the same time period in 2020 when it was $472,202).

• 188 homes came on the market. That’s up 33% from May 2020.

• Homes that sold (closed) averaged 11 days on market, 1 day faster than in May of 2020.

• 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 Reston – and 114 Reston homes for sale (townhouse, condo and single-family).

OVERALL: Reston remained in a Seller’s Market.  We didn’t see a significant change in the numbers from April to May in Reston, but activity and average sold price were up double digits compared to this time last year (again, expected due to the pandemic).  And...low inventory remained an issue.

We broke Reston down in two markets…above $700,000 and below.  The months supply for the over $700,000 segments was 1.2, and it was 0.9 for under $700,000 – 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 are finding themselves in a multiple offer situation if they are priced “competitively”. 

Reston April 2021 Home Sales:

• 157 homes went under contract in Reston. This is up 47% from the same time period in 2020.

• 73% of the homes went to settlement in April 2021, sold in 10 days or less from when they hit the market.  

• Average sold price was $561,853 (up 14%, from the same time period in 2020 when it was $494,590).

• 199 homes came on the market. That’s up 41% from April 2020.

• Homes that sold (closed) averaged 13 days on market, 2 days slower than in April of 2020.

• 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 Reston – and 112 Reston homes for sale (townhouse, condo and single-family).

OVERALL: Reston remained in a Seller’s Market.  The number of homes that came on the market and went under contract were down slightly from March, however, were up significantly year-over-year (not surprising given the pandemic situation).  Inventory was up during the month but remained a challenge for buyers.  And the average sales price continued to increase (up 14% year-over-year).

Reston March 2021 Home Sales:

• 165 homes went under contract in Reston. This is up 20% from the same time period in 2020.

• 71% of the homes went to settlement in March 2021, sold in 10 days or less from when they hit the market.  

• Average sold price was $528,624 (up 9%, from the same time period in 2020 when it was $483,681).

• 190 homes came on the market. That’s up 3% from March 2020.

• Homes that sold (closed) averaged 18 days on market, 1 day faster than in March 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 Reston – and 83 Reston homes for sale (townhouse, condo and single-family).

OVERALL: Reston remained in a Seller’s Market.  The number of homes that came on the market and went under contract were up from February, as well as total inventory.  However, low inventory remained a big challenge for buyers and homes were selling fast...71% of homes that closed during the month sold in 10 days or less!  And the average sales price continued to increase  (up 9% year-over-year).

We broke Reston down in two markets…above $700,000 and below.  The months supply for the over $700,000 segments was 1.0, and it was 0.8 for under $700,000 – 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 are finding themselves in a multiple offer situation if they are priced “competitively”. 

Reston February 2021 Home Sales:

• 110 homes went under contract in Reston. This is up 7% from the same time period in 2020.

• 56% of the homes went to settlement in February 2021, sold in 10 days or less from when they hit the market. 

• Average sold price was $435,889 (down 12%, from the same time period in 2020 when it was $493,324).

• 141 homes came on the market. That’s down 12% from February 2020.

• Homes that sold (closed) averaged 32 days on market, the same as in February 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 Reston – and 78 Reston homes for sale (townhouse, condo and single-family).

OVERALL: Reston remains in a Seller’s Market.  Market activity in this area was up slightly from January but new listings were down from the same period in 2020.  Average sold prices were also down from February of last year.  Low inventory remains to be very much an issue. 

We broke Reston down in two markets…above $700,000 and below.  The months supply for the over $700,000 segments was 0.8, and it was 0.6 for under $700,000 – 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 January 2021 Home Sales:

• 98 homes went under contract in Reston. This is up 18% from the same time period in 2020.

• 46% of the homes went to settlement in January 2021, sold in 10 days or less from when they hit the market. 

• Average sold price was $506,041 (up 10%, from the same time period in 2020 when it was $461,410).

• 97 homes came on the market. That’s up 4% from January 2020.

• Homes that sold (closed) averaged 26 days on market, 12 days faster than in January of 2020.

• 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 Reston – and 64 Reston homes for sale (townhouse, condo and single-family).

OVERALL: Reston remains in a Seller’s Market.  Market activity in this area was up slightly from December and from the same period in 2020.  Average sold prices were down slightly from December but up from January of last year.  Low inventory remains to be very much an issue. 

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”.