Vienna Real Estate Stats – October 2017 Update

Let’s see what’s happening in the Vienna real estate market – September 2017 home sale stats are in!

  • 61 homes went under contract in Vienna. This is flat as compared to the same time period in 2016.
  • Homes are selling faster than a year ago! 38% of the homes that sold in September 2017, sold in 10 days or less. This is up from 24% in September 2016 (%).
  • Average sold price was up 2% over September 2016.
  • 107 homes came on the market. That’s down 16% from September 2016.
  • Homes that sold (closed) averaged 47 days on market, 6 days faster than September 2016.
  • We currently have a 3.3 month supply of homes in Vienna – and 212 Vienna homes for sale (townhouse, condo and single family).

OVERALL: Vienna has entered a Balanced Market for the first time in many years!

However, in any given price range, the numbers may skew very differently – making some price ranges a Seller’s Market, some Balanced and some a Buyer’s Market. A Balanced Market has 3-6 months of inventory. As an example – we have a 9 month supply of homes over $1.7 Million and in the under $800,000 price range – we have a 1.8 month supply. This means Buyers over $1.7 Million are looking at a Buyer’s Market, and Buyers in the lower ranges are competing and facing a Seller’s Market.


BUYERS & SELLERS

Make sure your agent is providing you with the data you need to make good decisions. Buying and selling often becomes about emotion. Buyers fall in love with homes or want to “get a deal” to feel good about buying. Sellers are invested in how much THEY love their home or have a number in mind based on what they “need” to get out of it.

WHat Is My Home Worth

The reality is that Buyers & Sellers who are successful in today’s market look at the data and act accordingly. The data above about the variances in different price ranges is a perfect example of why. Right here in Vienna we have two totally different markets. If you’re looking to buy, and you “make an offer” below list price – you might be VERY successful in the upper ranges because we have such an abundant supply of homes. Taking that same action in the lower price range will likely mean you don’t get the house of your dreams. Someone else will.

BUYERS:

With more than a third of homes selling in less than 10 days – you need all the advantages you can get. And this doesn’t even count the ones that are sold BEFORE they hit the MLS. In fact, this year The Belt Team has sold multiple Vienna homes NOT in the MLS to Buyer we’ve been working with since last year. Boy are they happy! Did you know that Belt Team Buyers are eligible for our FREE Priority Notification List for new listings not yet in the MLS?! Call 703-242-3975 for details.

SELLERS:

NOW is the time. Call Terry Belt, Kevin Kleifges, Beth Dadisman or Tom Hanton NOW at 703-242-3975 for our FREE Report “42 Questions To Ask Your Realtor BEFORE You Sell”. And find out how our listings sell FASTER and for MORE MONEY than the average agent’s listings.

 For more questions or for a specific update on YOUR neighborhood – call Terry Belt & The Belt Team at (703) 242-3975 for a FREE Buyer or Seller Consultation. The Belt Team is Vienna’s Top Real Estate Team and has sold more homes in Vienna than another other Realtor or team since 1973.
top-realtor-vienna-oakton-va

Vienna Real Estate Stats – September 2017 Update

Let’s see what’s happening in the Vienna real estate market – August 2017 home sale stats are in!

  • 73 homes went under contract in Vienna. This is down 14% from the same time period in 2016.
  • 33% of the homes that sold in August 2017, sold in 10 days or less. This is up over August 2016 (26%).
  • Average sold price was just barely down over August 2016 by 1%
  • 99 homes came on the market. That’s down 15% from August 2016.
  • Homes that sold (closed) averaged 45 days on market, 21 days faster than August 2016.
  • We currently have a 2.7 month supply of homes in Vienna – and 207 Vienna homes for sale (townhouse, condo and single family).

