Reston Real Estate: Just Sold

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.

Our strong spring market is rolling into a strong summer market.

The past 10 days we had $11.5 million in home sales and had another $16.8M go under contract. The average home price in that same period was $446,000 and the average days on market was 24. So we’re on track for another solid year in real estate sales in Reston.

Here are few of the recent sales in Reston:

12070 Kinsley Place
2 BR/4 BA
List Price: $829,900
Sold Price: $810,000

 

 

1524 Northgate Square #11B
2 BR/1 BA
List Price: $241,500
Sold Price: $239,500

 

 

2307 Hunters Run Drive #2307
2 BR/1 BA
List Price: $275,000
Sold Price: $275,000

 

 

2113 Owls Cove Lane
4 BR/3 BA
List Price: $679,000
Sold Price: $680,000

 

 

1331 Vintage Place
2 BR/4 BA
List Price: $449,900
Sold Price: $450,000

 

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Reston Real Estate: Just Sold

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

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Reston Real Estate: Just Listed

This is a sponsored post by Eve Thompson of Reston Real Estate.

We’ve got 206 fully active properties on the market in Reston.

They range in price from $199,000 for a cute 1 bedroom, 1 bath Northgate Square condo in a great walk-able Lake Anne neighborhood, to $1,750,000 for a stunning 14th floor Stratford House Place unit with amazing views looking up Reston Town Center’s main drag to the Blue Ridge mountains beyond.

Properties are generally selling quickly. Average days on market for properties in a pending status, (those that are under contract), is just 17 days; more than half of those pending properties went under contract in a mere 7 days.

If you’ve got something on the market that’s not selling, or worse, not getting showings, it’s time to have a heart to heart with your agent. Ask them to reevaluate list price and then listen and act on that professional opinion.

Here are a few of the new listings in Reston. I thought I might try something different with the “just list listed” so today we’re focusing on new listings priced at less than $350,000.

If you have questions about the current value of your home or if you’d like ideas about getting it ready to sell, feel free to call or email me.

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Reston Real Estate: Just Sold

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

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Reston Real Estate: Just Listed

This is a sponsored post by Eve Thompson of Reston Real Estate.

Last week’s “Just Sold” noted a brisk uptick in closed and pending transactions — this week fewer new properties were added to the market, meaning  that new listings are not keeping pace with the sold listings.

It will be interesting to see how this impacts the market. Normally when demand for a product surpasses the supply you’d expect to see prices increase. While we are seeing escalation clauses and “over-list” offers, sellers that come on the market with their prices set high are not moving.

The average days on market for closed transactions is 24 days. If you’ve got a house on the market that’s been sitting for more than 30 days it’s probably safe to say that you’ve not found that nexus of price vs. condition that signals to the buyer — “make an offer now, this one won’t last!”

Here are a few of the new listings in Reston:

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Reston Real Estate: Links Pond Cluster, South 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.

Developed in 1974 by Jeffery Sneider & Company, the Links Pond Cluster of townhomes in South Reston features 3-level, 4-bedroom brick and siding homes.

The 67-home neighborhood borders Reston National Golf Course, and features the pond for which the cluster is named. It’s a common sight in the summer to see people spending lazy days fishing in the pond.

One of the things I love most about this neighborhood is that it feels like a little touch of country in the heart of Reston.

This is a great community for young families. The schools — Terraset Elementary, Langston Hughes and South Lakes High School — are all close. And as the children grow, there is plenty of parking to accommodate your needs as the number of cars you have grows. Each home has one assigned parking space, with plenty of additional parking on South Lakes Drive.

With easy access to the Reston Association paths, it’s easy to get out for a run or walk. Links Pond is close to both South Lakes Village Center and Hunters Woods Village Center, home to the Reston Community Center. Residents also have easy access to the Toll Road and the Wiehle metro.

As with every cluster that is part of Reston Association, Links Pond residents have access to the RA pools and tennis courts — nearby Glade pool with its waterslide is a favorite for kids!

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Reston Real Estate: Just Sold

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 past 10 days the Reston real estate market has seen an assertive increase in settled and pending transactions.

