Reston Single Family Homes in 20194 are still in high demand as the summer heat sets in. There are record low inventories all around the area and the Reston Single Family Home Market is no exception. With such low inventory, buyers are eagerly writing contracts and getting to closing. Let me show you exactly what I mean.
12 New Listings
13 Active Listings
16 New Pendings
25 Average Days on Market
Let’s discuss the low inventory so we can understand the big picture. 20194 Single Family Homes are often in high demand with low inventory, there just aren’t that many homes in 20194 and it has proved year over year to be such a desirable zip code. By the end of June, there were just 13 active listings. The 5-year June average is 22, so we are well below that and when we look at it year over year, June 2012 has 29 actives! This spring, leading into summer has been a hot seller’s market and these numbers are clear evidence as to why, they just don’t have much competition!
So by month’s end, there were 13 active listings, but during June, 12 new listings hit the market! But how can there be only 13 active listings when 12 went on the market that month?! The Buyers are scooping up homes faster than they can hit the market! In June, 16 new properties went under contract leaving us with a total of 19 properties under contract. This leaves us with an inventory of .8 months worth of inventory! If you are thinking about selling your Single Family Home in 20194, now is the time to talk to us!
So with all these homes going under contract, how many Single Family Homes are closing in Reston? 17 properties closed in June, This is almost on par with the 5-year average but we have to take into account that we have almost half the inventory! This really speaks volumes to how eager the buyers were, there tends to be some uncertainty with interest rates now so buyers are trying to get the most for their money while they can!
The 17 homes that sold have some pretty great statistics behind them. They sold with a median sales price of $782,000. This is slightly up form May 2013 and above the 5-year average of $769,300. These homes, on average, commanded 99% of original list price with an average of just 25 days on the market!
These numbers paint a great portrait of the Reston (20194) Single Family Home market. This zip code often see’s low inventory with a lot of competition, when homes are priced right, they can receive multiple offers. If you are thinking about selling your Single Family Home in 20194, you don’t have any time to waste! Call us now to get your home IN the market!