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 is down slightly over last week (3%), while inventory in Oakton remains exactly the same as a week ago.
  • Average days on market are stable – with 111 days in Vienna and 101 days in Oakton.
  • The contract rate in Oakton was identical to last week (7 contracts), while Vienna’s contract rate picked up and went from 10 contracts each of the two prior weeks to 18 contracts this past week.
  • In Vienna, of the 18 homes that went under contract, only 3 were listed above $699,000. In Oakton, 3 of 7 homes that went under contract were listed above $699,000.
  • In terms of market supply, we are still in a balanced market (defined as 3-6 months housing supply), but Oakton is nearing the 6 month mark for the first time in 2010.

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

  • Number of Contracts: 18
  • Average Days on Market for Active Listings: 111 days
  • Average Days on Market for Listings That Went Under Contract: 59 days
  • Inventory: 255 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 3.8 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 4.3 months

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

  • Number of Contracts: 7
  • Average Days on Market for Active Listings: 103 days
  • Average Days on Market for Listings That Went Under Contract: 51 days
  • Inventory: 101 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 5.5 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 4.2 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!

Open House in Vienna, VA – October 3rd

It’s the weekend! And that means it’s time for our Open House Theme Song of the Week.

Thirty plus years ago, a young Scottish girl named Annie Lennox joined a British pop band. The band evolved, changed their name to The Tourists and recorded a song called “So Good To Be Back Home“. We think that’s how you might feel when you walk into the home we have listed on Macy Avenue in Vienna. It’s truly warm & welcoming. So . . . gather up your loved ones and come visit us on Sunday (details below). But first, here are The Tourists with “So Good To Be Back Home“:

Open Sunday, October 3rd from 1PM to 4PM – 9505 Macy Avenue in Vienna – $1,049,000

This elegant brick front colonial is sited on a large cul-de-sac lot. You’ll especially enjoy the addition to the home that includes a delightful sunroom & 2nd casual eating area. There’s plenty of room for the family to gather, as well for for easy entertaining – with rec rooms on both the main and lower levels. The kitchen was updated in 2010 with granite countertops & stainless appliances. Plus there’s a spacious master suite with sitting room, 4 additional bedrooms. 3.5 baths, soaring ceilings, gleaming hardwoods & more. Madison HS pyramid!

Directions to Macy Avenue: From Tysons: Route 123 South, Right Beulah Rd, Left Abbotsford Dr, Right Percussion Way, Left Labrador Lane, Left Macy Avenue to #9505

More Info about 9505 Macy Avenue

Read about “Life In Vienna, VA

Contact The Belt Team