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.
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.
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
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:
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!
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.
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.
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 admit I’m partial to Lake Anne neighborhoods — they are beautiful and convenient to all the amenities Reston has to offer.
Lake Side Cluster is a great Reston neighborhood that does not get as much attention as its famous neighbor, Waterview Cluster. And frankly, the community likes it that way. This is a friendly, quiet, unassuming neighborhood.
Lake Side Cluster has everything all of the neighborhoods that border Reston’s Lake Anne share — access to the lake, a quick walk to Lake Anne Village Center, well-designed homes (many of which are direct lakefront).
Lake Side Cluster was built between 1965 and 1969, and comprises 90 lovely two and three level townhouses and patio homes with two to four bedrooms — and garages (which makes them different than most of their Lake Anne neighbors). All homes have lake access via a trail to the cluster dock, even if they are not direct lakefront property.
The Cluster couldn’t be positioned better. It is located on Greenbriar Road and Orchard Lane off Fairway Drive, which is the south shore of Lake Anne. Fairway Drive provides easy access to both North Shore Drive and Wiehle Avenue.
For families with children, the cluster is an easy walk to Lake Anne Elementary.
Children also attend Langston Hughes Middle and South Lakes High School. For the parents, Lake Side Cluster is only 1.5 miles to the Reston Station Metro, and a short hop to Reston Town Center and the Toll Road. And, of course, a five minute walk to Lake Anne Village Center — home of the Reston Farmer’s Market, the Brew House and of course the Coffee House & Wine Bar.
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.
Bentana Woods is one of those Reston neighborhoods that makes you forget you live in a bustling urban area.
Built in1972 by Bennett of Virginia, this community is located in the Tall Oaks section of Reston, Virginia — about 1 mile from the Wiehle Metro Station, a quick walk into Lake Fairfax Park and short drive to Reston Town Center or Lake Anne Plaza. The location is fantastic, which makes the fact that these townhouses are charming and well-designed even better.
Bentana Woods is actually two separate clusters — Bentana Woods Cluster has 48 homes while Bentana Woods West has 108 homes. More than 50% of the neighborhood lands are common areas with open grass, tot lots and stands of trees — trees that the National Wildlife Federation has certified as a Backyard Wildlife Habitat.
The townhomes feature 3 to 4 bedrooms with about 1,700 square feet of living space.
It will be interesting to see the new construction come up in the location of the old Tall Oaks Shopping Center. I think it will bring some positive exposure to this wonderful neighborhood.
If you want to be close to the action, but feel like you’re living in a National park, Bentana Woods is the Reston neighborhood for you!
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.
In May of 1966 when the Lake Anne Village Center was dedicated it was like a scene out of “Mad Men” with its modern architecture and edgy hip vibe.
The Plaza architects, Whittlesey & Conklin hired a graphics design firm out of New York, Chermayeff and Geismer, (now Chermayeff, Geismar & Haviv) to create an advertising package for the Plaza storefronts. While the goal was advertising, the results spoke of the pop art aesthetic of the time and reflected Bob Simons wish for whimsical artwork on the Plaza.
Sadly, most of the icons have been lost to time, or have been modified to reflect the current business. The Reston’s Used Book Shop pillar sign was originally a giant barber pole! The last of the icons resided on Lakeside Pharmacy, in business for 44 years before owner Larry Cohen retired.
When two new businesses moved into the old Pharmacy space a new store front was created to provide more glass storefront. The icons were donated to the Reston Historic Trust & Museum in order to preserve them. The icons have been cleaned up, preserved and are ready to be installed on the Plaza as part of a permanent exhibit that highlights the history of the Plaza.
The museum is doing a fund raiser to pay for the permanent installation of the icon exhibit. The exhibit will be installed in the wide pass-through that leads up to Chimney House, next to Singh Thai.
The goal is to raise $15,000; they’ve got a ways to go but are hopeful that with help from the community they can get there soon. I hope you’ll consider a contribution to preserve a piece of our history.
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.
You don’t have to be a real estate investor or a house flipper to share in the benefits of buying a fixer-upper.
I encourage all of my buyers to consider houses that will require some work to get them back into pristine shape because I know it represents the very best opportunity for gaining equity quickly.
What qualifies a house as a good fixer-upper target?
Location — you want the worst house in the best neighborhood. The old real estate adage is true, location, location, location. It’s the only thing about your house that you can never change is where it sits.
If you’re going to buy a fixer-upper look for one in a great neighborhood; you’ll benefit from the higher values of your neighbor’s homes and protect your ongoing investment as you bring your property up to snuff.