OVERALL: Vienna is teetering between a Seller’s Market and a Balanced Market

However, in any given price range, the numbers may skew very differently – making some price ranges a Seller’s Market, some Balanced and some a Buyer’s Market. A Balanced Market has 3-6 months of inventory. As an example – we have a 17 month supply of homes over $1.6 Million and in the under $800,000 price range – we have a 1.3 month supply. This means Buyers over $1.6 Million are looking at a serious Buyer’s Market, and Buyers in the lower ranges are competing and facing a Seller’s Market.


BUYERS & SELLERS

Make sure your agent is providing you with the data you need to make good decisions. Buying and selling often becomes about emotion. Buyers fall in love with homes or want to “get a deal” to feel good about buying. Sellers are invested in how much THEY love their home or have a number in mind based on what they “need” to get out of it.

WHat Is My Home Worth

The reality is that Buyers & Sellers who are successful in today’s market look at the data and act accordingly. The data above about the variances in different price ranges is a perfect example of why. Right here in Vienna we have two totally different markets. If you’re looking to buy, and you “make an offer” below list price – you might be VERY successful in the upper ranges because we have such an abundant supply of homes. Taking that same action in the lower price range will likely mean you don’t get the house of your dreams. Someone else will.

BUYERS:

With a third of homes selling in less than 10 days – you need all the advantages you can get. And this doesn’t even count the ones that are sold BEFORE they hit the MLS. In fact, this year The Belt Team has sold multiple Vienna homes NOT in the MLS to Buyer we’ve been working with since last year. Boy are they happy! Did you know that Belt Team Buyers are eligible for our FREE Priority Notification List for new listings not yet in the MLS?! Call 703-242-3975 for details.

SELLERS:

NOW is the time. Call Terry Belt or Kevin Kleifges Or Tom Hanton NOW at 703-242-3975 for our FREE Report “42 Questions To Ask Your Realtor BEFORE You Sell”. And find out how our listings sell FASTER and for MORE MONEY than the average agent’s listings.

 For more questions or for a specific update on YOUR neighborhood – call Terry Belt & The Belt Team at (703) 242-3975 for a FREE Buyer or Seller Consultation. The Belt Team is Vienna’s Top Real Estate Team and has sold more homes in Vienna than another other Realtor or team since 1973.
top-realtor-vienna-oakton-va

Vienna Real Estate Stats – August 2017 Update

Let’s see what’s happening in the Vienna real estate market – here are the stats for July 2017 home sales:

  • 73 homes went under contract in Vienna. This is down 14% from the same time period in 2016.
  • 38% of the homes that sold in July 2017, sold in 10 days or less. This is way up over July 2016 market of 28%.
  • Average sold price was $836,779 (up 7% from 2016 when it was $783,914)
  • 99 homes came on the market. That’s down 15% from July 2016!
  • Homes that sold (closed) averaged 71 days on market, 10 days slower than July 2016.
  • We currently have a 2.6 month supply of homes in Vienna – and 236 Vienna homes for sale (townhouse, condo and single family).

OVERALL: Vienna is still just barely in a Seller’s Market

However, in any given price range, the numbers may skew very differently – making some price ranges a Seller’s Market, some Balanced and some a Buyer’s Market. A Balanced Market has 3-6 months of inventory. As an example – we have a 17 month supply of homes over $1.6 Million and in the under $800,000 price range – we have a 1.3 month supply. This means Buyers over $1.6 Million are looking at a serious Buyer’s Market, and Buyers in the lower ranges are competing and facing a Seller’s Market.


BUYERS & SELLERS

Make sure your agent is providing you with the data you need to make good decisions. Buying and selling often becomes about emotion. Buyers fall in love with homes or want to “get a deal” to feel good about buying. Sellers are invested in how much THEY love their home or have a number in mind based on what they “need” to get out of it.

WHat Is My Home Worth

The reality is that Buyers & Sellers who are successful in today’s market look at the data and act accordingly. The data above about the variances in different price ranges is a perfect example of why. Right here in Vienna we have two totally different markets. If you’re looking to buy, and you “make an offer” below list price – you might be VERY successful in the upper ranges because we have such an abundant supply of homes. Taking that same action in the lower price range will likely mean you don’t get the house of your dreams. Someone else will.

