The Long & Foster Market Minute

Focus On: Reston Housing Market August 2022

Zip Code(s): 20194, 20190 and 20191
Units Sold
114
Active Inventory
91
Median Sale Price
$505,000
Days On Market
16
Down -17%
Vs. Year Ago
Down -39%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -30%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 114 sold this month in Reston Real Estate versus 85 last month, an increase of 34%. This month's total units sold was lower than at this time last year, a decrease of 17% versus August 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 57 units or 39%. The total number of active inventory this August was 91 compared to 148 in August 2021. This month's total of 91 is lower than the previous month's total supply of available inventory of 122, a decrease of 25%.

Median Sale Price
Last August, the median sale price for Reston Homes was $510,000. This August, the median sale price was $505,000, a decrease of 1% or $5,000 compared to last year. The current median sold price is 9% 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
92
Current Contracts
94
Sold Vs. List Price
99.9%
Months of Supply
0.8
Down -35%
Vs. Year Ago
Down -21%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Down -26%
Vs. Year Ago

Months of Supply
In August, there was 0.8 months of supply available in Reston, compared to 1.1 in August 2021. That is a decrease of 26% 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 92 homes newly listed for sale in Reston compared to 142 in August 2021, a decrease of 35%. There were 94 current contracts pending sale this August compared to 119 a year ago. The number of current contracts is 21% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Reston was 99.9% of the average list price, which is 0.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 16, lower than the average last year, which was 23, a decrease of 30%.

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.