Wondering what’s happening in the real estate market in Vienna & Oakton? Here’s this week’s update. (Contact The Belt Team if you would like statistics on YOUR particular market!)
- Inventory rose slightly (5%) – up by 8 units in Oakton and 5 units in Vienna
- Average days on market for active listings declined in both areas – down to 91 days in Vienna and 88 days in Oakton.
- Housing supply in both areas still shows a Seller’s Market. There is a 2 month supply in Vienna and a 2.3 month supply in Oakton. (But remember, market supply also varies vastly within the same city, but in different price ranges.)
- 25% of the homes that went under contract in Oakton this week sold in 2 weeks or less. In Vienna, that figure was almost double – at 45%.
Last week in Vienna Real Estate (22180,22181, 22182):
- Number of Contracts: 20
- Average Days on Market for Active Listings: 91 days
- Average Days on Market for Listings That Went Under Contract: 105 days
- Inventory: 208 homes on the market
- Number of Months Supply of Homes (Based on past 90 day contract rate): 2.1 months
- Number of Months Supply of Homes (Based on past 30 day contract rate): 2.0 months
Last week in Oakton Real Estate (22124):
- Number of Contracts: 8
- Average Days on Market for Active Listings: 88 days
- Average Days on Market for Listings That Went Under Contract: 51
- Inventory: 83 homes on the market
- Number of Months Supply of Homes (Based on past 90 day contract rate): 2.7 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!
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?