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 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 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 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.
Like all businesses, real estate has been knocked back on its heels by COVID-19.
While many might see real estate transactions as being non-essential there are life situations that force people to move. Death, divorce, employment changes — things that are beyond an individual’s control that require them to sell or buy property.
So far the impacts of COVID-19 have been on behaviors around real estate processes. Masks, gloves, booties and hand sanitizers at showings and agents wiping down door knobs, light switches and hand rails after showings. Sellers are only allowing their homes to be shown by appointment and only to potential buyers –adults only no kids — that have been well vetted by a reputable lender and are pre-qualified to buy. Open Houses are no longer allowed.
Conventional wisdom would say that sales should be down; but in the Reston market things so far are holding steading. Our current housing inventory is 148 properties which includes 14 coming soon. 51 houses went pending in the last 14 days and more than half of those went pending in the last 7 days.
These numbers are consistent with what our rates of sales have been over the past 12 month period. So for those with no choice about selling or buying, the picture isn’t too bad — for buyers there is inventory and for sellers there are buyers.
Here are few of the properties that sold this week.
1298 Stamford Way
6 BD/4.5 BA
List Price: $1,099,000
Sold Price: $1,080,000
1355 Garden Wall Circle #712
2 BD/1 BA
List Price: $277,500
Sold Price: $277,500
11475 Washington Plaza W
3 BD/3 BA
List Price: $700,000
Sold Price: $700,000
1520 Moorings Drive #1B
2 BD/1.5 BA
List Price: $259,000
Sold Price: $265,000
11305 Traffail Court
4 BD/3.5 BA
List Price: $750,000
Sold Price: $795,000
2122 Cartwright Place
4 BD/2.5 BA
List Price: $374,900
Sold Price: $385,000
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.
The real estate market in Reston slowed just a bit over the past few weeks.
Buyers are not in a rush and days-on-market has stretched out a bit to an average of 36 days. Low interest rates and constrained inventory should have the impact of shorter days on market and can drive home prices up; but that’s not what we’re experiencing.
Buyers are taking things slowly and seem to know that if they miss out on one house there will be another around the corner and that is not untrue. What is harder to predict is interest rates; what we can say about them that even with a 1 point bump they’re still incredibly favorable.
Here are a few of the properties that have sold in the past several weeks.
2133 Cabots Point Lane
3 BR/2.5 BA
List Price: $974,900
Sold Price $974,900
1606 Chimney House Road
1 BR/1 BA
List Price: $249,000
Sold Price: $216,900
11719 Blue Smoke Trail
4 BD/2.5 BA
List Price: $849,900
Sold Price: $850,000
2224 Cartwright Place
3 BD/2.5 BA
List Price: $349,000
Sold Price: $349,000
1637 Stowe Road
4 BD/ 4 BA
List Price: $689,000
Sold Price: $675,000
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 don’t usually subscribe to the notion that there are good months and bad months to sell a home.
People have to move every day for a wide variety of reasons, but even I have to admit that the week running up to Labor Day is pretty darn sleepy.
That being said, 103 properties have changed hands in the past 30 days. We still have very limited inventory with just 170 houses on the market. The average days on market is 36. We should begin to see inventory climb as we move into the fall market.
Here are a few of the recent sales in Reston real estate.
12079 Kinsley Place
3 BR/3.5 BA
List Price: $995,000
Sold Price: $977,500
1277 Lamplighter Way
4 BR/3.5 BA
List Price: $789,000
Sold Price: $789,000
2143 Cabots Point Lane
3 BR/2.5 BA
List Price: $950,000
Sold Price: $925,000
11400 Washington Plaza #804
1 BR/1 BA
List Price: $210,000
Sold Price: $200,000
1563 Church Hill Place
2 BR/1.5 BA
List Price: $324,900
Sold Price: $325,000
2318 Glade Bank Way
3 BR/2.5 BA
List Price: $389,900
Sold Price: $384,000
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.
Reston real estate continues to be strong in spite of August being a little sleepy.
Inventory is painfully low with just 188 active listings on the market. Hopefully we’ll see more houses enter the market after the Labor Day holiday as people get ready for the fall market.
Year-To-Date sales in Reston are strong. 856 properties have changed hands with a total value $416 million. Typical of Reston, the house prices range from a low of $124,000 to a high of $1,400,000.
Here are a few of the houses that sold this past week.
2318 Glade Bank Way
3 BR/2.5 BA
List Price: $399,900
Sold Price: $384,000
11539 Pine Cone Court
3 BR/2 BA, 2 half bath
List Price: $484,500
Sold Price: $450,000
11404 Gate Hill Place #B
2 BR/2 BA
List Price: $359,900
Sold Price: $366,000
11990 Market Street #2002
3 BR/3 BA
List Price: $1,400,000
Sold Price: $1,400,000
11701 Newbridge Court
4 BR/3.5 BA
List Price: $565,000
Sold Price: $571,000
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.
