This is a sponsored post by Eve Thompson of Reston Real Estate.
39 properties successfully traded hands over the past two plus weeks. Not too bad given the holidays and other distractions.
What’s significant is that is almost 100% turnover of housing inventory! We have just 43 active listings in Reston, about a 2-week supply. This is consistent with what we’re seeing around the region. Buyer demand is high, but listings are in very short supply.
It’s interesting to note that coming on the market at the right price is still key to securing a good solid contract on your home. Short supply hasn’t driving buyers to write offers, solid value is what motivates buyers. You need to be the best presented item in your category — for your condition. In other words, your property doesn’t have to be perfect, you just can’t price it as if it is perfect!
Below are some of the properties that traded hands.
- 1851 Stratford Park Place #310 — 2 BD/2BA, $459,000 — $410,000 — 271 Days on Market
- 2360 Paddock Lane — 5 BD/3 BA, $795,000 — $825,000 — 11 Days on Market
- 1418 Church Hill Place — 2 BD/2 BA, $375,000 — $385,000 — 2 Days on Market
- 11238 Harbor Court — 2 BD/2 BA, $520,000 — $520,000 — 7 Days on Market
- 1230 Tottenham Court — 5 BD/5 BA, $1,249,000 — $1,350,000 — 2 Days on Market
If you’re looking to buy or sell in Reston and have questions, feel free to reach out!
This is a sponsored post by Eve Thompson of Reston Real Estate.
The Reston real estate market is starved for inventory with just 35 active listings and 13 in a Coming Soon status. For years we have averaged between 150-200 active listings, so this is painfully low.
Sparse inventory always favors the seller, however buyers are rejecting listings that don’t provide a good value proposition. Getting a fast contract for the best price usually happens because the property is in move-in ready condition, or, because the price acknowledges work to be done to get the property in good shape.
The market is very condo heavy with 31 of the total 48 properties being condos. As mentioned in my last blog, if you’re selling a single family and downsizing into a condo this is your market! You should be able to sell your single family house or townhouse for a premium and get a good deal on a condo!
Here’s a few of the new listings in Reston this week.
- 1629 Fieldthorn Drive — 2 BD/1.5 BA — $439,000 — Open Sunday
- 12000 Market Street #288 — 1 BD/1BA — $295,000
- 10801 Midsummer Drive — 5 BD/3 BA — $939,000
- 2320 Rosedown Drive — 5 BD/3.5 BA — $725,000
- 1656 Parkcrest Circle #101 — 1 BD/1BA — $274,980 — Open  Sunday
If you’re looking to buy or sell in Reston and have questions, feel free to reach out!
This is a sponsored post by Eve Thompson of Reston Real Estate.
COVID-19 did little to slow the Reston real estate market. Gains through 2021 were significant, we exceeded $800 million in volume and did 1559 transactions. The average sales price was $530k and the average days on market was 19.
While the Fed has been signaling that there will be rate increases, lenders are saying they expect rates to land in the high 3%’s to low 4%s; certainly higher than they have been, but still remarkably affordable by most measures.
In Reston expect a strong, early spring market. Low inventory will continue to drive fast contracts and low days on market. Those sellers who heed their agent’s advice for preparing and pricing their property will likely be rewarded with multiple offers.
For information on your homes value or a consultation on getting your home ready for the spring market, please feel free to contact me.
This is a sponsored post by Eve Thompson of Reston Real Estate.
The Reston market remains strong with little indication that things will ease up anytime soon. Drivers in our market continue to be a dire lack of inventory; even given the holiday season housing inventory is very, very low.
There are 59 properties listed as Active in Reston, and of those only 4 are single family homes and 21 townhouses. The remaining listings are condos, which continue to move at a somewhat slower pace.
Buyers and sellers best positioned to take advantage of the market are those seeking to sell a single family or townhouse, who want to turn around and purchase a condo.
Here is a list of a few of the newer listings in Reston this week.
- 11707 Newbridge Court — 4 BD/3.5 BA — $595,000
- 1682 Wainwright Drive — 5 BD/3 BA — $785,000
- 11042 Saffold Way — 3 BD/2 BA, 2 half bath — $549,900
- 11800 Sunset Hills Road #819 — 1 BD/1 BA — $359,900
- 11301 Reston Station Boulevard — 3 BD/4 BA — $1,075,000
For information on great Reston neighborhoods or if you would like a free valuation of your home, please feel free to contact me.
This is a sponsored post by Eve Thompson of Reston Real Estate.
Reston architectural aficionados know that Reston architect Ken Bonner built the first house in South Reston — a detached single-family house on Stirrup Road.
