The Long & Foster Market Minute
Focus On: Reston Housing Market November 2014
Zip Code(s): 20194, 20190 and 20191
Units Sold
53
Active Inventory
265
Median Sale Price
$420,000
Days On Market
41
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down
Vs. Year Ago
Up 79%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 71%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in November, with 53 sold this month in Reston Real Estate. This month's total units sold was lower than at this time last year.

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Active Inventory
Versus last year, the total number of homes available this month is higher by 117 units or 79%. The total number of active inventory this November was 265 compared to 148 in November 2013. This month's total of 265 is lower than the previous month's total supply of available inventory of 315, a decrease of 16%.

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Median Sale Price
Last November, the median sale price for Reston Homes was $405,000. This November, the median sale price was $420,000, an increase of 4% or $15,000 compared to last year. The current median sold price is 3% lower than in October.

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
100
Current Contracts
80
Sold Vs. List Price
98.2%
Months of Supply
5.0
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 32%
Vs. Year Ago
Up 4%
Vs. Year Ago
No Change
Vs. Year Ago
Up 140%
Vs. Year Ago
Months of Supply
In November, there was 5.0 months of supply available in Reston, compared to 2.1 in November 2013. That is an increase of 140% 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 100 homes newly listed for sale in Reston compared to 76 in November 2013, an increase of 32%. There were 80 current contracts pending sale this November compared to 77 a year ago. The number of current contracts is 4% higher than last November.

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Sale Price to List Price Ratio
In November, the average sale price in Reston was 98.2% 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 41, higher than the average last year, which was 24, an increase of 71%.

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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.