This week finds a similar story to last week. Inventory in Vienna dropped yet again, while inventory in Oakton rose another 9%. And while sales in Vienna remained strong, nothing went under contract in Oakton.
The net result, when the trend is analyzed over a 30 day and 90 day period – is that Vienna is now officially in a Sellers Market, while Oakton remains in a Balanced Market.
This means NOW is a great time to sell – while competition is low! The Belt Team has a track record of selling our listings in Vienna 35 days faster than average and for 4.27% more than average. Contact us to set up an appointment.
This is one (among many) reasons why you need a Realtor to represent you. Inventory is low, so you may end up in a competitive situation. A Realtor will help you craft a winning offer in a situation like this. It’s not always price that wins the home. Many other factors (like terms, rent backs, concessions, contingencies) come into play. You also want a Realtor who specializes in your area and who is creative. We have sold several homes recently to Buyers we represented where the homes never came on the market. Through our networking and our connections, we found a match for our Buyers. If you would like The Belt Team to represent you, contact us here.
Here are last week’s stats for Vienna Real Estate (22180,22181, 22182):
- Number of Contracts: 14
- Average Days on Market for Active Listings: 154 days
- Average Days on Market for Listings That Went Under Contract: 61 days
- Inventory: 151 homes on the market
- Number of Months Supply of Homes (Based on past 90 day contract rate): 2.9 months
- Number of Months Supply of Homes (Based on past 30 day contract rate): 2.2 months
Here are last weeks stats for Oakton Real Estate (22124):
- Number of Contracts: 0
- Average Days on Market for Active Listings: 117 days
- Average Days on Market for Listings That Went Under Contract: n/a
- Inventory: 73 homes on the market
- Number of Months Supply of Homes (Based on past 90 day contract rate): 5.0 months
- Number of Months Supply of Homes (Based on past 30 day contract rate): 4.1 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!