Ken once recalled having to transport a portable generator to the building site because there were no power lines yet. This was back in 1964. Integrating a human living space into nature in an environmentally sensitive way was his passion. In the 1960s, Reston founder Robert E. Simon Jr. was eager to give Ken a chance to build throughout Reston with that philosophy in mind.
Ken built about 65 homes in Reston, including the one where I raised my children. Mine was on the other side of Reston on Buttermilk Lane in the Uplands neighborhood of North Reston. I loved that house and the neighborhood. It backed up to a beautiful, treed lot with a creek at the bottom of the backyard. We kept the walls painted bright white and let the color of the woods in through the wall of windows that ran across the rear of the house. It was a fantastic place to raise our family. Much of that has to do with Bonner’s design philosophy.
What is lesser known in Reston is that Ken also designed townhome communities. Among them, Colts Neck Cluster. This community is comprised of 60 townhouses in South Reston, near the intersection of Colts Neck Road and South Lakes Drive. Escalante Court is off South Lakes Drive and next to the South Lakes Drive Park. Greywing Court is off Colts Neck Road.
Built in 1972-1973, these contemporary townhomes are three levels with cedar siding exteriors. The 1,600 to 2,000 square feet homes feel much larger because of Ken’s attention to every detail.
The Colts Neck community is close to the Reston National Golf Course and the Hunters Woods Village Center Shopping Center. It is also within two miles of the Reston East Metro station.
These lovely homes are not only perfect for anyone looking for well-designed, contemporary architecture in a close-knit, townhome community, they represent a piece of what makes Reston such a great place to live.
This is a sponsored post by Eve Thompson of Reston Real Estate.
The market continues to move at an extremely fast pace, leaving many buyers feeling like they will never snag the golden ring of a ratified sales contract. Buyers are waiving all kinds of protections to be the winning offeror.
Buyers: Your best bet is to be ready. Get all your paperwork into your lender so the only thing needed is a ratified sales contract. Work with your agent to hone in on location first and then focus on properties. In the end, location is the thing you can’t change.
Move quickly. When you find one that fits, write the offer! This market is really hard for people who have a slower decision-making process. If you are in this category, do lots of homework. Look at lots of property online, go to open houses and understand the finances. This way when you find one you like you feel more prepared to make the offer.
Here is a list of a few of the new listings in Reston this week:
- 1403 Newport Spring Court — 3 BD/3.5 BA — $550,000 — Open Sunday
- 2337 Lovedale Lane #411B — 2 BD/2 BA — $374,990 — Open Sunday
- 2337 Colts Brook Drive — 4 BD/3.5 BA — $669,900
- 1930 Upper Lake Drive — 4 BD/3 BA — $1,695,000Â
For information on great Reston neighborhoods or if you would like a free valuation of your home, please feel free to contact me.
This is a sponsored post from Eve Thompson of Reston Real Estate. For a more complete picture of home sales in your neighborhood, contact her on Reston Real Estate.
Inventory is starting to pick up, but it is happening very slowly. Interest rates are astonishingly low at 2.5% to 2.8%, which puts home ownership within reach of many more buyers. The single-family house and townhouse market is moving at a fast pace. The condo market is also moving quickly but is much more price sensitive, so if you’re selling a condo, you’ll really need to pay close attention to the price relative to the condition.
If you are a buyer in this market, you will need to do your homework upfront so you can act quickly when the right property comes on the market. What does that mean?
- Go ahead and choose your lender and get ALL your documentation completed so that all you need to do is give them a ratified contract.
- Have your agent review the contract and the buying process upfront. Make sure you understand the contract contingencies and the risks that come with choosing to waive them to make your offer stronger.
- If you are not inclined to waive contingencies, discuss with your agent how you can make your offer the most appealing.
Look for more inventory in the next few weeks.
Here are few of the properties that settled in the past 10 days:
1446 Yellowwood Court
4 BD/3.5 BA
List Price: $535,000
Sold Price: $545,000
11717 Karbon Hill Court
2 BD/2 BA
List Price: $310,000
Sold Price: $300,000
1719 Ivy Oak Square
3 BD/2.5 BA
List Price: $415,000
Sold Price: $420,000
For information on great Reston neighborhoods, or if you would like a free valuation of your home please feel free to contact me.
This is a sponsored post by Eve Thompson of Reston Real Estate.
Limited housing inventory continues to be the watchword, though the large number of properties added in the past week with a status of Coming Soon may indicate that things will be losing up soon.
There were 13 new listings this past week in Reston for a total of 68 active listings. The market is very active with 37 properties going under contract and 18 being added to the market in a “Coming Soon” status.
Here are few of the new listings this week in Reston.
