Is It A Buyer's Market or A Seller's Market?

“Are we in a Buyer’s Market or a Seller’s Market in Vienna and Oakton?” 

This is a question we still often get asked. Well, the Northern VA real estate market remains brisk and the Vienna Oakton area is no different. Here’s what’s happening:

• In the past 30 days in Oakton, more homes have gone under contract than new listings have come on the market – 52 new listings & 55 contracts!
• Vienna is right behind Oakton in pace – with 137 new listings & 125 contracts in the last 30 days.
• Vienna inventory is at its highest this year – with 126 homes on the market. Oakton inventory is also at a 2013 high with 60 homes on the market. That being said, there is still less than 2 months housing inventory in both markets. And that means it’s still a SELLER’S MARKET.
• Market priced homes in good condition and good locations are still being snapped up. Average days on market for homes that went under contract this past week was 19 days. 63% of those homes sold in a week or less! Note that this is just the average across all price ranges. Lower price ranges often move faster.)  

Here are the rest of this week’s statistics:

Vienna Real Estate (22180,22181, 22182): 

Search Homes For Sale in Vienna 

• Number of Contracts: 33 (up from 25 last week)
• Avg Days on Market for Active Listings: 95 days (down from 101 last week)
• Avg Days on Market for Listings That Went Under Contract: 15 days (down from 38 last week)
• Inventory: 126 homes on the market
• # of Months Supply of Homes (Based on past 90 day contract rate): 1.5 months (lowest in 2013!)
• # of Months Supply of Homes (Based on past 30 day contract rate): 1.0 (lowest in 2013!)  

What Is My Vienna Home Worth?

Last week in Oakton Real Estate (22124): 

Search Homes For Sale in Oakton 

• Number of Contracts: 15 (down from 19 last week)
• Avg Days on Market for Active Listings: 101 days (down from 105 last week)
• Avg Days on Market for Listings That Went Under Contract: 28 days (down from 34 last week)
• Inventory: 60 homes on the market (up from 55 last week)
• # of Months Supply of Homes (Based on past 90 day contract rate): 1.5 months (lowest in 2013!)
• # of Months Supply of Homes (Based on past 30 day contract rate): 1.1  months (lowest in 2013!) 

What Is My Oakton Home Worth?

The Belt Team's mission is “Changing Lives For The Better – One Family At A Time!”