The Long & Foster Market Minute

Focus On: Reston Housing Market October 2018

Zip Code(s): 20194, 20190 and 20191
Units Sold
112
Active Inventory
200
Median Sale Price
$400,000
Days On Market
55
Up 12%
Vs. Year Ago
Down -22%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -11%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 112 sold this month in Reston Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 57 units or 22%. The total number of active inventory this October was 200 compared to 257 in October 2017. This month's total of 200 is lower than the previous month's total supply of available inventory of 240, a decrease of 17%.

Median Sale Price
Last October, the median sale price for Reston Homes was $380,000. This October, the median sale price was $400,000, an increase of 5% or $20,000 compared to last year. The current median sold price is 13% lower than in September.

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


New Listings
114
Current Contracts
105
Sold Vs. List Price
98.9%
Months of Supply
1.8
Up 8%
Vs. Year Ago
Up 25%
Vs. Year Ago
No Change
Vs. Year Ago
Down -30%
Vs. Year Ago

Months of Supply
In October, there was 1.8 months of supply available in Reston, compared to 2.6 in October 2017. That is a decrease of 31% 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 114 homes newly listed for sale in Reston compared to 106 in October 2017, an increase of 8%. There were 105 current contracts pending sale this October compared to 84 a year ago. The number of current contracts is 25% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Reston was 98.9% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 55, lower than the average last year, which was 62, a decrease of 11%.

The Long & Foster Market Minute Reston are defined as properties listed in zip code/s 20194, 20190 and 20191.
*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.