Wondering what’s been happening in the Vienna & Oakton real estate markets over the past week?
Well . . .
- Vienna inventory is at its highest point in 2013. (There are 151 homes on the market.) BUT – homes are still selling quickly. Last week 56% of the homes that went under contract sold in a week or less. AND there is less than a 3 month supply of housing. (That means we’re STILL in a borderline Seller’s Market.)
- Oakton inventory is right about what we saw in the May/June market. There are 84 homes for sale in Oakton today. Homes are moving a little slower there, but still moving at a good pace. Last week, 29% of the homes that went under contract sold in a week or less, and 43% sold in two weeks or less. Based on the past 30 days, there is exactly a 3 month supply of housing.
BUYERS – You still have time to find that dream home and move in in time for the holidays! Don’t miss the opportunity to toast to the new year in your new home! One thing you can do to make this happen is to make sure you are using a web site to search homes that is updated constantly (as opposed to daily or even several times a day). Not doing so may mean you miss out on that PERFECT property you have been waiting for. (The Belt Team just launched a brand new, FREE, state-of-the-art Northern Virginia real estate search site and we’re getting great feedback from our buyers. You might want to test it out!)
SELLERS – Based on the traffic we are seeing at open houses, the buyer traffic on our web site and how quickly our listings are selling – we believe there is a ton of pent up demand. Our advise is to position yourself to sell earlier rather than later when there is more competition. (Call 703-242-3975 for info about our offer for a FREE consultation with our professional stager and be ready to hit the market in January!)
Here are this week’s stats:
Vienna Real Estate (22180,22181, 22182):
- Number of Contracts: 9
- Average Days on Market for Active Listings: 114 days
- Average Days on Market for Listings That Went Under Contract: 20 days
- Inventory: 151 homes on the market
- Number of Months Supply of Homes (Based on past 90 day contract rate): 2.2 months
- Number of Months Supply of Homes (Based on past 30 day contract rate): 2.6 months
Oakton Real Estate (22124):
- Number of Contracts: 7
- Average Days on Market for Active Listings: 107 days
- Average Days on Market for Listings That Went Under Contract: 76 days
- Inventory: 84 homes on the market
- Number of Months Supply of Homes (Based on past 90 day contract rate): 3.3 months
- Number of Months Supply of Homes (Based on past 30 day contract rate): 3.0 months
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