Reston, VA

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:

For information on great Reston neighborhoods or if you would like a free valuation of your home, please feel free to contact me.

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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?

  1. 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.
  2. 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.
  3. 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.

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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.

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.

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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

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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:

For information on great Reston neighborhood, or if you’d like a free valuation of your home, please feel free to contact me.

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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

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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:

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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.

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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.

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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.

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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.

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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

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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

 

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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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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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