The Long & Foster Market Minute
Focus On: Reston Housing Market October 2014
Zip Code(s): 20194, 20190 and 20191
Units Sold
81
Active Inventory
309
Median Sale Price
$432,500
Days On Market
33
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 7%
Vs. Year Ago
Up 70%
Vs. Year Ago
Up 18%
Vs. Year Ago
Up 65%
Vs. Year Ago
Units Sold
There was an increase in total units sold in October, with 81 sold this month in Reston Real Estate versus 67 last month, an increase of 21%. This month's total units sold was higher than at this time last year, an increase of 7% versus October 2013.

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Active Inventory
Versus last year, the total number of homes available this month is higher by 127 units or 70%. The total number of active inventory this October was 309 compared to 182 in October 2013. This month's total of 309 is lower than the previous month's total supply of available inventory of 317, a decrease of 3%.

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Median Sale Price
Last October, the median sale price for Reston Homes was $367,250. This October, the median sale price was $432,500, an increase of 18% or $65,250 compared to last year. The current median sold price is 8% higher than in September.

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
145
Current Contracts
77
Sold Vs. List Price
98.6%
Months of Supply
3.8
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 37%
Vs. Year Ago
Up 10%
Vs. Year Ago
No Change
Vs. Year Ago
Up 59%
Vs. Year Ago
Months of Supply
In October, there was 3.8 months of supply available in Reston, compared to 2.4 in October 2013. That is an increase of 59% 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 145 homes newly listed for sale in Reston compared to 106 in October 2013, an increase of 37%. There were 77 current contracts pending sale this October compared to 70 a year ago. The number of current contracts is 10% higher than last October.

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Sale Price to List Price Ratio
In October, the average sale price in Reston was 98.6% 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 33, higher than the average last year, which was 20, an increase of 65%.

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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.