The Long & Foster Market Minute

Focus On: South Reston Housing Market March 2021

Zip Code(s): 20191
Units Sold
50
Active Inventory
22
Median Sale Price
$448,250
Days On Market
8
Down -14%
Vs. Year Ago
Down -56%
Vs. Year Ago
Down -4%
Vs. Year Ago
Down -38%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 50 sold this month in South Reston Real Estate versus 38 last month, an increase of 32%. This month's total units sold was lower than at this time last year, a decrease of 14% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 28 units or 56%. The total number of active inventory this March was 22 compared to 50 in March 2020. This month's total of 22 is higher than the previous month's total supply of available inventory of 14, an increase of 57%.

Median Sale Price
Last March, the median sale price for South Reston Homes was $465,000. This March, the median sale price was $448,250, a decrease of 4% or $16,750 compared to last year. The current median sold price is 18% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
91
Current Contracts
72
Sold Vs. List Price
104.2%
Months of Supply
0.4
Up 36%
Vs. Year Ago
Up 31%
Vs. Year Ago
Up 2.7%
Vs. Year Ago
Down -49%
Vs. Year Ago

Months of Supply
In March, there was 0.4 months of supply available in South Reston, compared to 0.9 in March 2020. That is a decrease of 49% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 91 homes newly listed for sale in South Reston compared to 67 in March 2020, an increase of 36%. There were 72 current contracts pending sale this March compared to 55 a year ago. The number of current contracts is 31% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in South Reston was 104.2% of the average list price, which is 2.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 8, lower than the average last year, which was 13, a decrease of 38%.

The Long & Foster Market Minute South Reston are defined as properties listed in zip code/s 20191.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.