Vienna, Virginia Local Market Insights | June 2019 - Louis Taylor
 

Vienna, Virginia Local Market Insights | June 2019

Detached

In Vienna, VA, the median sold price for Detached properties for June was $889,500, representing an increase of 4% compared to last month and an increase of 0.6% from Jun 2018. The average days on market for units sold in June was 44 days, 25% below the 5-year June average of 59 days. There was a 19.8% month over month decrease in new contract activity with 65 New Pendings; a 9.7% MoM decrease in All Pendings (new contracts + contracts carried over from May) to 93; and a 10.4% decrease in supply to 172 active units. This activity resulted in a Contract Ratio of 0.54 pendings per active listing, no change from May and no change from June 2018. The Contract Ratio is 7% higher than the 5-year June average of 0.51. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.

 

Attached

In Vienna, VA, the median sold price for Attached properties for June was $575,500, representing an increase of 4.7% compared to last month and a decrease of 10.8% from Jun 2018. The average days on market for units sold in June was 19 days, 57% below the 5-year June average of 44 days. There was an 18.9% month over month decrease in new contract activity with 30 New Pendings; an 18.6% MoM decrease in All Pendings (new contracts + contracts carried over from May) to 35; and a 4.5% increase in supply to 23 active units. This activity resulted in a Contract Ratio of 1.52 pendings per active listing, down from 1.95 in May and an increase from 0.88 in June 2018. The Contract Ratio is 60% higher than the 5-year June average of 0.95. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is
moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.

 

Attached/Townhouse

In Vienna, VA, the median sold price for Attached/Townhouse properties for June was $674,000, representing an increase of 2.1% compared to last month and an increase of 2.1% from Jun 2018. The average days on market for units sold in June was 21 days, 51% below the 5-year June average of 43 days. There was a 15.8% month over month decrease in new contract activity with 16 New Pendings; a 23.1% MoM decrease in All Pendings (new contracts + contracts carried over from May) to 20; and a 6.3% decrease in supply to 15 active units. This activity resulted in a Contract Ratio of 1.33 pendings per active listing, down from 1.63 in May and an increase from 0.76 in June 2018. The Contract Ratio is 35% higher than the 5-year June average of 0.98. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.

 

Condo & Coop

In Vienna, VA, the median sold price for Condo & Coop properties for June was $295,000, representing a decrease of 11.1% compared to last month and a decrease of 6.3% from Jun 2018. The average days on market for units sold in June was 16 days, 64% below the 5-year June average of 45 days. There was a 22.2% month over month decrease in new contract activity with 14 New Pendings; an 11.8% MoM decrease in All Pendings (new contracts + contracts carried over from May) to 15; and a 33.3% increase in supply to 8 active units. This activity resulted in a Contract Ratio of 1.88 pendings per active listing, down from 2.83 in May and an increase from 1.06 in June 2018. The Contract Ratio is 96% higher than the 5-year June average of 0.96. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.

For full pdf, seeĀ Vienna VA June 2019 Local Market Insights