The Long & Foster Market Minute
Focus On: Reston Housing Market June 2014
Zip Code(s): 20194, 20190 and 20191
Units Sold
107
Active Inventory
254
Median Sale Price
$425,000
Days On Market
22
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -29%
Vs. Year Ago
Up 74%
Vs. Year Ago
Down -3%
Vs. Year Ago
Up 47%
Vs. Year Ago
Units Sold
There was an increase in total units sold in June, with 107 sold this month in Reston Real Estate versus 105 last month, an increase of 2%. This month's total units sold was lower than at this time last year, a decrease of 29% versus June 2013.

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Active Inventory
Versus last year, the total number of homes available this month is higher by 108 units or 74%. The total number of active inventory this June was 254 compared to 146 in June 2013. This month's total of 254 is lower than the previous month's total supply of available inventory of 272, a decrease of 7%.

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Median Sale Price
Last June, the median sale price for Reston Homes was $440,000. This June, the median sale price was $425,000, a decrease of 3% or $15,000 compared to last year. The current median sold price is 9% higher than in May.

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
147
Current Contracts
100
Sold Vs. List Price
98.5%
Months of Supply
2.4
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 15%
Vs. Year Ago
Down -19%
Vs. Year Ago
Down -1.1%
Vs. Year Ago
Up 144%
Vs. Year Ago
Months of Supply
In June, there was 2.4 months of supply available in Reston, compared to 1.0 in June 2013. That is an increase of 144% 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 147 homes newly listed for sale in Reston compared to 128 in June 2013, an increase of 15%. There were 100 current contracts pending sale this June compared to 124 a year ago. The number of current contracts is 19% lower than last June.

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Sale Price to List Price Ratio
In June, the average sale price in Reston was 98.5% of the average list price, which is 1.1% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 22, higher than the average last year, which was 15, an increase of 47%.

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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.