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Blog Post: Which Way Did the Real Estate Pendulum Swing Last Week?

Wondering what’s happening in the real estate market in Vienna & Oakton? Here’s this week’s update.

Wondering what’s happening in the real estate market in Vienna & Oakton? Which way is the pendulum swinging this week? Toward a Buyer's Market? Or a Seller's Market? Here’s this week’s update.

  • Inventory rose slightly (5 percent) – up by eight units in Oakton and five units in Vienna
  • Average days on market for active listings declined in both areas – down to 91 days in Vienna and 88 days in Oakton.
  • Housing supply in both areas still shows a Seller’s Market. There is a two-month supply in Vienna and a 2.3 month supply in Oakton. (But remember, market supply also varies vastly within the same city, but in different price ranges.)
  • Twenty-five percent of the homes that went under contract in Oakton this week sold in two weeks or less. In Vienna, that figure was almost double – at 45 percent.

 

Last week in Vienna Real Estate (22180,22181, 22182):

  • Number of Contracts: 20
  • Average Days on Market for Active Listings: 91 days
  • Average Days on Market for Listings That Went Under Contract: 105 days
  • Inventory: 208 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 2.1 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 2.0 months

Last week in Oakton Real Estate (22124):

  • Number of Contracts: 8
  • Average Days on Market for Active Listings: 88 days
  • Average Days on Market for Listings That Went Under Contract: 51
  • Inventory: 83 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 2.7 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 2.3 months


For more from the Belt Team, click here.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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