RESTON HOUSING MARKET DATA

There was a decrease in total units sold in August, with 87 sold this month in Reston Real Estate versus 102 last month, a decrease of 15%. This month's total units sold was higher than at this time last year, an increase of 5% versus August 2023.

Versus last year, the total number of homes available this month is higher by 30 units or 50%. The total number of active inventory this August was 90 compared to 60 in August 2023. This month's total of 90 is higher than the previous month's total supply of available inventory of 80, an increase of 13%.

Last August, the median sale price for Reston Homes was $550,000. This August, the median sale price was $540,000, a decrease of 2% or $10,000 compared to last year. The current median sold price is 2% lower 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.

In August, there was 1.0 months of supply available in Reston, compared to 0.7 in August 2023. That is an increase of 43% 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.

This month there were 84 homes newly listed for sale in Reston compared to 86 in August 2023, a decrease of 2%. There were 64 current contracts pending sale this August compared to 80 a year ago. The number of current contracts is 20% lower than last August.

In August, the average sale price in Reston was 101.4% of the average list price, which is 0.9% lower than at this time last year.

This month, the average number of days on market was 13, higher than the average last year, which was 10, an increase of 30%.





FOCUS ON: RESTON HOUSING MARKET			AUGUST 2024

Zip Code(s): 20194, 20190 and 20191
Units Sold 87	Active Inventory 90	Median Sale Price $540,000	Days On Market 13

Up 5% Vs. Year Ago	Up 50% Vs. Year Ago	Down -2% Vs. Year Ago	Up 30% Vs. Year Ago


		Units Sold There was a decrease in total units sold in August, with 87 sold this month in Reston Real Estate versus 102 last month, a decrease of 15%. This month's total units sold was higher than at this time last year, an increase of 5% versus August 2023.
Active Inventory Versus last year, the total number of homes available this month is higher by 30 units or 50%. The total number of active inventory this August was 90 compared to 60 in August 2023. This month's total of 90 is higher than the previous month's total supply of available inventory of 80, an increase of 13%.
		Median Sale Price Last August, the median sale price for Reston Homes was $550,000. This August, the median sale price was $540,000, a decrease of 2% or $10,000 compared to last year. The current median sold price is 2% lower 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 84	Current Contracts 64	Sold Vs. List Price 101.4%	Months of Supply 1.0

Down -2% Vs. Year Ago	Down -20% Vs. Year Ago	Down -0.9% Vs. Year Ago	Up 43% Vs. Year Ago


		Months of Supply In August, there was 1.0 months of supply available in Reston, compared to 0.7 in August 2023. That is an increase of 43% 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 84 homes newly listed for sale in Reston compared to 86 in August 2023, a decrease of 2%. There were 64 current contracts pending sale this August compared to 80 a year ago. The number of current contracts is 20% lower than last August.
		Sale Price to List Price Ratio In August, the average sale price in Reston was 101.4% of the average list price, which is 0.9% lower than at this time last year. Days on Market This month, the average number of days on market was 13, higher than the average last year, which was 10, an increase of 30%.


	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.
	Information 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.