Is Reston, 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, 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
$558,175
$342/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Reston have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Reston was $558,175 in April 2024, up 6.8% from last year, and the median price per square foot was $342.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $285K | $305K | +7.0% |
| 2 Bedrooms | $376K | $395.3K | +5.1% |
| 3 Bedrooms | $555K | $605K | +9.0% |
| 4 Bedrooms | $797.5K | $825K | +3.4% |
| 5+ Bedrooms | $960K | $1.0M | +7.3% |
Summary: Reston housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 7.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Reston | $522.7K | $558.1K | +6.8% |
| Lake Anne | $685K | $725K | +5.8% |
| Lake Audubon | $895K | $875K | -2.2% |
Housing Supply in Reston, VA
How many homes are available in Reston, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 183 | 249 | +36.1% |
Summary: The Reston real estate market had 249 homes for sale in April 2024, a 36.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 17 | +21.4% |
| 2 Bedrooms | 66 | 88 | +33.3% |
| 3 Bedrooms | 61 | 76 | +24.6% |
| 4 Bedrooms | 27 | 46 | +70.4% |
| 5+ Bedrooms | 15 | 22 | +46.7% |
Summary: The Reston housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.4%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 24.6%, 4 bedroom homes increased by 70.4%, and 5+ bedroom homes increased by 46.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 73 | 85 | +16.4% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
17 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. 63.5% of homes here sold above asking price last month.
Summary: A total of 85 homes were sold or pending in Reston in April 2024, up by 16.4% month-over-month. Of the 85 sold homes, 16% were sold under asking, 20% were sold at asking, and 64% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 10 Days | 10 Days | -6.5% |
Summary: Homes in Reston had an average of 10 days on market in Apr 2024, down by 6.5% compared to last year.
Breakdown of Home Sale Times
78 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Reston are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 85 homes were sold in Reston; 92% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