- 11705-C Summerchase Circle — 1 BD/1 BA — $235,000
- 1258 New Bedford Lane — 5 BD/5 BA — $1,599,000
- 11900 Moss Point Lane — 3 BD/3 BA — $699,900
A few to watch out for that are in Coming Soon Status:
- 1846 Golf View Court — 4 BD/2 BA — $615,000
- 1829 Ivy Oak Square — 3 BD/2 BA — $419,900
For information on great Reston neighborhoods, or if you would like a free valuation of your home please feel free to contact me.
This is a sponsored post from Eve Thompson of Reston Real Estate. For a more complete picture of home sales in your neighborhood, contact her on Reston Real Estate.
Inventory is starting to pick up with a jump in housing inventory to 95 homes — 18 of those are in a “coming soon” status and the remaining 77 are active.
Keep in mind if you are not working with an agent you won’t have access to the houses in a coming soon status. Those can only be sent to you from the multiple listing system from a real estate agent.
Hopefully, this bump is a sign of an early spring market to come!
Here are few of the properties that settled in the past 10 days:
11123 Lake Chapel Lane
3 BD/2.5 BA
List Price: $815,000
Sold Price $818,500
12507 Thunder Chase Drive
4 BD/2.5 BA
List Price: $629,900
Sold Price: $660,000
11428 Tanbark Drive
4 BD/2.5 BA
List Price: $725,000
Sold Price: $715,000
1430 Northgate Square #11B
2 BD/2 BA
List Price: $265,000
Sold Price: $260,000
12000 Market Street #302
3 BD/2 BA
List Price: $570,000
Sold Price: $560,000
This is a sponsored post by Eve Thompson of Reston Real Estate.
There were just nine new listings this past week in Reston. Possibly sellers have been distracted with the news, maybe they are waiting for the so-called spring market. Whatever it was, we are left with a tiny pool of properties for buyers to consider. The total number of homes for sale is 82, which breaks down to 71 active listings and 11 in a “coming soon” status.
One interesting dimension of this pool of listings is that 78% of them are condominiums. The condo market in Reston is slightly softer than the market for townhouses and single-family houses. The average days on market for condos is at 65-plus days, while townhouses and single-family homes have averaged 21 days on the market.
As mentioned last week, the limited inventory is constraining a market that would like to boom. If you have a townhouse or single-family house and are ready to downsize, now is the perfect time. You will have the advantage on both sides of the equation — a fast sale and more inventory to choose from on the buy side.
Here is a look at a few of the new listings in Reston:
- 11529 Pine Cone Court — 3 BD/2.5 BA — $499,272
- 1671 Parkcrest Circle #101 — 1 BD/1 BA — $250,000
- 12013 Taliesin Place #35 — 2 BD/2 BA — $365,000
- 11240 Chestnut Grove Square # 260 — 1 BD/1 BA — $210,000
For information on great Reston neighborhood, or if you’d like a free valuation of your home, please feel free to contact me.
This is a sponsored post from Eve Thompson of Reston Real Estate. For a more complete picture of home sales in your neighborhood, contact her on Reston Real Estate.
Extremely low inventory continues to plague the market — there just are not enough houses on the market to meet the demand. In Reston there is currently ONE single-family home on the market. At the current rate of consumption, we have less than one month of housing inventory to meet buyer demand. We expect record low interest rates to continue through 2021, which is a big component of what is driving demand for housing.
The buy-up market is especially active. If you’re thinking of downsizing, especially if you’re considering a move to a condo, now is the time to do it. You will maximize your profit on the selling side and benefit from a slightly softer condo market on the buy side.
In the past 10 days, 30 properties in Reston successfully completed settlement and transferred ownership. Here are some of the recent sales in Reston:
12046 Creekbend Drive
5 BD/3.5 BA
List Price: $1,100,000
Sold Price: $1,100,000
12130 Purple Sage Court
3 BD/1.5 BA
List Price: $395,000
Sold Price: $400,000
11428 Tanbark Drive
4 BD/2.5 BA
List Price: $725,000
Sold Price: $715,000
1313 Headlands Court
2 BD/1.5 BA
List Price: $399,999
Sold Price: $400,000
1462 Greenmont Court
3 BD/3.5 BA
List Price: $499,500
Sold Price: $532,500
This is a sponsored post by Eve Thompson of Reston Real Estate.
With record low interest rates and people clamoring for a little more space, the Reston housing market wants to be soaring… wants to be… but is not. Why?
Well, there is very, very little to sell. There are currently just 73 active listings and only two of those are single-family homes. There are 10 properties listed as coming soon.
If you are thinking about selling, now is the time. This is especially true if you are looking to downsize. People who are ready to shed their large homes for something smaller can cash in on equity and then turn around to buy something smaller. Interest rates are so favorable that mortgages are as low or lower than the cost of a nice rental in Reston.
