The Long & Foster Market Minute

Focus On: Vienna, Oakton, and Tyson's Corner Housing Market March 2018

Zip Code(s): 22182, 22185, 22181, 22180, 22027 and 22124
Units Sold
111
Active Inventory
250
Median Sale Price
$759,500
Days On Market
37
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -7%
Vs. Year Ago
Down -28%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -18%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 111 sold this month in Vienna, Oakton, and Tyson's Corner Real Estate. This month's total units sold was lower than at this time last year.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 99 units or 28%. The total number of active inventory this March was 250 compared to 349 in March 2017. This month's total of 250 is higher than the previous month's total supply of available inventory of 198, an increase of 26%.

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Median Sale Price
Last March, the median sale price for Vienna, Oakton, and Tyson's Corner Homes was $732,500. This March, the median sale price was $759,500, an increase of 4% or $27,000 compared to last year. The current median sold price is 7% higher than in February.

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

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New Listings
200
Current Contracts
117
Sold Vs. List Price
98.5%
Months of Supply
2.3
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -18%
Vs. Year Ago
Down -25%
Vs. Year Ago
No Change
Vs. Year Ago
Down -23%
Vs. Year Ago

Months of Supply
In March, there was 2.3 months of supply available in Vienna, Oakton, and Tyson's Corner, compared to 2.9 in March 2017. That is a decrease of 23% 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.

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New Listings & Current Contracts
This month there were 200 homes newly listed for sale in Vienna, Oakton, and Tyson's Corner compared to 245 in March 2017, a decrease of 18%. There were 117 current contracts pending sale this March compared to 156 a year ago. The number of current contracts is 25% lower than last March.

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Sale Price to List Price Ratio
In March, the average sale price in Vienna, Oakton, and Tyson's Corner was 98.5% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 37, lower than the average last year, which was 45, a decrease of 18%.

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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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.