Reston (20194) Detached Homes
September Market Report
The Single Family Home market in Reston (20194) is consistently pretty strong. This September we saw a pretty large increase in number of new listings with fewer going under contract and closing. The graph below shows home sales in 20194 over the last year.
These are homes that have closed. As many people know, the spring market is the hottest leading to many closings into May through June. In September we had 6 closings. The homes that closed last month, closed in an average of just 8 days on the market! This is very far below the 5-year average of 51 days. They also commanded 99.1% of Original List Price! Again, well above the 5-year September average of 95.3%.
The graph above illustrates the number of active listings each month, within the last year. September proved to be the highest inventory all year. Although, 17 homes on the market is still pretty low, it is on par with the 5-year average of 15. The reason this number jumped to 17 is that 11 new listings went on the market in September with just 4 going under contract. Reston has a pretty good track record of high pendings relative to new listings. For the first time in recent months, the number of new listings wasn't mirorred by the number of pendings.