Here’s a look at a few of the new listings in Reston:
This is a sponsored post from Eve Thompson of Reston Real Estate. For a more complete picture of home sales in your neighborhood, contact her on Reston Real Estate.
It was an interesting year in Reston real estate. When the COVID-19 shutdowns hit, most agents were sure we’d be having a very difficult year. Oddly, after a quiet two or three weeks, most of us found ourselves busier than ever.
Low interest rates created a great buy-up market, and families suddenly faced with living, working and educating in one place found themselves reevaluating their housing needs.
More than 1,341 properties as of this writing have traded hands with another 60-plus scheduled to settle by December 31 — pushing Reston to just over 1,400 transactions with a value of more than $721 million.
Average home prices rose by 7% this year, coming in at $517,000 vs. $479,000 in 2019. Demand has remained strong and housing inventory has been low. If you’re selling a home and are not getting lots of traffic, you need to have a heart-to-heart with your agent. Strong demand doesn’t mean the buyer will buy anything — price and condition are still the most important factors in getting your house sold.
We currently have just 104 properties on the market; 107 homes sold in the past 30 days, and 66 homes are pending.
With interest rates expected to average 3.075% through 2021, the Reston real estate market should continue to be strong. If you’re ready to sell in 2021, you shouldn’t have too much trouble, provided you work with your agent to get your house ready and dig into the numbers to really understand what the market is doing in your neighborhood.
This is a sponsored post from Eve Thompson of Reston Real Estate. For a more complete picture of home sales in your neighborhood, contact her on Reston Real Estate.
Back in March when everything was shutting down I would never have predicted the speed at which the real estate market has continued to move.
Inventory is still very limited, interest rates are insanely low and I think the reality of working from home and home schooling kids may be driving people to reconsider their current living situations.
Currently there are 135 active and coming soon properties listed in Reston. That represents a one month supply of housing inventory. The average number of days it takes a house to sell is 20, with a median of just 6 days.
There’s a lesson in these numbers if you’ve got a house on the market that hasn’t sold. As strong as the market is the buyers are not buying everything and anything a seller puts on the market. Seller’s need to take whatever steps are needed to make sure that their home is the best priced “item” in its category FOR ITS PRICE PONIT. If your home is a fixer and you’ve got it priced like the one that’s “move in ready” down the block, you can expect to sit; these buyers are informed!
Here’s a few that sold in the last week.
11450 Waterview Cluster
4 BD/3.5 BA
List Price: $849,000
Sold Price: $850,000
11510 Sunder Court
3 BD/3.5 BA
List Price: $525,000
Sold Price: $551,000
11566 Rolling Green Court #100
2 BD/2 BA
List Price: $299,900
Sold Price: $299,900
2424 Silver Fox Lane
5 BD/4.5 BA
List Price: $880,000
Sold Price: $880,000
1559 Regatta Lane
4 BD/4.5 BA
List Price: $1,200,00
Sold Price: $1,200,000
We spent our shut down time reworking the All Reston Real Estate website. You can check it out here.
This is a sponsored post from Eve Thompson of Reston Real Estate. For a more complete picture of home sales in your neighborhood, contact her on Reston Real Estate.
Thinking of selling in the spring? The time to start getting ready is now.
I don’t typically hold to the notion that one time of year is better for selling your home verses another. For as long as I’ve been selling real estate I have always had at least one transaction around the holidays, but conventional wisdom says that there is something magical about spring. That being said, as of today there are 55 days until spring, and unless you are a contender for the Martha Stewart award for home organization, the time to start working on your house for a spring listing is now.
When a seller takes seriously the job of preparing their home it takes much, much longer than they imagine. It’s not at all uncommon for the sorting, purging, cleaning and painting to take up to 2 months.
So what kinds of things should you be doing to get your home ready?
- I recommend that you start with the closets. I think my agent collogues would agree that a closet that is half full sends a much better message than one that if stuffed to the gills. Most of us hold on to all kinds of stuff for no better reason than we have the room for it, so be ruthless.
- Pre-packing: For things that you really do want to keep but that you don’t need ready access to, go ahead and pack it up in anticipation of your move.
- Deep cleaning. I cannot stress to a seller how critical this is, clean it from the baseboards to the light switches to the light fixtures.
- Knock off the old “To-do” list. That old light fixture you’ve been meaning to replace since you bought the place — do it now!
- A competitive market demands that you make your place stand out from the crowd, so get a jump on it now.
The housing inventory continues to be painfully low with just 78 active listing and 6 in a “Coming Soon” status. That is just under 1 months’ worth of housing inventory. The good news in those numbers is that pretty much everything that comes on the market is going to get a lot of attention — if you’ve taken the time to get it ready and you’ve priced your property competitively you could very well find yourself in a multiple contract situation.
If you have questions about buying or selling don’t hesitate to contact me.