Develop an eye for cosmetic problems and be suspicious of potential structural problems. Old wall-paper, peeling paint, tons of stuff piled in the yard? These are relatively easy fixes, even having to replace old windows or an HVAC aren’t difficult things to do with the right expertise but, a structural problem can be serious and it can be seriously expensive to correct.
Arm yourself with knowledge by assembling a good team of subject area experts, inspectors and contractors and in Reston be sure you understand the design covenants of the property you’re considering — knowing what you’re getting into will protect you from costly errors down the road.
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’s housing inventory is holding steady at 117 properties. The past 30 days saw a drop in the number of settlements which is consistent with the holiday season just past.
What is really interesting is looking at the properties in a “Pending” status. These are homes that have sold in the last 30 days that are making their way through the sales process. What’s interesting about this group of pending properties is their average “Days on Market” is 18 compared to an average of 63 for the houses in a “SOLD” status over the same 30 day period.
What this tells us is that demand is on the increase, good news for those considering listing their homes for sale.
If you are thinking of selling — take these simple steps to shorten your days on the market and maximize your sales price. And don’t forget to go through your pre-listing cleaning checklist.
- Purge, purge, purge. If it’s not something you’re taking with you to your new home, get rid of it now.
- Clean, clean, clean. After you get rid of your excess abundance, make it clean as you can. Clean it from top to bottom — light switches, light fixtures, door jams, base boards. It’s the least expensive thing a home seller can do to help get their home sold.
- Get to the right price. Even in a fast moving market you have to be at the right price. Every home on the market has a sweet spot that says “this is the right price for the condition and updates of this home.” Don’t leave a lot of room in your price; it just encourages buyers to wait.
Here are a few of the houses that sold this past week in Reston:
11520 Underoak Court
3 BR/2.5 BA
List Price: $399,000
Sold Price: $405,000
2158 Golf Course Drive
3 BR/3.5 BA
List Price: $475,000
Sold Price: $475,000
1662 Valencia Way
3 BR/3.5 BA
List Price: $420,000
Sold Price: $410,000
1863 Michael Faraday Drive
3 BR/2.5 BA
List Price: $686,421
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’ve been working with a buyer that wants new construction which has taken me into Reston’s newest neighborhoods. It’s been fascinating to explore these areas — seeing the new bump up against the old and start to get of sense of what could emerge.
Reston’s most recent round of residential construction outside of Reston Town Center was 2005/2006 when the Mercer Building and Carlton House were built. All of the construction since that time has been luxury apartments.
The Sekas Homes project, called Sunrise Square has a prime location within half a mile of the current and future Metro stops. The project includes a 10 unit condo building and 34 townhouses.
The condo’s which are nearly sold out are light and roomy with beautiful finishes, many of them have views of Reston National golf course. The condos also come with enormous temperature controlled storage rooms located in the basement of the building which makes them great for empty nesters that haven’t quite purged off all of their old life possessions; or anyone with hobbies and gear!
The garage townhouses come with a range of options but the baseline models include:
- Outdoor living on two levels with a main level deck and rooftop terrace overlooking Reston
- 9′ ceilings throughout
- 3-4 bedrooms and 4.5 baths
- Gourmet kitchen with high-end appliances
- Access to all of Reston’s amenities
For those worried about the vertical nature of townhouse living there is a floorplan that includes an optional elevator. Other options include outdoor fireplace for the rooftop terrace.
Sekas Homes is an award winning custom home builder with a reputation for beautiful high quality projects. They’re known for their green building methods and have won awards from the city of Vienna and Fairfax County.
Residents of this new neighborhood are full dues paying members of the Reston Association and have access to all of Reston’s amenities.
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’s not just about the houses.
One of the biggest surprises of being in real estate was realizing how little the work turns out to be about houses and how much more it is about walking with people as they navigate different life transitions.
I love the HGTV real estate shows where the real estate agent shows a buyer 3 homes and voila, they pick a house, write a contract, move in and the next time you see them they’re at a house warming party — all this in 30 minutes. As is often the case with realty TV, it’s not very real.
In real life people are dealing with all kinds of events that are driving them from one place to another place.
Some are happy, some are sad, some are speculative but it is mostly about life changes, marriage, births, deaths, retiring, divorcing, new jobs and lost jobs. Sometimes it’s about more than one thing, a new marriage and a new job.
Change is almost always hard for people; we are rarely at our best when we’re moving through transitions. Real estate agents spend a lot of time with people who aren’t at their best, but they might be more real than if you had met them at a cocktail party.
It’s one of the things I like about my job, the connections that are made if only for a short while.
Here are the Reston numbers. There are currently 104 fully active properties on the market in Reston. We have 55 pending properties which leaves us with a little less than two months inventory. Obviously in our market a prolonged government shut down will be damaging to our housing market but hopefully we’ll find a way past that impasse soon!
