Real Estate Update – How Does 2010 Compare to 2009 in Vienna – Oakton?

How does 2010 compare to 2009 for the first 9 months of the year for Vienna and Oakton?

  • Jan-Sep Sales in Vienna for 2010: 707
  • Jan-Sep Sales in Vienna for 2009: 668
  • Sales in Vienna in 2010 are up 6% over 2009 (thru September).
  • Jan-Sep Sales in Oakton for 2010: 203
  • Jan-Sep Sales in Oakton for 2009: 195
  • Sales in Oakton in 2010 are up 4% over 2009 (thru September).

(We’ll update you again next week on 2009 v. 2010 when we have stats for October.)

Now, here’s our regular weekly update on the Vienna & Oakton real estate markets. This is what are we seeing:

  • Inventory is up 5% in Vienna over last week and stable in Oakton.
  • Average days on market for active listings is rising – up by about 1 week in each area.
  • The contract rate in both Vienna and Oakton remained stable.
  • 24% of the homes that went under contract this week were listed over $800,000.
  • In terms of market supply, 3.8 -4.4 months still puts as in a “balanced market” (defined as 3-6 months housing supply).
  • Anecdotal info tells us that there are still active buyers in the market. Open houses are still being attended. And agents are continuing to call us looking for new inventory for their buyers.

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

  • Number of Contracts: 16
  • Average Days on Market for Active Listings: 117 days
  • Average Days on Market for Listings That Went Under Contract: 52 days
  • Inventory: 264 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 4.2 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 3.8 months

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

  • Number of Contracts: 5
  • Average Days on Market for Active Listings: 118 days
  • Average Days on Market for Listings That Went Under Contract: 63 days
  • Inventory: 118 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 4.4 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!

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