The Long & Foster Market Minute

Focus On: Reston Housing Market October 2017

Zip Code(s): 20194, 20190 and 20191
Units Sold
98
Active Inventory
266
Median Sale Price
$380,000
Days On Market
33
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 5%
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -15%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 98 sold this month in Reston Real Estate versus 103 last month, a decrease of 5%. This month's total units sold was higher than at this time last year, an increase of 5% versus October 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 28 units or 10%. The total number of active inventory this October was 266 compared to 294 in October 2016. This month's total of 266 is lower than the previous month's total supply of available inventory of 304, a decrease of 13%.

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Median Sale Price
Last October, the median sale price for Reston Homes was $350,000. This October, the median sale price was $380,000, an increase of 9% or $30,000 compared to last year. The current median sold price is 3% 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.

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New Listings
106
Current Contracts
88
Sold Vs. List Price
98.9%
Months of Supply
2.7
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -5%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 0.9%
Vs. Year Ago
Down -14%
Vs. Year Ago

Months of Supply
In October, there was 2.7 months of supply available in Reston, compared to 3.2 in October 2016. That is a decrease of 14% 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 106 homes newly listed for sale in Reston compared to 111 in October 2016, a decrease of 5%. There were 88 current contracts pending sale this October compared to 93 a year ago. The number of current contracts is 5% lower than last October.

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Sale Price to List Price Ratio
In October, the average sale price in Reston was 98.9% of the average list price, which is 0.9% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 33, lower than the average last year, which was 39, a decrease of 15%.

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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.