BUYERS:

With more than a third of homes selling in less than 10 days – you need all the advantages you can get. And this doesn’t even count the ones that are sold BEFORE they hit the MLS. In fact, this year The Belt Team has sold multiple Vienna homes NOT in the MLS to Buyer we’ve been working with since last year. Boy are they happy! Did you know that Belt Team Buyers are eligible for our FREE Priority Notification List for new listings not yet in the MLS?! Call 703-242-3975 for details.

SELLERS:

NOW is the time. Call Terry Belt or Kevin Kleifges Or Tom Hanton NOW at 703-242-3975 for our FREE Report “42 Questions To Ask Your Realtor BEFORE You Sell”. And find out how our listings sell FASTER and for MORE MONEY than the average agent’s listings.

 For more questions or for a specific update on YOUR neighborhood – call Terry Belt & The Belt Team at (703) 242-3975 for a FREE Buyer or Seller Consultation. The Belt Team is Vienna’s Top Real Estate Team and has sold more homes in Vienna than another other Realtor or team since 1973.
top-realtor-vienna-oakton-va

Vienna Real Estate Stats – June 2017 Update

Let’s see what’s happening in the Vienna real estate market – here are the stats for May 2017 home sales:

  • 119 homes went under contract in Vienna. This is up 32% from the same time period in 2016 !!!
  • 45% of the homes that sold in May 2017, sold in 10 days or less. This is slightly less than May 2016 (50%).
  • Average sold price was $838,454 (up 13% from 2016 when it was $739,807)
  • 164 homes came on the market. That’s down 2% from May 2016.
  • Homes that sold (closed) averaged 57 days on market, 29 days slower than May 2016.
  • We currently have a 2 month supply of homes in Vienna – and 236 Vienna homes for sale (townhouse, condo and single family).

Is Vienna In A Seller's Market?

OVERALL: Vienna is in a Seller’s Market

However, in any given price range, the numbers may skew very differently – making some price ranges a Seller’s Market and some a Buyer’s Market. For example – we have a 14 month supply of homes over $1.6 Million and in the under $800,000 price range – we have a 1 month supply. This means Buyers over $1.6 Million are looking at a serious Buyer’s Market, and Buyers in the lower ranges are competing and facing an ultra aggressive Seller’s Market.


BUYERS & SELLERS

Make sure your agent is providing you with the data you need to make good decisions. Buying and selling often becomes about emotion. Buyers fall in love with homes or want to “get a deal” to feel good about buying. Sellers are invested in how much THEY love their home or have a number in mind based on what they “need” to get out of it.

WHat Is My Home Worth

The reality is that Buyers & Sellers who are successful in today’s market look at the data and act accordingly. The data above about the variances in different price ranges is a perfect example of why. Right here in Vienna we have two totally different markets. If you’re looking to buy, and you “make an offer” below list price – you might be VERY successful in the upper ranges because we have such an abundant supply of homes. Taking that same action in the lower price range will likely mean you don’t get the house of your dreams. Someone else will.

BUYERS:

With almost half of the homes selling in less than 10 days – you need all the advantages you can get. And this doesn’t even count the ones that are sold BEFORE they hit the MLS. In fact, just last month The Belt Team sold another Vienna home NOT in the MLS to a Buyer we’ve been working with since last year. Boy are they happy! Did you know that Belt Team Buyers are eligible for our FREE Priority Notification List for new listings not yet in the MLS?! Call 703-242-3975 for details.

SELLERS:

NOW is the time. Call Terry Belt or Kevin Kleifges Or Tom Hanton NOW at 703-242-3975 for our FREE Report “42 Questions To Ask Your Realtor BEFORE You Sell”. And find out how our listings sell FASTER and for MORE MONEY than the average agent’s listings.

