VIENNA, OAKTON, AND TYSON'S CORNER HOUSING MARKET DATA

There was a decrease in total units sold in August, with 81 sold this month in Vienna, Oakton, and Tyson's Corner Real Estate versus 107 last month, a decrease of 24%. This month's total units sold was lower than at this time last year, a decrease of 16% versus August 2023.

Versus last year, the total number of homes available this month is lower by 28 units or 20%. The total number of active inventory this August was 114 compared to 142 in August 2023. This month's total of 114 is lower than the previous month's total supply of available inventory of 136, a decrease of 16%.

Last August, the median sale price for Vienna, Oakton, and Tyson's Corner Homes was $1,000,000. This August, the median sale price was $1,100,000, an increase of 10% or $100,000 compared to last year. The current median sold price is 2% higher 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.

In August, there was 1.4 months of supply available in Vienna, Oakton, and Tyson's Corner. 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.

This month there were 79 homes newly listed for sale in Vienna, Oakton, and Tyson's Corner compared to 103 in August 2023, a decrease of 23%. There were 82 current contracts pending sale this August compared to 65 a year ago. The number of current contracts is 26% higher than last August.

In August, the average sale price in Vienna, Oakton, and Tyson's Corner was 99.7% of the average list price, which is 0.9% lower than at this time last year.

This month, the average number of days on market was 31, higher than the average last year, which was 15, an increase of 107%.





FOCUS ON: VIENNA, OAKTON, AND TYSON'S CORNER HOUSING MARKET			AUGUST 2024

Zip Code(s): 22182, 22185, 22181, 22180, 22027 and 22124
Units Sold 81	Active Inventory 114	Median Sale Price $1,100,000	Days On Market 31

Down -16% Vs. Year Ago	Down -20% Vs. Year Ago	Up 10% Vs. Year Ago	Up 107% Vs. Year Ago


		Units Sold There was a decrease in total units sold in August, with 81 sold this month in Vienna, Oakton, and Tyson's Corner Real Estate versus 107 last month, a decrease of 24%. This month's total units sold was lower than at this time last year, a decrease of 16% versus August 2023.
Active Inventory Versus last year, the total number of homes available this month is lower by 28 units or 20%. The total number of active inventory this August was 114 compared to 142 in August 2023. This month's total of 114 is lower than the previous month's total supply of available inventory of 136, a decrease of 16%.
		Median Sale Price Last August, the median sale price for Vienna, Oakton, and Tyson's Corner Homes was $1,000,000. This August, the median sale price was $1,100,000, an increase of 10% or $100,000 compared to last year. The current median sold price is 2% higher 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 79	Current Contracts 82	Sold Vs. List Price 99.7%	Months of Supply 1.4

Down -23% Vs. Year Ago	Up 26% Vs. Year Ago	Down -0.9% Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In August, there was 1.4 months of supply available in Vienna, Oakton, and Tyson's Corner. 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 79 homes newly listed for sale in Vienna, Oakton, and Tyson's Corner compared to 103 in August 2023, a decrease of 23%. There were 82 current contracts pending sale this August compared to 65 a year ago. The number of current contracts is 26% higher than last August.
		Sale Price to List Price Ratio In August, the average sale price in Vienna, Oakton, and Tyson's Corner was 99.7% of the average list price, which is 0.9% lower than at this time last year. Days on Market This month, the average number of days on market was 31, higher than the average last year, which was 15, an increase of 107%.


	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.
	Information 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.