A slight rise in inventory puts Oakton back into a Balanced Market this week. (A Balanced Market is defined as a market with a 4-6 month housing supply, whereby the market is in its natural, healthy state with no advantage seen to either Buyers or Sellers.)
Vienna, on the other hand, remains in a HOT Seller’s Market. Based on the past 30 days’ sales, Vienna has less than a 2 month housing supply! (Current housing supply is just 168 homes and in the past 30 days, 120 homes have gone under contract.) We are continuing to see multiple contracts and homes are selling quickly. In the past week, 42% of the homes that went under contract sold in two weeks or less!
Detailed statistics for Vienna & Oakton are below. Contact The Belt Team if you would like statistics on YOUR particular market!
Last week in Vienna Real Estate (22180,22181, 22182):
- Number of Contracts: 33
- Average Days on Market for Active Listings: 119 days
- Average Days on Market for Listings That Went Under Contract: 49 days
- Inventory: 168 homes on the market
- Number of Months Supply of Homes (Based on past 90 day contract rate): 2.0 months
- Number of Months Supply of Homes (Based on past 30 day contract rate): 1.4 months
Here are last week’s stats for Oakton Real Estate (22124):
- Number of Contracts: 8
- Average Days on Market for Active Listings: 76 days
- Average Days on Market for Listings That Went Under Contract: 60
- Inventory: 83 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): 4.0 months
If you’re thinking of buying or selling a home, Contact The Belt Team at (703) 242-3975 for a more in-depth discussion & analysis – because it’s only the neighborhood YOU live in (or you WANT to live in) that matters. We’ll be happy to schedule a consultation and get very detailed about “YOUR Market”? so that you can make the decision that is best for YOU!
Also, you can read more about:
- What Sellers Should Look For In A Realtor
- Today’s Top 3 Tech Tools To Market Your Home
- Why You Don’t Want To Miss Out on “The Belt Team Experience”?
You can also listen to How Buyers Should Choose The Right Realtor.
Email The Belt Team (or call us at 703-242-3975) to request a FREE WRITTEN REPORT of your home’s value or to be put on our FREE PRIORITY NOTIFICATION LIST for special buying opportunities that are not in the MLS or on the Internet. In a market like this, don’t you want to know about homes BEFORE they hit the market?