Just over 30 properties changed hands and 26 properties entered went under contract. It’s an active market, especially under $500,000 price point.

Here are a few of the recent sales in Reston:

1555 Regatta Lane
3 BR/3.5 BA
List Price: $925,000
Sold Price: $925,000

 

 

1737 Quietree Drive
2 BR/2.5 BA
List Price: $379,900
Sold Price: $392,000

 

 

11520 Links Drive
4 BR/2.5 BA
List Price: $530,000
Sold Price: $525,000

 

 

11463 Waterview Cluster 
4 BR/3 BA
List Price: $549,000
Sold Price: $540,000

 

 

11660 Mediterranean Court
4 BR/2.5 BA
List Price: $597,700
Sold Price: $600,000

 

 

Click here for more information on Reston Real Estate.

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Reston Real Estate: Just Listed

This is a sponsored post by Eve Thompson of Reston Real Estate.

There’s lots of activity in the Reston real estate market.

The new listings are staying even with the pending/sold listing which has our housing inventory holding fairly steady at just under 200.

Of the 35 properties that were listed for sale in the past week, 20 plus will be hosting Open Houses this weekend so if you’re in the market or, if you just like looking at houses there are a lot to see. Prices are ranging from 1.7 million in Reston Town Center to $199,900 in Northgate Square.

Here are some of the properties to hit the market this week:

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Reston Real Estate: Condominium Market

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.

Reston has a huge variety of types and prices of condos, from very low density properties like Vantage Hill to much more urban settings like Reston Town Center.

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.

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Reston Real Estate: Just Sold

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 past 10 days saw 23 Reston properties make it to a successful settlement and another 47 properties go under contract.

In that same period of time we added 57 new listings plus 6 are showing as “Coming Soon.” We’re adding a few more to the market than we’re selling but not by much; total inventory of houses for sell is still under 200.

Of those 200 houses currently on the market more than half are condominiums. The single family market in Reston is very constrained with just 29 properties currently on the market; 62 townhouses round out the balance of the housing inventory.

Prices of the properties that went under contract or sold in the past 10 days ranged from a $175,000 condo to a $1,195,000 single family home — Reston really does have something for every home buyer’s budget.

Here are some of the recent sales:

1386 Cameron Heath Drive
4 BR/3.5 BA
List Price: $1,250,000
Sold Price: $1,195,000

 

 

11315 Handlebar Road
4 BR/3.5 BA
List Price: $749,000
Sold Price: $740,000

 

 

2042 Royal Fern Court #1B
2 BR/1 BA
List Price: $230,000
Sold Price: $238,000

 

 

11233 Silentwood Lane
2 BR/1.5 BA
List Price: $374,900
Sold Price: $374,900

 

 

1629 Parkcrest Circle 
2 BR/2 BA
List Price: $278,500
Sold Price: $275,000

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Reston Real Estate: Just Listed

This is a sponsored post by Eve Thompson of Reston Real Estate.

The Reston market is moving at a really brisk pace.

It’s a great time to sell, if you’re buying it’s a little more challenging. In either case the key to success is being ready. If you’re selling do all that you can to get your house ready. If you’re buying get your paperwork in order with your lender so you can get qualified quickly.

Here are a few newcomers to the Reston real estate market:

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Reston Real Estate: Just Listed

This is a sponsored post by Eve Thompson of Reston Real Estate.

The spring market is upon us!

Inventory is low but new listings are generally keeping pace with property going under contract. The middle of the market from 475k-675k is super active and days on market is dropping.

I know I say this every, single week — but it bears repeating. If you are selling your property, the speed of this market is not driving crazy price escalations. If you want to see multiple contracts you should try to come on the market just a little bit on the lower side of your range. That is your very best chance of getting multiple offers with favorable terms.

Status: Pending Sales Past 10 Days

Here are some of the new houses to hit the market:

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Reston Real Estate: Just Sold

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.

Buyers are feeling the pinch of the limited housing inventory — especially in the middle price range of the market.

Days on market is averaging 19 with lots and lots of properties going in just 2 or 3 days. Escalation clauses are making a comeback as buyers struggle to position their offers as “the best” among many.

So, what can a buyer do to stand out in a crowd?

