The Long & Foster Market Minute

Focus On: Reston Housing Market September 2020

Zip Code(s): 20194, 20190 and 20191
Units Sold
150
Active Inventory
140
Median Sale Price
$452,500
Days On Market
20
Up
Vs. Year Ago
Down -21%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -26%
Vs. Year Ago

Units Sold
There was an increase in total units sold in September, with 150 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 38 units or 21%. The total number of active inventory this September was 140 compared to 178 in September 2019. This month's total of 140 is higher than the previous month's total supply of available inventory of 118, an increase of 19%.

Median Sale Price
Last September, the median sale price for Reston Homes was $425,000. This September, the median sale price was $452,500, an increase of 6% or $27,500 compared to last year. The current median sold price is 9% lower than in August.

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


New Listings
181
Current Contracts
134
Sold Vs. List Price
100.4%
Months of Supply
0.9
Up 41%
Vs. Year Ago
Up 23%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Down -43%
Vs. Year Ago

Months of Supply
In September, there was 0.9 months of supply available in Reston, compared to 1.6 in September 2019. That is a decrease of 43% 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 181 homes newly listed for sale in Reston compared to 128 in September 2019, an increase of 41%. There were 134 current contracts pending sale this September compared to 109 a year ago. The number of current contracts is 23% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Reston was 100.4% of the average list price, which is 1.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 20, lower than the average last year, which was 27, a decrease of 26%.

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.