Is Oakton, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Oakton has remained a Seller's Market.
Key Takeaway
Oakton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oakton, VA
How much do homes in Oakton, VA cost?
Median Sold Price
$705,666
$343/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Oakton have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in Oakton was $705,666 in April 2024, up 11.1% from last year, and the median price per square foot was $343.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $273K | $298.4K | +9.3% |
| 2 Bedrooms | $380K | $397K | +4.5% |
| 3 Bedrooms | $611.5K | $682.5K | +11.6% |
| 4 Bedrooms | $875K | $995K | +13.7% |
| 5+ Bedrooms | $1.4M | $1.3M | -3.9% |
Summary: Oakton housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.3%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 13.7%, and 5+ bedroom homes decreased by 3.9%.
Housing Supply in Oakton, VA
How many homes are available in Oakton, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 81 | 101 | +24.7% |
Summary: The Oakton real estate market had 101 homes for sale in April 2024, a 24.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 10 | 16 | +60.0% |
| 3 Bedrooms | 24 | 22 | -8.3% |
| 4 Bedrooms | 13 | 25 | +92.3% |
| 5+ Bedrooms | 30 | 34 | +13.3% |
Summary: The Oakton housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 60%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 92.3%, and 5+ bedroom homes increased by 13.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 34 | 32 | -5.9% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oakton, you could pay more than the asking price. 71.9% of homes here sold above asking price last month.
Summary: A total of 32 homes were sold or pending in Oakton in April 2024, down by 5.9% month-over-month. Of the 32 sold homes, 22% were sold under asking, 6% were sold at asking, and 72% were sold over asking.
Days on Market for Oakton, VA
How long does it take to sell a home in Oakton, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 12 Days | 9 Days | -22.3% |
Summary: Homes in Oakton had an average of 9 days on market in Apr 2024, down by 22.3% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Oakton are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 32 homes were sold in Oakton; 94% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
