The Long & Foster Market Minute
Focus On: Reston Housing Market December 2014
Zip Code(s): 20194, 20190 and 20191
Units Sold
82
Active Inventory
224
Median Sale Price
$427,450
Days On Market
51
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up
Vs. Year Ago
Up 90%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 50%
Vs. Year Ago
Units Sold
There was an increase in total units sold in December, with 82 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 106 units or 90%. The total number of active inventory this December was 224 compared to 118 in December 2013. This month's total of 224 is lower than the previous month's total supply of available inventory of 273, a decrease of 18%.

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Median Sale Price
Last December, the median sale price for Reston Homes was $375,000. This December, the median sale price was $427,450, an increase of 14% or $52,450 compared to last year. The current median sold price is 3% higher than in November.

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
55
Current Contracts
48
Sold Vs. List Price
98.2%
Months of Supply
2.7
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 72%
Vs. Year Ago
Up 7%
Vs. Year Ago
No Change
Vs. Year Ago
Up 83%
Vs. Year Ago
Months of Supply
In December, there was 2.7 months of supply available in Reston, compared to 1.5 in December 2013. That is an increase of 83% 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 55 homes newly listed for sale in Reston compared to 32 in December 2013, an increase of 72%. There were 48 current contracts pending sale this December compared to 45 a year ago. The number of current contracts is 7% higher than last December.

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Sale Price to List Price Ratio
In December, 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 51, higher than the average last year, which was 34, an increase of 50%.

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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.