- "For the first time since February 2006, the number of active listings in the MRIS region has fallen below 50,000.
- As of January 2, there were 48,554 homes for sale in the region, down over 25,500 units from a year ago.
- Strong sales and weak new listings are drawing down the available inventory and slowly pushing the market back towards balance.
- For the week ending January 2, there were 1,221 signed purchase agreements, up 9.5 percent from a year ago.
- New listings posted 1,816 units, down 21.8 percent from a year ago.
- There are two other healthy indicators worth noting. The Average Days on Market Until Sale has fallen to 87—22.5 percent below a year ago.
- And the Percent of Original List Price Received at Sale has jumped 3.2 percent to 93.8."
Here in Vienna, this is what you'll find on the market:
125 Single Family Detached Homes - ranging in price from a $398,765 tear-down possibility to a $4,250,000 home with 7 bedrooms, 9 full baths and 6 acres.
12 Townhomes - ranging in price from a $320,000 townhome in Cyrandall Valley North to a $720,000 townhome in The Reserve at Tysons Corner
13 Condos - ranging in price from a $175,000 unit at Mosbys Landing to a $349,900 unit at The Westbriar by the Dunn Loring Metro.
We'll be tracking things here in Vienna as we move into Spring. So check back regularly and you will be able to see how our market is moving in terms of how long it takes to sell a home (average days on market or "DOM"), how much homes actually sell for in comparison to how much they were listed for (SP/LP Ratio), and what the inventory is.
If you are thinking of buying or selling a home in Vienna or anywhere in Northern Virginia, contact The Belt Team at (703) 242-3975.
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