$5,973 Closing Credit*
$503,000
1,262 SqFt
3 Beds
•2 Full Baths, 1 Partial
Verria Hairston, Listing Office: Open Door Brokerage, LLC
Is Reston, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Reston has remained a Seller's Market.
Key Takeaway
Reston is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Reston, VA
How much do homes in Reston, VA cost?
Median Sold Price
$587,777
$355/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$48,382(+9.0%)
Key Takeaway
Homes in Reston have sold for 9% more than they did a year ago.
Summary: The median home sold price in Reston was $587,777 in October 2024, up 9% from last year, and the median price per square foot was $355.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $303.6K | $317.5K | +4.6% |
| 2 Bedrooms | $385K | $425K | +10.4% |
| 3 Bedrooms | $585K | $634.3K | +8.4% |
| 4 Bedrooms | $800K | $895K | +11.9% |
| 5+ Bedrooms | $995K | $1.0M | +10.2% |
Summary: Reston housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.6%, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes increased by 10.2%.
Median Sold Price Compared To Nearby Neighborhoods
| Reston | $539.3K | $587.7K | +9.0% |
| Lake Thoreau | $779.7K | $830K | +6.5% |
| Lake Anne | $741.5K | $717.5K | -3.2% |
| Lake Audubon | $912K | $800K | -12.3% |
Housing Supply in Reston, VA
How many homes are available in Reston, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 204 | 234 | +14.7% |
Summary: The Reston real estate market had 234 homes for sale in October 2024, a 14.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 24 | 19 | -20.8% |
| 2 Bedrooms | 57 | 76 | +33.3% |
| 3 Bedrooms | 69 | 67 | -2.9% |
| 4 Bedrooms | 40 | 52 | +30.0% |
| 5+ Bedrooms | 14 | 20 | +42.9% |
Summary: The Reston housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20.8%, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 68 | 90 | +32.4% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
54 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Reston, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 90 homes were sold or pending in Reston in October 2024, up by 32.4% month-over-month. Of the 90 sold homes, 19% were sold under asking, 21% were sold at asking, and 60% were sold over asking.
Days on Market for Reston, VA
How long does it take to sell a home in Reston, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 14 Days | 12 Days | -10.3% |
Summary: Homes in Reston had an average of 12 days on market in Oct 2024, down by 10.3% compared to last year.
Breakdown of Home Sale Times
76 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Reston are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 90 homes were sold in Reston; 84% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
