Oakton Mid-Year Housing Update - Prices Up Over Last Year

With the 4th of July holiday just past, it’s time to take a look back and see how the Oakton real estate market has fared. Instead of updating you on what has happened in the past week like we usually do, let’s pause and take a look back to the year 2000 and see where Oakton stands in terms of number of home sales, average selling price and average days on market.

The full charts on our Northern VA real estate blog show a year-over-year comparison for January through June for each year from 2000 through 2013. What do we see?

• Average days on market for homes sold in Oakton for the first half of 2013 was 45 days. This is the fastest market we have experienced since 2005 when average days on market was just 25 days.

• Total number of sales in the first half of 2013 was 188 homes. Despite low inventory, this is the most homes sold in Oakton in the first half of the year since 2004. (Note to Sellers – It’s a GREAT time to sell. Low inventory puts YOU in the driver’s seat!).

• Average Sales price in Oakton is up 11.3% over last year. Unlike Vienna, where average sales price has risen for 4 straight years, Oakton’s average sales price has fluctuated over the past few years – falling twice & rising twice.

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(Next Wednesday, we’ll be back to our usual weekly Oakton update. In the meantime, contact The Belt Team for more information. We know it’s only the neighborhood that YOU live in (or WANT to live in!) that matters!

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