Blog Post: Can We Really Be in Both a Buyer's and Seller's Market?

Vienna and Oakton’s housing markets are still cruising along. With less than a three month supply of homes in Oakton and less than a two month supply in Vienna, you guessed it: we remain in a seller’s market in both areas.

But let’s break things down a little more and check out what’s happening in different price ranges. Because the reality is while the overall statistics might say seller’s market, that may not be the case in every price range. (Statistics below are based on today’s housing inventory and the past 30 days sales.)

OAKTON:

• Up to $799,999: 45 homes currently listed, 1.9 month housing supply (Seller’s Market)
• $800,000 – $1,099,999: 9 homes currently listed, 1.1 month housing supply (Seller’s Market)
• $1,100,000 – $1,249,999: 7 homes currently listed, no sales in past 30 days
• $1,250,000 – $1,500,000: 10 homes currently listed, 5 month housing supply (Balanced Market)
• Above $1,500,000: 9 homes currently listed, 9 month housing supply  (Buyer’s Market)

VIENNA:

• Up to $799,999: 70  homes currently listed, less than 1 month housing supply (Seller’s Market)
• $800,000 – $1,099,999: 38 homes currently listed, 2.1 month housing supply (Seller’s Market)
• $1,100,000 – $1,249,999: 23  homes currently listed, 3.3 month housing supply (Balanced Market)
• $1,250,000 – $1,500,000: 36 homes currently listed, 9 month housing supply (Buyer’s Market)
• Above $1,500,000: 20 homes currently listed, 6.7 month housing supply  (Buyer’s Market – close to a Balanced Market)

So, the answer to the question of whether we can be in both a Buyer’s Market AND a Seller’s Market is yes.

These statistics really point out why buyers and sellers should not base their decisions on what they read in the national news. Working with a Realtor who really knows YOUR market can be invaluable not only when you are strategizing pricing, but when you are evaluating other concerns as well (like resale value and potential resale challenges.)

Detailed statistics for last week in Vienna & Oakton are below.

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

• Number of Contracts: 27
• Average Days on Market for Active Listings: 102 days
• Average Days on Market for Listings That Went Under Contract: 59 days
• Inventory: 187 homes on the market
• 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): 1.6 months

Here are last week’s stats for Oakton Real Estate (22124):

• Number of Contracts: 9
• Average Days on Market for Active Listings: 86 days
• Average Days on Market for Listings That Went Under Contract: 28
• Inventory: 80 homes on the market
• Number of Months Supply of Homes (Based on past 90 day contract rate): 2.9 months
• Number of Months Supply of Homes (Based on past 30 day contract rate): 2.3 months

Also, you can read more about:

• What Sellers Should Look For In A Realtor
• Today’s Top 3 Tech Tools To Market Your Home
• Why You Don’t Want To Miss Out on “The Belt Team Experience”?

And you can listen to How Buyers Should Choose The Right Realtor.

For more from the Belt Team, click here.