The Long & Foster Market Minute

Focus On: Reston Housing Market August 2018

Zip Code(s): 20194, 20190 and 20191
Units Sold
133
Active Inventory
238
Median Sale Price
$445,500
Days On Market
27
Up 20%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -21%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 133 sold this month in Reston Real Estate versus 140 last month, a decrease of 5%. This month's total units sold was higher than at this time last year, an increase of 20% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 34 units or 13%. The total number of active inventory this August was 238 compared to 272 in August 2017. This month's total of 238 is higher than the previous month's total supply of available inventory of 232, an increase of 3%.

Median Sale Price
Last August, the median sale price for Reston Homes was $438,000. This August, the median sale price was $445,500, an increase of 2% or $7,500 compared to last year. The current median sold price is 2% higher than in July.

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


New Listings
143
Current Contracts
102
Sold Vs. List Price
99.2%
Months of Supply
1.8
Up 4%
Vs. Year Ago
Down -11%
Vs. Year Ago
No Change
Vs. Year Ago
Down -27%
Vs. Year Ago

Months of Supply
In August, there was 1.8 months of supply available in Reston, compared to 2.5 in August 2017. That is a decrease of 27% 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 143 homes newly listed for sale in Reston compared to 138 in August 2017, an increase of 4%. There were 102 current contracts pending sale this August compared to 115 a year ago. The number of current contracts is 11% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Reston was 99.2% 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 27, lower than the average last year, which was 34, 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.