The Long & Foster Market Minute

Focus On: Reston Housing Market October 2022

Zip Code(s): 20194, 20190 and 20191
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Down -21%
Vs. Year Ago
Up 15%
Vs. Year Ago
Down -4%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 77 sold this month in Reston Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 27 units or 21%. The total number of active inventory this October was 104 compared to 131 in October 2021. This month's total of 104 is lower than the previous month's total supply of available inventory of 107, a decrease of 3%.

Median Sale Price
Last October, the median sale price for Reston Homes was $480,000. This October, the median sale price was $551,500, an increase of 15% or $71,500 compared to last year. The current median sold price is 16% higher than in September.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -39%
Vs. Year Ago
Down -40%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Up 25%
Vs. Year Ago

Months of Supply
In October, there was 1.4 months of supply available in Reston, compared to 1.1 in October 2021. That is an increase of 25% 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 94 homes newly listed for sale in Reston compared to 155 in October 2021, a decrease of 39%. There were 83 current contracts pending sale this October compared to 138 a year ago. The number of current contracts is 40% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Reston was 100.2% of the average list price, which is 0.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 27, lower than the average last year, which was 28, a decrease of 4%.

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.