It’s mid-year in 2024, and here is your update on what is happening in the Reston real estate market. Great news, Reston, your market continues to be strong!

The information below shows data from the first halves of each year for all of Reston from 2022 – 2024.

Detached Single-Family Homes in Reston

The average sold price in the first halves of the year for detached single-family homes in Reston continued an upward trend. The average sold price in the first half of 2024 ($1,091,593) was up 13.3% compared to 2023 ($963,385).

The number of total listings and the average number of days on the market for detached single-family homes in Reston have fluctuated in the first halves of the last three years.

The graphs above show that the first half of 2022 had the most total listings (161) and the lowest number of average days on the market (9). However, even though the first half of 2024 had slightly more total listings than the first half of 2023 (125 compared to 118), homes sold three days faster.

Resale Townhouses in Reston

A lot has changed in the average sold price for Reston resale townhouses in the first half of the year! The graph above shows an increase of 10.3% in the average sold price in the first half of the year for 2024 ($678,641) compared to 2023 ($615,023).

Much like the first half of 2022 having the most total listings for detached single-family homes, the first half of 2022 also had the most total listings of resale townhouses (349).

However, unlike the total number of listings for detached single-family homes in Reston— which decreased in 2023 and then slightly increased in 2024 — the total number of listings for resale townhouses in the first halves of 2023 and 2024 continued to decrease.

While there has been some fluctuation in the average number of days on the market for resale townhouses, the average days on the market in the first half of 2024 was down 10 days compared to 2023 but was similar to the first half of 2022.

What Does this Mean for the Reston Real Estate Market?

We’re starting to see the market shift into a more traditional seasonal rhythm. While the market is ever evolving, the Reston real estate market continues to be strong. Lower inventory is showing an increase in average sold prices.

As the market continues to change and evolve, it’s important to work with trusted advisor to guide you through the process of selling your home. Margaret O’Gorman of The O’Gorman Team has extensive knowledge of the Reston area and market.

Let Margaret and The O’Gorman Team put their expertise to work for you. If you have any Reston real estate market questions, they are here to help. Contact Margaret and The O’Gorman Team today!