Reston (20194) Market Report
The Reston (20194) Single Family Home market tends to remain pretty consistent, there is generally low inventory with lots of new contracts and closed sales. This market typically stays in the hands of the Sellers. This month is no different but the number of pendings is below average, August saw only 4 new pendings. I’m going to break down the rest of the numbers before we get into the specifics!
7 New Listings
4 New Pendings
8 Closed Sales
Median Sold Price of $785,750
So 7 new listings doesn’t sound like a whole lot but when we see that there were just 13 total active listings by the end of August, 7 listings is over 50% new inventory! In 2013, we have seen the inventory mostly over around 10-15 depending on any given time, the thing that is so unique about Reston (20194) is that buyers scoop up new listings almost as fast as they come on!
This month saw a slight decrease in number of new pendings, the spring and early summer months were seeing the number of new listings almost match the number of new pendings which kept inventory low. This month, 4 new properties went under contract, so this allowed just a slight increase in breathing room for the inventory. As it stands right now, there is 3.25 months worth of inventory, which means this market remains in the seller’s favor.
August saw 8 homes close in Reston (20194), this number is on par with the 5-year August average of 11. These homes closed with a median sold price of $785,750 in just an average of just 22 Days on Market. Maybe the most remarkable statistic coming from this group of closed sales is that they sold with an average sold to original list price ratio of 99.7%!
The Reston (20194) Detached Home market is always strong, it generally has low inventory and buyers are often eager to get into their new homes and are willing to pay close to asking price for it. So if you own a home in Reston (20194) , get in touch with us now! We have the right tools to get your home sold!