This Week In Vienna / Oakton Real Estate

Here’s what’s happening in the Vienna & Oakton real estate markets:

  • Inventory levels in Vienna dipped below 200 for the first time since mid-March. Inventory in Oakton also continued to drop. If you’re thinking of selling your home, NOW might be a great time to be on the market. You’ll beat the “Spring Rush” and have less competition!
  • Average days on market for homes that went under contract this week was only 20 days in Oakton and 98 days in Vienna.
  • The contract rate remained stable in Vienna – with 7 contracts this week. Oakton also saw 3 contracts – all on condos in the lower price ranges.
  • The activity we saw this week was almost entirely in the lower price ranges. Nine out of ten homes that went under contract were listed below $550,000.
  • Despite what you hear in the general news media, we are still in a balanced market (defined as 3-6 months housing supply), with a 4-5 month supply in both Vienna & Oakton.

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

  • Number of Contracts: 7
  • Average Days on Market for Active Listings: 138 days
  • Average Days on Market for Listings That Went Under Contract: 98 days
  • Inventory: 198 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 3.4 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 3.9 months

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

  • Number of Contracts: 3
  • Average Days on Market for Active Listings: 120 days
  • Average Days on Market for Listings That Went Under Contract: 20 days
  • Inventory: 79 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 4.0 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 5.0 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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