The Long & Foster Market Minute

Focus On: Vienna, Oakton, and Tyson's Corner Housing Market January 2024

Zip Code(s): 22182, 22185, 22181, 22180, 22027 and 22124
Units Sold
47
Active Inventory
78
Median Sale Price
$1,070,000
Days On Market
29
Up 24%
Vs. Year Ago
Down -21%
Vs. Year Ago
Up 34%
Vs. Year Ago
Down -12%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 47 sold this month in Vienna, Oakton, and Tyson's Corner Real Estate versus 48 last month, a decrease of 2%. This month's total units sold was higher than at this time last year, an increase of 24% versus January 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 21 units or 21%. The total number of active inventory this January was 78 compared to 99 in January 2023. This month's total of 78 is lower than the previous month's total supply of available inventory of 85, a decrease of 8%.

Median Sale Price
Last January, the median sale price for Vienna, Oakton, and Tyson's Corner Homes was $800,000. This January, the median sale price was $1,070,000, an increase of $270,000 compared to last year. The current median sold price is higher 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
64
Current Contracts
64
Sold Vs. List Price
100.5%
Months of Supply
1.7
Down -24%
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 1.4%
Vs. Year Ago
Down -36%
Vs. Year Ago

Months of Supply
In January, there was 1.7 months of supply available in Vienna, Oakton, and Tyson's Corner, compared to 2.6 in January 2023. That is a decrease of 36% 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 Vienna, Oakton, and Tyson's Corner compared to 84 in January 2023, a decrease of 24%. There were 64 current contracts pending sale this January compared to 61 a year ago. The number of current contracts is 5% higher than last January.

Sale Price to List Price Ratio
In January, the average sale price in Vienna, Oakton, and Tyson's Corner was 100.5% of the average list price, which is 1.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 29, lower than the average last year, which was 33, a decrease of 12%.

The Long & Foster Market Minute Vienna, Oakton, and Tyson's Corner are defined as properties listed in zip code/s 22182, 22185, 22181, 22180, 22027 and 22124.
*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.