There’s an old song called “Hot Hot Hot“. (You can see the video below.) Well – “hot, hot, hot” is a very apt description of today’s Vienna real estate market. And Oakton’s real estate market is not far behind.
Vienna’s inventory is back down to 200 homes. That’s the lowest it’s been since April. And while contracts have slowed slightly, the market is still moving fairly quickly. Last week 47% of the homes that sold, sold in two weeks or less. And with housing supply less than 3 months, we’re still in a Seller’s Market in Vienna.
Last week in Vienna Real Estate (22180,22181, 22182):
- Number of Contracts: 15
- Average Days on Market for Active Listings: 97 days
- Average Days on Market for Listings That Went Under Contract: 61 days
- Inventory: 200 homes on the market
- Number of Months Supply of Homes (Based on past 90 day contract rate): 2.4 months
- Number of Months Supply of Homes (Based on past 30 day contract rate): 2.5 months
Oakton inventory, on the other hand, has increased just a bit and sits at 87 homes. The number of homes going under contract over the past month has been average – with 6-7 homes per week selling. And homes in Oakton are moving at about the same pace as those in Vienna. 43% of those sold in the past week, sold in two weeks or less. Housing supply of just about 3 months puts Oakton in a Balanced Market.
Last week in Oakton Real Estate (22124):
- Number of Contracts: 7
- Average Days on Market for Active Listings: 79 days
- Average Days on Market for Listings That Went Under Contract: 93
- Inventory: 87 homes on the market
- Number of Months Supply of Homes (Based on past 90 day contract rate): 3.0 months
- Number of Months Supply of Homes (Based on past 30 day contract rate): 3.2 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!
Request a FREE WRITTEN REPORT of your home’s value, set up FREE LISTING ALERTS so you can find out about new listings daily or ask to join our FREE PRIORITY NOTIFICATION LIST for special buying opportunities that are not in the MLS or on the Internet. In an environment like this, don’t you want to know about homes BEFORE they hit the market?!