 For more questions or for a specific update on YOUR neighborhood – call Terry Belt & The Belt Team at (703) 242-3975 for a FREE Buyer or Seller Consultation. The Belt Team is Vienna’s Top Real Estate Team and has sold more homes in Vienna than another other Realtor or team since 1973.
top-realtor-vienna-oakton-va

Vienna Real Estate Stats – May 2017 Update

Let’s see what’s happening in the Vienna real estate market – here are the stats for April 2017 home sales:

  • 121 homes went under contract in Vienna. This is up 22% from the same time period in 2016!
  • 48% of the homes that sold in April 2017, sold in 10 days or less. This is almost exactly the same as in April 2016.
  • Average sold price was $844,642 (up from 2016 when it was $796,700)
  • 139 homes came on the market. That’s down 24% from April 2016.
  • Homes that sold (closed) averaged 59 days on market, 22 days faster than April 2016.
  • We currently have a 1.8 month supply of homes in Vienna – and 201 Vienna homes for sale (townhouse, condo and single family).

Is Vienna In A Seller's Market?

OVERALL: Vienna is in a Seller’s Market

However, in any given price range, the numbers may skew very differently – making some price ranges a Seller’s Market and some a Buyer’s Market. For example – we have an 18 month supply of homes over $1.7 Million and in the under $800,000 price range – we have a 1 month supply. This means Buyers over $1.7 Million are looking at a serious Buyer’s Market, and Buyers in the lower ranges are competing and facing an ultra aggressive Seller’s Market.


BUYERS & SELLERS

Make sure your agent is providing you with the data you need to make good decisions. Buying and selling often becomes about emotion. Buyers fall in love with homes or want to “get a deal” to feel good about buying. Sellers are invested in how much THEY love their home or have a number in mind based on what they “need” to get out of it.

WHat Is My Home Worth

The reality is that Buyers & Sellers who are successful in today’s market look at the data and act accordingly. The data above about the variances in different price ranges is a perfect example of why. Right here in Vienna we have two totally different markets. If you’re looking to buy, and you “make an offer” below list price – you might be VERY successful in the upper ranges because we have such an abundant supply of homes. Taking that same action in the lower price range will likely mean you don’t get the house of your dreams. Someone else will.

BUYERS:

With half of the homes selling in less than 10 days – you need all the advantages you can get. And this doesn’t even count the ones that are sold BEFORE they hit the MLS. In fact, just last month The Belt Team sold another Vienna home NOT in the MLS to a Buyer we’ve been working with since last year. Boy are they happy! Did you know that Belt Team Buyers are eligible for our FREE Priority Notification List for new listings not yet in the MLS?! Call 703-242-3975 for details.

SELLERS:

NOW is the time. Call Terry Belt or Kevin Kleifges Or Tom Hanton NOW at 703-242-3975 for our FREE Report “42 Questions To Ask Your Realtor BEFORE You Sell”. And find out how our listings sell FASTER and for MORE MONEY than the average agent’s listings.

 For more questions or for a specific update on YOUR neighborhood – call Terry Belt & The Belt Team at (703) 242-3975 for a FREE Buyer or Seller Consultation. The Belt Team is Vienna’s Top Real Estate Team and has sold more homes in Vienna than another other Realtor or team since 1973.
top-realtor-vienna-oakton-va

Vienna Real Estate Stats – 1st Quarter 2017 Home Sales

So we just finished the first quarter of 2017, let’s see what’s happening in the Vienna real estate market. Here are the stats:

265 homes went under contract in Vienna in the first quarter of 2017. This is up 33% from the same time period in 2016!

55% of the homes that sold first quarter, did so in under 30 days. That number was only 43% in 2016. And of the homes that went under contract first quarter, 32% sold in a week or less!

Average sold price in first quarter 2017 was $814,784 (up from 2016 when it was $746,181)

406 homes came on the market. That’s 9% more than in 2016.

