So let's start with the weekly update for Vienna:
As you can see by the above chart, 3 homes in Vienna went under contract this week and inventory has increased only very slightly. Anecdotally though, what you do not see in the chart is that a number of listings are "percolating under the surface". What we mean by that is that we have had a number of sellers sign listing agreements or contact us for listing appointments, but they are not quite ready to go on the market yet. Based on our appointments & phone calls this week, it looks like the first week of February will see an uptick in listing inventory.
Average days on market (DOM) for active listings in Vienna is at 168 days.
And with 168 total homes currently on the market, we now have a 3.3 month supply of homes based on the average number of sales over the past 90 days.
Here's the update for Oakton:
In Oakton, net inventory decreased from 54 total homes for sale to just 51. However, only 1 home went under contract. (Several listings expired or were withdrawn.)
Average days on market is slightly less in Oakton than it is in Vienna - at 147 DOM.
And there is currently a 3 month supply of inventory on the market.
Stay tuned & check back frequently to see what is happening in Vienna and Oakton. . And keep your eyes peeled for our new You Tube series that will be coming out with local real estate updates! You can subscribe to The Belt Team channel on You Tube also. It's a great way to see new listings as they come onto the market.
In the meantime, enjoy this quick 48 second video. (And let us know if you like it!)
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