The Reston (20194) Single Family Home Market is consistently a competitive, hot market. The inventory stays pretty consistent month over month and so do new listings, new pendings, and closed sales. Although May’s closed sales took a pretty big leap from April. Let’s get into the numbers!
- 15 New Listings
- 11 Closed Sales
- $739,500 Median Sold Price
- Average DOM 40
So let’s start with inventory! The North Reston Zip Code 20194 has 16 active listings right now. This number has been slowly but steadily rising since it saw it’s 5-year low in December. December had just 3 active listings! The reason this number is so slow to rise is because the number of homes going under contracts almost matches the number of listings hitting the market!
In may, 15 new listings went active. When we are talking in terms of 16 total actives, 15 new listings seems like a huge number but when we take into account that 14 properties went under contract, it nearly wipes out all the new listings! Now, not every new listing went under contract but the number of hungry buyers out there gobbling up the inventory! At this rate, if no new listings hit the market, we would have just over 1 month’s worth of inventory!
The number of closed sales jumped 120% over April! The number of closed sales is really a reflection of the previous month’s market but its great to see so many homes going to settlement. 11 closings is slightly above the 5-year average of 10.
These 11 homes closed in an average of 40 Days on Market. This is pretty consistent with what we have seen this spring. They closed with a median sold price of $739,500. This is slightly lower than in recent months but we have to take into account that the sample size is much larger, previous months saw 5 or less homes closing and this month we have more than double that!
The Reston (20194) Single Family Homes Real Estate Market is still going strong. This market is seeing unprecedented contract ratios, this month there are 1.38 pendings for every active. We have been over 1.33 since December, to put this into perspective… In the last 5 years, the contract ratio has been at/or greater than 1.0 only three times! This market is unprecedented, so call us today to get IN the market! Glynis Canto and the Natural Connection Team with Keller Williams Great Falls will guarantee you a quick and smooth transaction!