The Long & Foster Market Minute
Focus On: Reston Housing Market July 2014
Zip Code(s): 20194, 20190 and 20191
Units Sold
114
Active Inventory
284
Median Sale Price
$437,500
Days On Market
27
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -12%
Vs. Year Ago
Up 89%
Vs. Year Ago
Down -4%
Vs. Year Ago
Up 50%
Vs. Year Ago
Units Sold
There was an increase in total units sold in July, with 114 sold this month in Reston Real Estate versus 108 last month, an increase of 6%. This month's total units sold was lower than at this time last year, a decrease of 12% versus July 2013.

Click here to compare the units sold of this area against other locations.
Active Inventory
Versus last year, the total number of homes available this month is higher by 134 units or 89%. The total number of active inventory this July was 284 compared to 150 in July 2013. This month's total of 284 is higher than the previous month's total supply of available inventory of 264, an increase of 8%.

Click here to compare the active inventory of this area against other locations.
Median Sale Price
Last July, the median sale price for Reston Homes was $455,000. This July, the median sale price was $437,500, a decrease of 4% or $17,500 compared to last year. The current median sold price is 3% higher than in June.

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

Click here to compare the median sale price of this area against other locations.
New Listings
174
Current Contracts
103
Sold Vs. List Price
98.5%
Months of Supply
2.5
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 35%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -0.8%
Vs. Year Ago
Up 117%
Vs. Year Ago
Months of Supply
In July, there was 2.5 months of supply available in Reston, compared to 1.2 in July 2013. That is an increase of 116% 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.

Click here to compare the months of supply of this area against other locations.
New Listings & Current Contracts
This month there were 174 homes newly listed for sale in Reston compared to 129 in July 2013, an increase of 35%. There were 103 current contracts pending sale this July compared to 100 a year ago. The number of current contracts is 3% higher than last July.

Click here to compare the new listings of this area against other locations.

Click here to compare the current contracts of this area against other locations.
Sale Price to List Price Ratio
In July, the average sale price in Reston was 98.5% of the average list price, which is 0.8% lower than at this time last year.

Click here to compare the sale price to list price ratio of this area against other locations.
Days on Market
This month, the average number of days on market was 27, higher than the average last year, which was 18, an increase of 50%.

Click here to compare the days on market of this area against other locations.
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.