Is Vienna, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Vienna has remained a Seller's Market.
Key Takeaway
Vienna is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Vienna, VA
How much do homes in Vienna, VA cost?
Median Sold Price
$1,122,187
$383/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Vienna have sold for 13.4% more than they did a year ago.
Summary: The median home sold price in Vienna was $1,122,187 in May 2024, up 13.4% from last year, and the median price per square foot was $383.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $278K | $315.5K | +13.5% |
| 2 Bedrooms | $404K | $425K | +5.2% |
| 3 Bedrooms | $792.4K | $825K | +4.1% |
| 4 Bedrooms | $985K | $1.0M | +8.2% |
| 5+ Bedrooms | $1.6M | $1.5M | -3.7% |
Summary: Vienna housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.5%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes decreased by 3.7%.
Median Sold Price Compared To Nearby Cities
| Vienna | $990K | $1.1M | +13.4% |
| Hunter Mill | $655.5K | $710.4K | +8.4% |
| Providence | $617.1K | $636.4K | +3.1% |
Housing Supply in Vienna, VA
How many homes are available in Vienna, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 209 | 249 | +19.1% |
Summary: The Vienna real estate market had 249 homes for sale in May 2024, a 19.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 13 | 8 | -38.5% |
| 3 Bedrooms | 29 | 38 | +31.0% |
| 4 Bedrooms | 57 | 76 | +33.3% |
| 5+ Bedrooms | 108 | 123 | +13.9% |
Summary: The Vienna housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 38.5%, 3 bedroom homes increased by 31%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 13.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 60 | 48 | -20.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
33 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Vienna, you could pay more than the asking price. 68.8% of homes here sold above asking price last month.
Summary: A total of 48 homes were sold or pending in Vienna in May 2024, down by 20.0% month-over-month. Of the 48 sold homes, 19% were sold under asking, 13% were sold at asking, and 69% were sold over asking.
Days on Market for Vienna, VA
How long does it take to sell a home in Vienna, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 11 Days | 14 Days | +23.4% |
Summary: Homes in Vienna had an average of 14 days on market in May 2024, up by 23.4% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Vienna are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 48 homes were sold in Vienna; 88% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
