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Blog: It's Still A Seller's Market

Low interest rates and the pressure low inventory is putting on prices make now a great time to both you or sell a home. Here are this week's statistics.

What's happening this week in the Vienna & Oakton real estate markets?

As Sargent Friday used to say "Just the facts ma’am!"

  • In Vienna, inventory dropped 9 percent this past week, as 168 homes are on the market. That's 11 percent below the average inventory we have seen throughout 2012. (SELLERS: NOW is a great time to sell! Less competition = leverage for YOU!
  • Oakton’s housing inventory remained stable. Seventy-six homes are currently on the market.
  • This past week we also saw contract levels rebound from the week before. In Oakton, nine homes went under contract. (We only saw five contracts for the week prior.) And in Vienna, 24 homes went under contract as opposed to 17 the week before.  

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

Search Homes For Sale in Vienna

  • Number of Contracts: 24
  • Average Days on Market for Active Listings: 117 days
  • Average Days on Market for Listings That Went Under Contract: 72 days
  • Inventory: 168 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): 2.1 months

Last week in Oakton Real Estate (22124):

Search Homes For Sale in Oakton

  • Number of Contracts: 9
  • Average Days on Market for Active Listings: 94 days
  • Average Days on Market for Listings That Went Under Contract: 64
  • Inventory: 76 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): 3.8 months

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Belt Team CEO, Terry Belt, commented "If I personally had a home to sell, I would put it on the market NOW because there is strong demand and less competition. If I were personally looking to buy, considering all-time low interest rates and the pressure on pricing with less inventory, I would do so now!"

If you're thinking of buying or selling a home, Contact The Belt Team at 703-242-3975.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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