Vienna Oakton Weekly Real Estate Update

With less than a week to go before the Homebuyer Tax Credit expires (contracts must be ratified by Friday, April 30th), sales are still brisk in the Vienna Oakton area.

A total of 40 homes went under contract this past week. This matches last week’s high for 2010. 78% of the homes that went under contract were listed under $800,000. But we finally saw a few homes between $800,000 and $1,000,000 sell. 

Average days on market remains at just about the 3 month mark – with 96 days in Vienna and 90 days in Oakton.

The supply of homes is also at just around 3 months, with Vienna’s supply at 2.9 months and Oakton’s supply at 3.2 months.

An interesting note to both Buyers and Sellers is that of the 40 homes that went under contract this week, 20 went under contract in 10 days or less. Sellers seem to be pricing more realistically and Buyers who want to buy need to be prepared to move quickly.

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