The Long & Foster Market Minute

Focus On: Reston Housing Market September 2019

Zip Code(s): 20194, 20190 and 20191
Units Sold
103
Active Inventory
165
Median Sale Price
$422,000
Days On Market
27
Up
Vs. Year Ago
Down -30%
Vs. Year Ago
Down -8%
Vs. Year Ago
Down -16%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 103 sold this month in Reston Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 70 units or 30%. The total number of active inventory this September was 165 compared to 235 in September 2018. This month's total of 165 is lower than the previous month's total supply of available inventory of 211, a decrease of 22%.

Median Sale Price
Last September, the median sale price for Reston Homes was $460,000. This September, the median sale price was $422,000, a decrease of 8% or $38,000 compared to last year. The current median sold price is 1% higher than in August.

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


New Listings
126
Current Contracts
109
Sold Vs. List Price
99.2%
Months of Supply
1.6
Down -11%
Vs. Year Ago
Up 16%
Vs. Year Ago
No Change
Vs. Year Ago
Down -49%
Vs. Year Ago

Months of Supply
In September, there was 1.6 months of supply available in Reston, compared to 3.1 in September 2018. That is a decrease of 49% 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 126 homes newly listed for sale in Reston compared to 142 in September 2018, a decrease of 11%. There were 109 current contracts pending sale this September compared to 94 a year ago. The number of current contracts is 16% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Reston was 99.2% 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 27, lower than the average last year, which was 32, a decrease of 16%.

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.