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Low, Low, Low Home Inventory in Reston

We're selling about 90 homes per month and there's only 85 on the market, are we going to run out of homes to sell in Reston?

Every week when I post the new listings in Reston I’m shocked at how few properties are available for sale in our three zip codes, as of today there are just 85 properties on the market.

Homes are selling very briskly, the average number of days a property is on the market has dropped to about 30. Based on the rate which homes are selling, Reston would have zero properties on the market in about 28 days if no new ones are listed to take their place!

If you have your house on the market and it’s been sitting for more than 30 days- you need to look hard at the price and the condition, statistically the longer it sits on the market the bigger the gap between list price and contract price.  

What does all this mean? Well, it’s a great time to sell, and with interest rates this low it’s a great time to buy. The rental market has been a little softer in the last 90+ days with more people choosing to buy rather than rent.

Here are a few of the new listings in Reston.

11627 Springhouse Pl 3 BR 3.5 Bath 2842 Sq. Ft. $680,000

2106 Green Watch Way #200 2BR 2 Bath 1140 Sq. Ft. $275,000

12000 Market St #416 2 BR 2 Bath 1072 Sq. Ft. $430,000

11790 INDIAN RIDGE RD 3BR 3.5 Bath 2604 Sq. Ft. $549,000

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.

Chipperson December 06, 2012 at 11:51 AM
Good. It will make it easier to sell and profit. It's not an easy investment getting into Reston but in the long term it will pay off.
The BSD Guy December 06, 2012 at 06:58 PM
FINALLY .... a newspaper and website that allows SPAM!
Karen Goff December 06, 2012 at 07:02 PM
BSD Guy - not following you. Eve is a well-known realtor in the community who is offering a snapshot as to what is on the market.

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