Reston Real Estate: Looking Back on 2019

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.

More than 1,320 properties traded hands accounting for a whopping $632M in volume. The average home prices remained flat this year coming in at $479K vs. $473 in 2018. While home prices were somewhat flat, demand was strong and housing inventory was low, an equation which would typically trend towards a Seller’s Market but intense price sensitivity kept the market fairly balanced with well-informed buyers not being willing to pay more just because there were so few.

What do buyers want?

Buyers are trending strongly towards “move in ready” with a preference for energy efficient and Green features. Commuting time and cost is also sighted as significant factor in determining properties desirability. Sellers have to create motivation in the buyers by presenting the very best option possible in the price category in which they’re competing

We currently have just 82 properties on the market; 93 homes sold in the past 30 days and 83 homes are pending.

With interest rates expected to average 3.6% through 2020 the Reston real estate market should continue to be strong. If you’re ready to sell in 2020 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.

Recent Stories

The Fairfax County Redevelopment and Housing Authority hopes to acquire land at 13500 Dulles Greene Drive for future affordable housing (via Fairfax County) The community will soon get a chance…

Morning Notes

A Metrobus stop at Concord Centre in Springfield (staff photo by Angela Woolsey) Where to See Fall Foliage in Fairfax County — “Autumn is officially here and our estimated 44…

Reston Station from the Wiehle Avenue bridge (staff photo by Angela Woolsey) A casino may still be on the table for Fairfax County, though it faces some long odds to…

Reston Association (file photo) The assessment fees that Reston Association members pay every year are expected to go up again in 2024, based on a newly proposed budget. To cover…


Subscribe to our mailing list