“Any astronomer can predict with absolute accuracy just where every star in the universe will be at 11.30 tonight. He can make no such prediction about his teenage daughter.”
Isn’t that a great quote from James T. Adams? We think the real estate market is the same way. We might think we can predict what will happen (like things slowing down over the holidays), but market conditions can change in the blink of an eye. This is why we track detailed statistics weekly for our Buyers & Sellers.
Right now, inventory in Oakton is at its lowest level since December 2010. And Vienna is not far behind. Savvy Sellers are taking advantage of that and are prepping to get their homes on the market before Spring hits, so they can take advantage of the pent up demand that exists.(The Belt Team has been out on multiple appointments with Spring Sellers to walk through their homes & help them know what needs to be done before they go on the market, and more importantly – what things they don’t have to spend money or time doing.)
Brilliant Buyers are also doing their part to get ready for an early opportunity to jump on new inventory when it comes on the market. Not only are they making sure they have seen the existing inventory, but they are already approved for a mortgage (not just “pre-qualified”) and they are working with a real estate team who lists lots of homes in the area they are looking because that is a GREAT way to find out about homes BEFORE they come on the market.
Here are the detailed market statistics for Vienna & Oakton:
Last week in Vienna Real Estate (22180,22181, 22182):
- Number of Contracts: 6
- Average Days on Market for Active Listings: 131 days
- Average Days on Market for Listings That Went Under Contract: 90 days
- Inventory: 123 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): 2.6 months
Last week in Oakton Real Estate (22124):
- Number of Contracts: 7
- Average Days on Market for Active Listings: 118 days
- Average Days on Market for Listings That Went Under Contract: 80
- Inventory: 55 homes on the market
- Number of Months Supply of Homes (Based on past 90 day contract rate): 2.3 months
- Number of Months Supply of Homes (Based on past 30 day contract rate): 2.8 months
Sometimes you need to buy or sell a home no matter what is happening in the market. Maybe you’re having a baby & you need more space. Or you’re a military or relocation family who has been transferred. Or you’re looking to “right-size” your home. No matter why you’re moving, we can help you make the BEST move. If you’re thinking of buying or selling a home, Contact The Belt Team at (703) 242-3975. We think you deserve the BEST Realtors in Northern Virginia!