Real Estate Update – Vienna, VA & Oakton, VA

Here is what are we seeing this week in the Vienna & Oakton real estate markets:

  • In Vienna, inventory has increased to its highest level since late July. In Oakton, inventory is down slightly from last week, but still remains at one of the highest levels we have seen this year.
  • Average days on market are fairly stable – with 111 days in Vienna and 109 days in Oakton.
  • The contract rate dropped in both Vienna & Oakton. Vienna saw the fewest number of contracts ever this year – with just 8 contracts this week. Oakton only had 5 contracts this past week. 
  • In Vienna, of the 8 homes that went under contract, 5 were listed above $800,000. In Oakton, NO homes that went under contract were listed above $800,000.
  • In terms of market supply, we are still in a balanced market (defined as 3-6 months housing supply), with less than a 5 month supply in both Vienna & Oakton.

Here are last week’s stats for Vienna Real Estate (22180,22181, 22182):

  • Number of Contracts: 8
  • Average Days on Market for Active Listings: 111 days
  • Average Days on Market for Listings That Went Under Contract: 96 days
  • Inventory: 265 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 4.1 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 4.7 months

Here are last week’s stats for Oakton Real Estate (22124):

  • Number of Contracts: 5
  • Average Days on Market for Active Listings: 109 days
  • Average Days on Market for Listings That Went Under Contract: 57 days
  • Inventory: 98 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 4.8 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 3.8 months

If you’re thinking of buying or selling, contact The Belt Team for a more in-depth discussion & analysis – because it’s only the neighborhood YOU live in (or you WANT to live in) that matters!

One thought on “Real Estate Update – Vienna, VA & Oakton, VA

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