The Long & Foster Market Minute
Focus On: Reston Housing Market March 2014
Zip Code(s): 20194, 20190 and 20191
Units Sold
79
Active Inventory
164
Median Sale Price
$440,000
Days On Market
32
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up
Vs. Year Ago
Up 44%
Vs. Year Ago
Up 9%
Vs. Year Ago
Up 33%
Vs. Year Ago
Units Sold
There was an increase in total units sold in March, with 79 sold this month in Reston Real Estate. This month's total units sold was higher 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 50 units or 44%. The total number of active inventory this March was 164 compared to 114 in March 2013. This month's total of 164 is higher than the previous month's total supply of available inventory of 149, an increase of 10%.

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Median Sale Price
Last March, the median sale price for Reston Homes was $402,500. This March, the median sale price was $440,000, an increase of 9% or $37,500 compared to last year. The current median sold price is 10% higher than in February.

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
146
Current Contracts
110
Sold Vs. List Price
98.5%
Months of Supply
2.1
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 4%
Vs. Year Ago
Down -8%
Vs. Year Ago
Down -0.9%
Vs. Year Ago
Up 32%
Vs. Year Ago
Months of Supply
In March, there was 2.1 months of supply available in Reston, compared to 1.6 in March 2013. That is an increase of 31% 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 146 homes newly listed for sale in Reston compared to 141 in March 2013, an increase of 4%. There were 110 current contracts pending sale this March compared to 120 a year ago. The number of current contracts is 8% lower than last March.

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Sale Price to List Price Ratio
In March, the average sale price in Reston was 98.5% of the average list price, which is 0.9% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 32, higher than the average last year, which was 24, an increase of 33%.

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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.