We’ve been acting like it’s summer and been a little slack in getting the weekly numbers out — we’re going to put on our serious face and do better.
So, here’s how the sales in Reston have been this past month. We continue to have low inventory with just 201 active listings. Settled transactions in the same time period were 135, so that means we have about 1.4 months’ worth of housing inventory; meaning that in theory, if no more houses came on the market we’d sell all of the available stock of houses in 1.4 months.
Here are some of the recent sales in Reston.
10753 Blaze Drive
4 BR/4.5 BA
List Price: $1,075,000
Sold Price: $1,050,000
1550 Northgate Square #12B
2 BR/1 BA
List Price: $249,000
Sold Price: $255,000
2020 Mock Orange Court
4 BR/2.5 BA
List Price: $799,000
Sold Price: $799,000
2359 Paddock Lane
4 BR/3 BA
List Price: $649,900
Sold Price: $681,000
11539 Maple Ridge Road
3 BR/2.5 BA
List Price: $499,900
Sold Price: $510,000
1509 Chatham Colony Court
4 BR/3.5 BA
List Price: $454,700
Sold Price: $440,000
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.
This past week in the world of Reston real estate we had 28 houses go to settlement and another 48 house go under contract.
Across the region housing inventory is very limited and Reston is no exception with just 212 houses on the market.
Here are a few of the houses that went under contract this past week:
11114 Harbor Court
2 BR/2.5 BA
List price: $524,999
Sold Price: $525,000
1566 Harpers Cove Lane
5 BR/3.5 BA
List Price: $835,000
Sold Price: $835,000
12108 Quorn Lane
4 BR/3.5 BA
List Price: $605,900
Sold Price: $605,900
1646 Stowe Road
4 BR/3.5 BA
List Price: $669,000
Sold Price: $639,000
11020 Ring Road
4 BR/3.5 BA
List Price: $630,000
Sold Price: $632,000
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.
56 properties changed hands in the past 10 days and another 38 properties went under contract.
The average days on market is pretty steady at 24. More than half the properties which sold went under contract in 10 days or less, so things are moving a good clip. At the current pace, homes sales will out strip available inventory in about 1.3 months.
Every week I talk about the importance of coming on the market at a price that really drives the buyers to take action. It’s important to remember that everyone has access to the same information, buyer’s know the comparable home sales so coming on high won’t help sellers.
On the other hand, if you’re coming on the market on the low side you want to be sure your agent is taking steps to build interest in your property in order to drive your price up to the true market value.
Here are a few of the properties that sold in Reston over the past 10 days:
11114 Harbor Court
2 BR/1 BA
List Price: $524,999
Sold Price: $525,000
12001 Market Street #476
2 BR/1 BA
List Price: $320,000
Sold Price: $315,000
11416 Fairway Drive
4 BR/3 BA
List Price: $575,000
Sold Price: $ 576,258
2315 Rosedown Drive
4 BR/3.5 BA
List Price: $565,000
Sold Price: $589,000
1936-B Villaridge Drive
2 BR/1 BA
List Price: $299,900
Sold Price: $302,000
There were 19 homes that went from Pending to Sold this past week. The sales ranged in price from $725,000 to $199,000, with an average list price of $414,255 and were on the market for an average of 44 days before going under contract.
In that same period, 22 houses went from Active to Pending with an average days on market of just 25.
Total number of home for sale in Reston is 227 — Â or just under a three-month supply of inventory. None of this is a surprise as we’re fully into our spring market and things in Reston are busy!
Here are a few of the homes that sold this week in Reston:
2103 Thomas View Road. 4BR, 2.5BA. List Price: $609,900. Sold Price: $616,000. Seller Subsidy: $0
2125 Golf Course Drive. 3BR, 2.5BA. List Price: $369,500. Sold Price: $365,000. Seller Subsidy: $5,500
1347 Garden Wall Circle. #612. 2BR, 1BA. List Price: $255,000. Sold Price: $255,000. Seller Subsidy: $3,500
11408E Gate Hill Place #117. 2BR, 2BA. List Price: $405,000. Sold Price $309,000. Seller Subsidy: $5,000
1439 Greenmont Court. 2BR, 2.5BA. List Price: $399,950. Sold Price: $399,950. Seller Subsidy: $7,500
12000 Market Street. #189. 3BR, 2BA. List Price: $529,000. Sold Price: $518,000. Seller Subsidy: $0
Visit Reston Real Estate for more listing and sales information.
This is a sponsored post by Eve Thompson of Reston Real Estate.
This week in Reston, 23 properties went from pending to sold. They ranged in price from $897,000 to $210,000 and collectively had an average days on market of 35.
