The Long & Foster Market Minute

Focus On: Reston Housing Market May 2020

Zip Code(s): 20194, 20190 and 20191
Units Sold
108
Active Inventory
139
Median Sale Price
$441,000
Days On Market
13
Down -15%
Vs. Year Ago
Down -43%
Vs. Year Ago
No Change
Vs. Year Ago
Down -38%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 108 sold this month in Reston Real Estate versus 110 last month, a decrease of 2%. This month's total units sold was lower than at this time last year, a decrease of 15% versus May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 106 units or 43%. The total number of active inventory this May was 139 compared to 245 in May 2019. This month's total of 139 is lower than the previous month's total supply of available inventory of 154, a decrease of 10%.

Median Sale Price
Last May, the median sale price for Reston Homes was $441,000. This May, the median sale price was $441,000, which is similar compared to a year ago. The current median sold price is 2% higher 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
139
Current Contracts
115
Sold Vs. List Price
99.7%
Months of Supply
1.3
Down -38%
Vs. Year Ago
Down -27%
Vs. Year Ago
No Change
Vs. Year Ago
Down -33%
Vs. Year Ago

Months of Supply
In May, there was 1.3 months of supply available in Reston, compared to 1.9 in May 2019. That is a decrease of 33% 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 139 homes newly listed for sale in Reston compared to 223 in May 2019, a decrease of 38%. There were 115 current contracts pending sale this May compared to 158 a year ago. The number of current contracts is 27% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Reston was 99.7% 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 13, lower than the average last year, which was 21, a decrease of 38%.

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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.