The Long & Foster Market Minute

Focus On: Reston Housing Market January 2024

Zip Code(s): 20194, 20190 and 20191
Units Sold
44
Active Inventory
44
Median Sale Price
$537,500
Days On Market
21
Down -21%
Vs. Year Ago
Down -28%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down -34%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 44 sold this month in Reston Real Estate versus 64 last month, a decrease of 31%. This month's total units sold was lower than at this time last year, a decrease of 21% versus January 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 17 units or 28%. The total number of active inventory this January was 44 compared to 61 in January 2023. This month's total of 44 is lower than the previous month's total supply of available inventory of 54, a decrease of 19%.

Median Sale Price
Last January, the median sale price for Reston Homes was $456,250. This January, the median sale price was $537,500, an increase of 18% or $81,250 compared to last year. The current median sold price is 10% lower than in December.

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


New Listings
65
Current Contracts
68
Sold Vs. List Price
99.8%
Months of Supply
1.0
Down -7%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 1%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In January, there was 1.0 months of supply available in Reston. The amount of supply is similar compared to 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 65 homes newly listed for sale in Reston compared to 70 in January 2023, a decrease of 7%. There were 68 current contracts pending sale this January compared to 73 a year ago. The number of current contracts is 7% lower than last January.

Sale Price to List Price Ratio
In January, the average sale price in Reston was 99.8% of the average list price, which is 1.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 21, lower than the average last year, which was 32, a decrease of 34%.

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.