The Long & Foster Market Minute

Focus On: Vienna, Oakton, and Tyson's Corner Housing Market February 2019

Zip Code(s): 22182, 22185, 22181, 22180, 22027 and 22124
Units Sold
59
Active Inventory
193
Median Sale Price
$743,000
Days On Market
69
Up 34%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 77%
Vs. Year Ago

Units Sold
The number of units sold remained stable in February, with 59 sold this month in Vienna, Oakton, and Tyson's Corner Real Estate. This month's total units sold was higher than at this time last year, an increase of 6% versus February 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 4 units or 2%. The total number of active inventory this February was 193 compared to 189 in February 2018. This month's total of 193 is higher than the previous month's total supply of available inventory of 178, an increase of 8%.

Median Sale Price
Last February, the median sale price for Vienna, Oakton, and Tyson's Corner Homes was $708,000. This February, the median sale price was $743,000, an increase of 5% or $35,000 compared to last year. The current median sold price is 2% higher than in January.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
142
Current Contracts
85
Sold Vs. List Price
98.7%
Months of Supply
3.3
Up 6%
Vs. Year Ago
Down -16%
Vs. Year Ago
Down -0.9%
Vs. Year Ago
Down -24%
Vs. Year Ago

Months of Supply
In February, there was 3.3 months of supply available in Vienna, Oakton, and Tyson's Corner, compared to 4.3 in February 2018. That is a decrease of 24% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 142 homes newly listed for sale in Vienna, Oakton, and Tyson's Corner compared to 134 in February 2018, an increase of 6%. There were 85 current contracts pending sale this February compared to 101 a year ago. The number of current contracts is 16% lower than last February.

Sale Price to List Price Ratio
In February, the average sale price in Vienna, Oakton, and Tyson's Corner was 98.7% of the average list price, which is 0.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 69, higher than the average last year, which was 39, an increase of 77%.

The Long & Foster Market Minute Vienna, Oakton, and Tyson's Corner are defined as properties listed in zip code/s 22182, 22185, 22181, 22180, 22027 and 22124.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.