Oakton Real Estate Stats 2003-2012

• Are real estate sales up or down in Oakton?

• How long are homes in Oakton taking to sell?

• What was the average sales price for homes in Oakton last year?

• How close to list price will the final sales price be?

As you know, The Belt Team monitors the market closely on a daily basis and publishes statistics weekly. But sometimes it helps to take a step back and get some perspective by comparing things year over year. Below you’ll find statistics for the Oakton real estate market and the answers to these questions. Full ten year charts are on our Northern VA real estate blog, but here are a few highlights for 2012:

• Average Days on Market: 64 days (down from 83 days in 2011)
• Average Sales Price: $638,243 (down 3.7% from 2011)
• Number of Homes Sold: 285 (up 10.5% from 2011)
• Sold Price as a Percentage of Original List Price: 96.57% (up from 93.47% in 2011)

(Note: Belt Team listings in Oakton in 2012 sold for 1.05% more of list price than average. Using the average price of $638,243 – a Belt Team Seller would have netted $6,702 more than the average Seller. THIS is an example of why you should ask Realtors for their personal statistics BEFORE you hire them!)

P.S. NOW is a GREAT time to sell. Our open houses last weekend were PACKED! Buyers are out looking and there is not much to see. So if you’re thinking of selling in the Spring, you might want to reconsider and get on the market NOW before the competition heats up! (Call 703-242-3975 to schedule a listing appointment.)

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(Statistics provided per MRIS 1/8/12)