There’s an old song called “Hot Hot Hot“. (You can see the video on our blog.) Well, “hot, hot, hot” is a very apt description of today’s Vienna real estate market. And Oakton’s real estate market is not far behind.

VIENNA

Vienna’s inventory is back down to 200 homes. That’s the lowest it’s been since April. And while contracts have slowed slightly, the market is still moving fairly quickly. Last week 47 percent of the homes that sold were gone in two weeks or less. And with housing supply less than three months, we’re still in a Seller’s Market in Vienna.

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Last week in Vienna Real Estate (22180,22181, 22182):

• Number of Contracts: 15
• Average Days on Market for Active Listings: 97 days
• Average Days on Market for Listings That Went Under Contract: 61 days
• Inventory: 200 homes on the market
• Number of Months Supply of Homes (Based on past 90 day contract rate): 2.4 months
• Number of Months Supply of Homes (Based on past 30 day contract rate): 2.5 months

OAKTON

Oakton inventory, on the other hand, has increased just a bit and sits at 87 homes. The number of homes going under contract over the past month has been average – with six to seven homes per week selling. And homes in Oakton are moving at about the same pace as those in Vienna. Forty-three percent of those sold in the past week, sold in two weeks or less. Housing supply of just about three months puts Oakton in a Balanced Market.

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Last week in Oakton Real Estate (22124):

• Number of Contracts: 7
• Average Days on Market for Active Listings: 79 days
• Average Days on Market for Listings That Went Under Contract: 93
• Inventory: 87 homes on the market
• Number of Months Supply of Homes (Based on past 90 day contract rate): 3.0 months
• Number of Months Supply of Homes (Based on past 30 day contract rate): 3.2 months

For more from the Belt Team, visit their blog.