Blog Post: Vienna/Oakton Real Estate - Hot, Hot, Hot? Or Not?

Remember that old song by Lovin Spoonful, “Summer In the City“? Well, it’s “summer in the city” here in Vienna and Oakton, so let’s see how the real estate markets is. Is it "hot, hot, hot"? or "NOT"? 

• With less than a three month supply of homes in Vienna and less than two months in Oakton, both areas remain in a Seller’s Market. 

• Inventory in Vienna dropped 3 percent this week to 216 homes on the market. Inventory in Oakton also dropped slightly, to 82 homes.

• Contracts remained steady, but we also are seeing a variation in contract rates based on price range. This past week, out of 28 homes that went under contract, only four were listed above $770,000.

• The four higher priced homes averaged 85 days on the market, while the remaining 24 homes averaged only 63 days.

• Homes in the lower price ranges are still often selling in two weeks or less and/or are receiving multiple offers.

Conclusion: The Vienna & Oakton housing market remains HOT!

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

• Number of Contracts: 18
• Average Days on Market for Active Listings: 96 days
• Average Days on Market for Listings That Went Under Contract: 65 days
• Inventory: 216 homes on the market
• Number of Months Supply of Homes (Based on past 90 day contract rate): 2.35 months
• Number of Months Supply of Homes (Based on past 30 day contract rate): 2.5 months
• Search all Vienna homes for sale

Last week in Oakton Real Estate (22124):

• Number of Contracts: 10
• Average Days on Market for Active Listings: 83 days
• Average Days on Market for Listings That Went Under Contract: 68
• Inventory: 82 homes on the market
• Number of Months Supply of Homes (Based on past 90 day contract rate): 2.5 months
• Number of Months Supply of Homes (Based on past 30 day contract rate): 1.95 months
• Seach all Oakton homes for sale

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