The Long & Foster Market Minute
Focus On: Reston Housing Market July 2016
Zip Code(s): 20194, 20190 and 20191
Units Sold
137
Active Inventory
322
Median Sale Price
$398,500
Days On Market
33
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
No Change
Vs. Year Ago
Down -22%
Vs. Year Ago
Down -6%
Vs. Year Ago
Down -15%
Vs. Year Ago
Units Sold
There was an increase in total units sold in July, with 137 sold this month in Reston Real Estate, an increase of 12%. This month's total units sold is similar compared to a year ago.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 92 units or 22%. The total number of active inventory this July was 322 compared to 414 in July 2015. This month's total of 322 is lower than the previous month's total supply of available inventory of 353, a decrease of 9%.

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Median Sale Price
Last July, the median sale price for Reston Homes was $425,000. This July, the median sale price was $398,500, a decrease of 6% or $26,500 compared to last year. The current median sold price is 9% lower than in June.

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
144
Current Contracts
98
Sold Vs. List Price
98.0%
Months of Supply
2.4
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -23%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -0.5%
Vs. Year Ago
Down -22%
Vs. Year Ago
Months of Supply
In July, there was 2.4 months of supply available in Reston, compared to 3.0 in July 2015. That is a decrease of 22% 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 144 homes newly listed for sale in Reston compared to 186 in July 2015, a decrease of 23%. There were 98 current contracts pending sale this July compared to 96 a year ago. The number of current contracts is 2% higher than last July.

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Sale Price to List Price Ratio
In July, the average sale price in Reston was 98.0% of the average list price, which is 0.5% lower 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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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.