The Long & Foster Market Minute

Focus On: Reston Town Center, Lake Anne, and Tall Oaks Housing Market September 2021

Zip Code(s): 20190
Units Sold
37
Active Inventory
83
Median Sale Price
$420,000
Days On Market
31
Down
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 4%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in September, with 37 sold this month in Reston Town Center, Lake Anne, and Tall Oaks Real Estate. This month's total units sold was lower than at this time last year, a decrease from September 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 2 units or 2%. The total number of active inventory this September was 83 compared to 81 in September 2020. This month's total of 83 is higher than the previous month's total supply of available inventory of 76, an increase of 9%.

Median Sale Price
Last September, the median sale price for Reston Town Center, Lake Anne, and Tall Oaks Homes was $405,500. This September, the median sale price was $420,000, an increase of 4% or $14,500 compared to last year. The current median sold price is 12% lower 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
64
Current Contracts
39
Sold Vs. List Price
99.2%
Months of Supply
2.2
Down -3%
Vs. Year Ago
Up 8%
Vs. Year Ago
No Change
Vs. Year Ago
Up 60%
Vs. Year Ago

Months of Supply
In September, there was 2.2 months of supply available in Reston Town Center, Lake Anne, and Tall Oaks, compared to 1.4 in September 2020. That is an increase of 61% 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 64 homes newly listed for sale in Reston Town Center, Lake Anne, and Tall Oaks compared to 66 in September 2020, a decrease of 3%. There were 39 current contracts pending sale this September compared to 36 a year ago. The number of current contracts is 8% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Reston Town Center, Lake Anne, and Tall Oaks 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 31, which is similar compared to a year ago.

The Long & Foster Market Minute Reston Town Center, Lake Anne, and Tall Oaks are defined as properties listed in zip code/s 20190.
*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.