The Long & Foster Market Minute
Focus On: Reston Housing Market October 2016
Zip Code(s): 20194, 20190 and 20191
Units Sold
93
Active Inventory
279
Median Sale Price
$350,000
Days On Market
39
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -4%
Vs. Year Ago
Down -32%
Vs. Year Ago
Down -15%
Vs. Year Ago
Down -11%
Vs. Year Ago
Units Sold
There was an increase in total units sold in October, with 93 sold this month in Reston Real Estate versus 88 last month, an increase of 6%. This month's total units sold was lower than at this time last year, a decrease of 4% versus October 2015.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 132 units or 32%. The total number of active inventory this October was 279 compared to 411 in October 2015. This month's total of 279 is lower than the previous month's total supply of available inventory of 320, a decrease of 13%.

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Median Sale Price
Last October, the median sale price for Reston Homes was $412,000. This October, the median sale price was $350,000, a decrease of 15% or $62,000 compared to last year. The current median sold price is 19% 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
110
Current Contracts
94
Sold Vs. List Price
98.0%
Months of Supply
3.0
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -27%
Vs. Year Ago
Up 7%
Vs. Year Ago
No Change
Vs. Year Ago
Down -29%
Vs. Year Ago
Months of Supply
In October, there was 3.0 months of supply available in Reston, compared to 4.2 in October 2015. That is a decrease of 29% 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 110 homes newly listed for sale in Reston compared to 151 in October 2015, a decrease of 27%. There were 94 current contracts pending sale this October compared to 88 a year ago. The number of current contracts is 7% higher than last October.

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Sale Price to List Price Ratio
In October, the average sale price in Reston was 98.0% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 39, lower than the average last year, which was 44, a decrease of 11%.

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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.