  • Homes that sold (closed) in the first quarter averaged 75 days on market, just 6 days longer than in 2016.
  • We currently have a 2.3 month supply of homes in Vienna – and 210 Vienna homes for sale (townhouse, condo and single family).
  • We are teetering between a Balanced Market (neither a Buyer’s or a Seller’s market) and a Seller’s market overall. However, in any given price range, the numbers may skew very differently – making some price ranges a Seller’s Market and some a Buyer’s Market. For example – we have a 7 month supply of homes in the Vienna market over $1.3 Million. And in the under $800,000 price range – we have a 1.5 month supply. This means Buyers over $1.3 Million are looking at a Buyer’s Market, and Buyers in the lower ranges are competing and facing a serious Seller’s Market.

BUYERS & SELLERS

Make sure your agent is providing you with the data you need to make good decisions. Buying and selling often becomes about emotion. Buyers fall in love with homes or want to “get a deal” to feel good about buying. Sellers are invested in how much THEY love their home or have a number in mind based on what they “need” to get out of it.

WHat Is My Home Worth

The reality is that Buyers & Sellers who are successful in today’s market look at the data and act accordingly. The data above about the variances in different price ranges is a perfect example of why. Right here in Vienna we have two totally different markets. If you’re looking to buy, and you “make an offer” below list price – you might be VERY successful in the upper ranges because we have such an abundant supply of homes. Taking that same action in the lower price range will likely mean you don’t get the house of your dreams. Someone else will.

BUYERS:

With half of the homes selling in less than 30 days and 32% selling in a week or less – you need all the advantages you can get. And this doesn’t even count the ones that are sold BEFORE they hit the MLS. In fact, just this week The Belt Team sold another Vienna home NOT in the MLS to a Buyer we’ve been working with since last year. Boy are they happy! Did you know that Belt Team Buyers are eligible for our FREE Priority Notification List for new listings not yet in the MLS?! Call 703-242-3975 for details.

SELLERS:

NOW is the time. Call Terry Belt or Kevin Kleifges Or Tom Hanton NOW at 703-242-3975 for our FREE Report “42 Questions To Ask Your Realtor BEFORE You Sell”. And find out how our listings sell FASTER and for MORE MONEY than the average agent’s listings.

 For more questions or for a specific update on YOUR neighborhood – call Terry Belt & The Belt Team at (703) 242-3975 for a FREE Buyer or Seller Consultation. The Belt Team is Vienna’s Top Real Estate Team and has sold more homes in Vienna than another other Realtor or team since 1973.
top-realtor-vienna-oakton-va

The Belt Team Awarded Top 100 Real Estate Blog on The Planet

Northern VA Real Estate BlogsThe Belt Team was just notified that we have been named to the “Top 100 Real Estate Blogs on the Planet” list!

Our competition included not just other Realtors (of which there are more than 1.2 Million in the U.S.), but also entire brokerages (like Keller Williams Realty), listing portals (like Zillow) and news organizations (like Inman News). We are one of only 2 Realtors or teams in the entire state of Virginia to make the list. (The other was in Charlottesville). We are thrilled because that means the Sellers we represent have market exposure like no other Realtor can provide in Northern VA. And our buyers get the local “boots on the ground” info they need.

Real estate is local. It’s actually hyperlocal. What you read about in the paper, hear about on the news, see posted on Facebook, skim on Twitter or see delivered to your email – is NOT necessarily what’s happening in YOUR neighborhood. Even right here in Northern VA, what’s happening in Arlington may not match Alexandria. Great Falls and Falls Church may be on opposite ends of the spectrum. And even in the same town, things can be different. For example, the Vienna market is currently seeing both a buyer’s market and a seller’s market depending on price range.

THAT is why we started blogging TWENTY years ago. If you are thinking of buying or selling in Northern Virginia, THIS is where you want to be to find out local statistics and strategies for how to win in TODAY’S Northern VA real estate market. In addition to posting new listings, coming soon and TONS of local market stats, we also share real estate related strategies and info that benefit our clients.

Here are a few of our most popular blog posts over the years:

Call The Belt Team at (703) 242-3975. We’ll help you interpret the market in YOUR neighborhood or the neighborhood you’re moving to, so you can make the BEST move!

WHat Is My Home Worth