Oakton Real Estate Market Teeters Between Balanced & Seller's Market

Just like the temperatures in August – the Vienna and Oakton real estate markets are “Hot Hot Hot”! But Vienna's is a lot hotter. 

Here are the highlights for Vienna & Oakton Real Estate over the past week:

• Vienna remains in a Seller’s Market – with 1.2 months of housing supply.

• Oakton is teetering between a Balanced Market and a Seller’s Market - with 2.7 months of supply.

• Sales in Oakton were higher this past week than the week before (9 homes sold versus 6), but still not in the double-digit range we saw during most of March - June.

• Sales in Vienna dropped to 16, the least number in a week since the week that included July 4th.

• Vienna’s pace continues to quicken – with the fastest week this year (except for 2 weeks in April) in terms of the percentage of homes selling in the first or second week. 63% of the homes that went under contract, did so in a week or less. And 75% sold in two weeks or less. WOW!

• Oakton’s pace is no where close to Vienna’s – with 22% last week going under contract in a week or less, and 44% in two weeks or less.

Detailed Market Statistics:

Vienna Real Estate (22180,22181, 22182):

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• Number of Contracts: 16 (down from 23 the prior week)
• Average Days on Market for Active Listings: 90 days
• Average Days on Market for Listings That Went Under Contract: 27 days
• Inventory: 129 homes on the market (down from 135 the prior week)
• Number of Months Supply of Homes (Based on past 90 day contract rate): 1.5 months
• Number of Months Supply of Homes (Based on past 30 day contract rate): 1.2 months

What Is My Vienna Home Worth?

Oakton Real Estate (22124):

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• Number of Contracts: ( (up from 6 the prior week)
• Average Days on Market for Active Listings: 115 days
• Average Days on Market for Listings That Went Under Contract: 30 days
• Inventory: 78 homes on the market (down from 85 the prior week)
• Number of Months Supply of Homes (Based on past 90 day contract rate): 2.0 months
• Number of Months Supply of Homes (Based on past 30 day contract rate): 2.7 months

What Is My Oakton Home Worth?

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