The Long & Foster Market Minute
Focus On: Reston Housing Market September 2014
Zip Code(s): 20194, 20190 and 20191
Units Sold
66
Active Inventory
308
Median Sale Price
$402,950
Days On Market
35
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -21%
Vs. Year Ago
Up 73%
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 67%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in September, with 66 sold this month in Reston Real Estate versus 96 last month, a decrease of 31%. This month's total units sold was lower than at this time last year, a decrease of 21% versus September 2013.

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Active Inventory
Versus last year, the total number of homes available this month is higher by 130 units or 73%. The total number of active inventory this September was 308 compared to 178 in September 2013. This month's total of 308 is higher than the previous month's total supply of available inventory of 293, an increase of 5%.

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Median Sale Price
Last September, the median sale price for Reston Homes was $384,000. This September, the median sale price was $402,950, an increase of 5% or $18,950 compared to last year. The current median sold price is 5% lower than in August.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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New Listings
144
Current Contracts
71
Sold Vs. List Price
98.4%
Months of Supply
4.7
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 22%
Vs. Year Ago
Down -13%
Vs. Year Ago
No Change
Vs. Year Ago
Up 120%
Vs. Year Ago
Months of Supply
In September, there was 4.7 months of supply available in Reston, compared to 2.1 in September 2013. That is an increase of 120% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

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New Listings & Current Contracts
This month there were 144 homes newly listed for sale in Reston compared to 118 in September 2013, an increase of 22%. There were 71 current contracts pending sale this September compared to 82 a year ago. The number of current contracts is 13% lower than last September.

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Sale Price to List Price Ratio
In September, the average sale price in Reston was 98.4% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 35, higher than the average last year, which was 21, an increase of 67%.

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Reston are defined as properties listed in zip code/s 20194, 20190 and 20191.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by MRIS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate, Inc.