Oakton Real Estate Moves To Balanced Market

Wondering what’s been happening in the Oakton & Vienna real estate markets over the past week?

Well . . .

• Oakton inventory is at its lowest point since August. There are currently 78 homes for sale in Oakton.
• But with slowed home sales over the past 30 days, housing supply in Oakton is at a high for 2013 – with 5.2 months supply. (So we’re in a Balanced Market in Oakton also.)
• Vienna inventory dropped 4% from last week. There are currently 141 homes on the market.
• Only 7 homes sold in Vienna. But they sold quickly. Five of the seven sold in 2 weeks or less.
• Vienna has about a 3 month supply of housing. (That means we’re heading back to a Balanced Market.)

BUYERS – You still have time to find that dream home and move in in time for the holidays! Don’t miss the opportunity to toast to the new year in your new home! One thing you can do to make this happen is to make sure you are using a web site to search homes that is updated hourly (as opposed to daily or even several times a day). Not doing so may mean you miss out on that PERFECT property you have been waiting for. (The Belt Team just launched a brand new, FREE, state-of-the-art Northern Virginia real estate search site and we’re getting great feedback from our buyers. You might want to test it out!)

SELLERS – Based on the traffic we are seeing at open houses, the buyer traffic on our web site and how quickly our listings are selling – we believe there is a ton of pent up demand. Buyers are also fearful that rising interest rates may price them out of the market next year. Our advice is to position yourself to sell earlier rather than later when there is more competition and less buyers. (Call 703-242-3975 for info about our offer for a FREE consultation with our professional stager and be ready to hit the market in January!)

Here are this week’s stats:

Vienna Real Estate (22180,22181, 22182):

Search Homes For Sale in Vienna

• Number of Contracts: 7
• Average Days on Market for Active Listings: 114 days
• Average Days on Market for Listings That Went Under Contract: 11 days
• Inventory: 145 homes on the market
• Number of Months Supply of Homes (Based on past 90 day contract rate): 2.2 months
• Number of Months Supply of Homes (Based on past 30 day contract rate): 2.9 months

Oakton Real Estate (22124):

Search Homes For Sale in Oakton

• Number of Contracts: 8
• Average Days on Market for Active Listings: 99 days
• Average Days on Market for Listings That Went Under Contract: 76 days
• Inventory: 78 homes on the market
• Number of Months Supply of Homes (Based on past 90 day contract rate): 6.7 months
• Number of Months Supply of Homes (Based on past 30 day contract rate): 5.2 months

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