Here is your monthly real estate market update in Reston, VA! Check back each month for new updates.
Units Sold: There was a decrease in total units sold in September, with 67 sold this month in Reston Real Estate versus 83 last month, a decrease of 19%. This month’s total units sold was lower than at this time last year, a decrease of 33% versus September 2022.
Active Inventory: Versus last year, the total number of homes available this month is lower by 36 units or 34%. The total number of active inventory this September was 71 compared to 107 in September 2022. This month’s total of 71 is higher than the previous month’s total supply of available inventory of 58, an increase of 22%.
Median Sale Price: Last September, the median sale price for Reston Homes was $474,950. This September, the median sale price was $505,000, an increase of 6% or $30,050 compared to last year. The current median sold price is 8% 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.
Months of Supply: In September, there was 1.1 months of supply available in Reston. 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 98 homes newly listed for sale in Reston compared to 123 in September 2022, a decrease of 20%. There were 75 current contracts pending sale this September compared to 92 a year ago. The number of current contracts is 18% lower than last September.
Sale Price to List Price Ratio: In September, the average sale price in Reston was 101.2% of the average list price, which is 0.6% higher than at this time last year.
Days on Market: This month, the average number of days on market was 11, lower than the average last year, which was 19, a decrease of 42%. If you have further questions about the Reston real estate market, be sure to contact me [email protected]