The Long & Foster Market Minute

Focus On: Reston Housing Market May 2018

Zip Code(s): 20194, 20190 and 20191
Units Sold
149
Active Inventory
263
Median Sale Price
$417,000
Days On Market
22
No Change
Vs. Year Ago
Down -9%
Vs. Year Ago
Down -9%
Vs. Year Ago
Down -21%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 149 sold this month in Reston Real Estate, an increase of 17%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is lower by 26 units or 9%. The total number of active inventory this May was 263 compared to 289 in May 2017. This month's total of 263 is higher than the previous month's total supply of available inventory of 233, an increase of 13%.

Median Sale Price
Last May, the median sale price for Reston Homes was $458,000. This May, the median sale price was $417,000, a decrease of 9% or $41,000 compared to last year. The current median sold price is 5% lower than in April.

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


New Listings
219
Current Contracts
149
Sold Vs. List Price
99.4%
Months of Supply
1.8
Up 5%
Vs. Year Ago
Down -4%
Vs. Year Ago
No Change
Vs. Year Ago
Down -9%
Vs. Year Ago

Months of Supply
In May, there was 1.8 months of supply available in Reston, compared to 1.9 in May 2017. That is a decrease of 9% 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 219 homes newly listed for sale in Reston compared to 209 in May 2017, an increase of 5%. There were 149 current contracts pending sale this May compared to 156 a year ago. The number of current contracts is 4% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Reston was 99.4% 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 22, lower than the average last year, which was 28, a decrease of 21%.

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 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.