Here are a few things that can help:

  • Have your financing in order. Get prequalified by a well-known (I prefer “brick & mortar”), lender. Have your letter in-hand ready to go.
  • Focus on property that has been on the market for a while. In this market if a property has been on the market for 10+ days, it’s likely overpriced. Time usually softens a seller’s view on the value of their property.
  • Make your home inspection for informational purposes only. This may sound scary but you’ll retain your right to void your contract if you find something wrong. Many sellers will become negotiable once they see the results of an inspection.
  • Be ready to move fast — have your agent set up “auto-searches” for your target neighborhoods and be ready to go see houses as soon as they hit the market.
  • Don’t abandon common sense. Be reasonable, be patient, it will happen eventually.

Here are a few of the houses that sold in the past week in Reston.

Sold & Pending Sale — Past 10 Days

11326 Bright Pond Lane
5 BR/ 3.5 BA
List price: $999,000
Sold Price: $999,000

 

 

2229 Cedar Cove Court
3 BR/3.5 BA
List Price: $590,000
Sold Price: $592,000

 

 

2270 Wheelwright Court
3 BR/2 BA, 2 half bath
List Price: $473,000
Sold Price: $469,900

 

 

1553 Brookshire Court
3 BR/2 BA
List Price: $400,000
Sold Price: $412,000

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Reston Real Estate: Reston’s Changing Landscape

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 impact of Metro on Reston is hard to miss.

Anyone who’s tried to cross the Dulles Toll Road at rush hour can attest to changes we’ve gone through over the past 5 years. In addition to the impact on traffic and travel, Metro has also had an impact on neighborhoods.

Over the next several weeks I’m going to write about neighborhoods that fall within a 1 mile radius of the three Reston/Herndon Metro stops. This week we’re looking at Polo Fields.

Polo Fields consists of approximately 400 single family homes that were built between 1981 and 1996. They range in size from over 3000 sq. ft. with 6 bedrooms and 4 bath units, to more modest 1800 sq. ft. 3 bedroom 2 bath homes. They generally have nice flat yards that are great for kids and dogs. Many of the houses boast beautiful and welcoming front porches.

Home prices over the past year have ranged from a low 508,000 for a smaller (1875 sq. ft.), property that needed a good bit infrastructure work like windows, roof, HVAC, etc., to a high of $735,000 for a larger 300 sq. ft. plus a finished basement, property that was in tip-top, move-in ready condition.

This has always been a neighborhood that sells well — days on market last year averaged just 14 days, which is about 1/3 of what the overall Reston market averaged.

These homes, which are already really, really desirable have gotten a HUGE location upgrade. Every single one of them is less than one mile to the new metro stop — all of them are a 20 minute or less walk from front door to station — many of them are fewer than 10 minutes from door to station.

It was a really good neighborhood before — being walkable to the Metro bumps this neighborhood up to super desirable.

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Reston Real Estate: Just Sold

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 a busy weekend in Reston Real Estate.

Lots of buyers are in the hunt for new homes. Limited inventory has created some interesting dynamics. Open house traffic has been enormous and many agents are reporting multiple contracts on their listings.

This has not created crazy price increases; as you can see in the chart below, property is generally selling very close to its list or “last” list price. The exception to this price/inventory dynamic is at the mid-range of the market. Townhouses that are price under 500 and especially in the mid-400 range are very competitive.

My advice to sellers no matter what price their property; come on the market right at the market price, based on recent sales and you’ll have greater control of the selling process. Going on the market high thinking you need “room to negotiate” will only result in extra days on market and ultimately less cash in your pocket.

Sold Past 30 Days — Reston

Here are few of the homes that settled recently in Reston:

11041 Saffold Way
4 BR/2.5 BA
List Price: $ 440,000
Sold Price: $450,000

 

 

2604 Mountain Laurel Place
4 BR/2 BA, 2 half bath
List Price: $699,900
Sold Price: $595,000

 

 

12369 Lima Lane
4 BR/3.5 BA
List Price: $659,000
Sold Price: $662,000

 

 

1601 Purple Sage Drive
2 BR/1.5 BA
List Price: $370,000
Sold Price: $375,000

 

 

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