In Reston we’re selling more houses — much faster than they were in the fall of 2014.
Here are a few of the houses that sold last week.
2077 Cobblestone Lane. 3BR, 3.5 BA. List Price $585,000. Sold Price $585,000. Seller Subsidy $7,500
2069 Royal Fern Court #12B. 2BR, 1 BA. List Price $210,000. Sold Price $210,000. Seller Subsidy $0
1537 Inlet Court. 4BR, 2.5 BA. List Price $434,500. Sold Price $474,500. Seller Subsidy $8,000
11063 Saffold Way. 4BR, 3.5 BA. List Price $429,900. Sold Price $429,900. Seller Subsidy $7,500
11730 Summerchase Circle #1730. 2 BR, 1 BA. List Price $255,000. Sold Price $255,500. Seller Subsidy $7,665
1315 Dasher Lane. 6BR, 4.5 BA. List Price $897,450. Sold Price $893,000. Seller Subsidy $0
This is a sponsored post from Eve Thompson of Reston Real Estate.
Reston’s real estate market saw 18 homes go from Pending to Sold in the past 10 days. For all the fretting about a slower market over the summer, year-to-date sales are on track for a very solid 2014 in Reston real estate.
To date, 766 properties have sold–based on our quarterly averages we should see over 1000 homes sold by the end of the year. Here are a few of the ones that sold this past week.
- 11817 GREY BIRCH PL. 3BR, 2.5 BA. List Price, $650,000; Sold Price, $650,000. Seller Subsidy, $3,750
- 2204 COPPERSMITH SQ. 3BR, 3.5 BA. List Price, $379,000; Sold Price, $370,000. Seller Subsidy $888
- 11002 HOWLAND DR. 4BR, 2.5 BA. List Price, $479,900. Sold Price, $479,900. Seller Subsidy $5,000
- 11218 WEDGE DR. 4BR, 3.5 BA. List Price, $760,000; Sold Price, $742,000
- 1599 AUTUMN RIDGE CIR. 3BR, 3.5 BA. List Price, $439,900; Sold Price, $440,000. Seller Subsidy $7000
- 12012 TALIESIN PL #16. 2BR, 1.5 BA. ListPrice, $334,900; Sold Price, $330,000
- 1650 BENNINGTON HOLLOW LN. 3BR, 2 FB, 2 HB. $674,900; Sold Price, $662,000
- 2325 HARLEYFORD CT. 3BR, 2.5 BA. List Price, $385,000; Sold Price, $370,000
- 1717 WAINWRIGHT DR. 4BR, 2.5 BA. List Price, $369,900; Sold Price, $350,000
This is a sponsored post from Eve Thompson of Reston Real Estate.
The mini slowdown we experienced this summer is showing up in the weekly Just Sold report with just eight properties going from PENDING to SOLD this week in Reston. Â Average Days on market for this little group is 24, which doesn’t seem too bad — until you look at the way we count days on market.
When you put your house on the market, the multiple listing system keeps track of how many days it takes for your property to sell. But let’s say you put your house on the market and after 60 or 90 days it doesn’t sell, so you decide to change real estate agents.
Your new agent will create a new listing record for your house — the days on market counter is reset to 0, but there is a new counter called days on market property that keeps track of how long that property has been on the market regardless of what agent has the listing. When we look at the property counter we see the average for this group is actually 64.
That’s a lot of days to have to get up and have your house in ready-to-show condition.
The common thread in these houses that sat on the market a longest time is that the difference between their original list price and their final sold price was significant. Getting your house priced right when the market is in transition is hard; it takes a lot of honest dialogue between agent and client to adjust course quickly if your property isn’t getting enough activity to get it sold.
Here are the 8 properties that sold this week:
- 12105 PURPLE SAGE CT N: 3BR, 1.5 BA. List Price $314,995; Sold Price $300,000
- 2161 CABOTS POINT: 3BR, 3 BA. List Price $624,900; Sold Price $590,000 Seller Subsidy $8,000
- 1560 TRAILS EDGE LN: 5BR, 3.5 BA. List Price $775,000; Sold Price $692,000 Seller Subsidy $10,000
- 2334 ANTIQUA CT: 3BR, 3.5 BA. List Price $335,000; Sold Price $327,000 Seller Subsidy $8,000
- 2417 ALSOP CT: 3BR, 2.5 BA. List Price $399,000; Sold Price $392,000 Seller Subsidy $3,925
- 11939 RIDERS LN: 4BR, 3 Full 2 Half BA. List Price $878,000 Sold Price $878,000
- 1413 NORTHGATE SQ: 3BR, 2 BA. List Price $309,000; Sold Price $289,000 Seller Subsidy $2,300
- 2143 GREENKEEPERS CT: 3BR, 2 BA. List Price $469,000; Sold Price $460,000 Seller Subsidy $3,000
