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

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

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