Buyer's Market Or Seller's Market – Can It Be Both?

                     

Vienna and Oakton’s housing markets are still cruising along. With less than a 3 month supply of homes in Oakton and less than a 2 month supply in Vienna – yes, you guessed it – we remain in a Seller’s Market in both areas.

But let’s break things down a little more and check out what’s happening in different price ranges, because the reality is that while the overall statistics might say Seller’s Market, that may not be the case in every price range. (Statistics below are based on today’s housing inventory and the past 30 days sales.)

OAKTON:

  • Up to $799,999: 45 homes currently listed, 1.9 month housing supply (Seller’s Market)
  • $800,000 – $1,099,999: 9 homes currently listed, 1.1 month housing supply (Seller’s Market)
  • $1,100,000 – $1,249,999: 7 homes currently listed, no sales in past 30 days
  • $1,250,000 – $1,500,000: 10 homes currently listed, 5 month housing supply (Balanced Market)
  • Above $1,500,000: 9 homes currently listed, 9 month housing supply  (Buyer’s Market)

VIENNA:

  • Up to $799,999: 70  homes currently listed, less than 1 month housing supply (Seller’s Market)
  • $800,000 – $1,099,999: 38 homes currently listed, 2.1 month housing supply (Seller’s Market)
  • $1,100,000 – $1,249,999: 23  homes currently listed, 3.3 month housing supply (Balanced Market)
  • $1,250,000 – $1,500,000: 36 homes currently listed, 9 month housing supply (Buyer’s Market)
  • Above $1,500,000: 20 homes currently listed, 6.7 month housing supply  (Buyer’s Market – close to a Balanced Market)

So, the answer to the question of whether we can be in both a Buyer’s Market AND a Seller’s Market – is YES!

These statistics really point out why Buyers & Sellers should not base their decisions on what they read in the national news. Working with a Realtor who really knows YOUR market can be invaluable not only when you are strategizing pricing, but when you are evaluating other concerns as well (like re-sale value & potential re-sale challenges.)

Detailed statistics for last week in Vienna & Oakton are below. Contact The Belt Team if you would like statistics on YOUR particular market!

Last week in Vienna Real Estate (22180,22181, 22182):

  • Number of Contracts: 27
  • Average Days on Market for Active Listings: 102 days
  • Average Days on Market for Listings That Went Under Contract: 59 days
  • Inventory: 187 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 2.0 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 1.6 months

Here are last week’s stats for Oakton Real Estate (22124):

  • Number of Contracts: 9
  • Average Days on Market for Active Listings: 86 days
  • Average Days on Market for Listings That Went Under Contract: 28
  • Inventory: 80 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 2.9 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 2.3 months

If you’re thinking of buying or selling a home, Contact The Belt Team at (703) 242-3975 for a more in-depth discussion & analysis – because it’s only the neighborhood YOU live in (or you WANT to live in) that matters. We’ll be happy to schedule a consultation and get very detailed about “YOUR Market”? so that you can make the decision that is best for YOU!

Also, you can read more about:

You can also listen to How Buyers Should Choose The Right Realtor.

Email The Belt Team (or call us at 703-242-3975) to request a FREE WRITTEN REPORT of your home’s value or to be put on our FREE PRIORITY NOTIFICATION LIST for special buying opportunities that are not in the MLS or on the Internet. In a market like this, don’t you want to know about homes BEFORE they hit the market?

One thought on “Buyer's Market Or Seller's Market – Can It Be Both?

  1. Pingback: The Belt Team's Northern Virginia Real Estate Blog » Blog Archive » CRAZY BUSY – Buyers & Sellers BOTH Need To Do Their Homework

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