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.
I’ve been writing about the fast pace of Reston real estate and about the constrained inventory.
It’s true that things are moving fast — although not all segments of the market are moving with the same intensity. More than half of Reston’s current housing inventory is condominiums. Condos also account for slightly less than 50% of the year-to-date property sales.
This segment of the market has its own dynamics.
I’m always writing about the price sensitivity of our markets — this is especially true in the condo market. Because the condo market has a larger supply you must price to drive motivation from the buyers. Presentation is also especially important in the condo market — you have more competition so you need to make your property stand out to the buyers.
Likewise, prices cover a huge range as well; current condo listing prices go from a low of $189,900 for a garden style in South Reston to $1,750,000 for a penthouse property in Reston Town Center; clearly something for every price point.
For many buyers condominium living has a lot to offer. If you’re a person who can deal with living in closer proximity to your neighbors, then condo living might be a good option.
Many people love being able to just shut the door and go without having to worry about yard work and everything else that comes with single family living.