2010 Summer Real Estate Update
Posted by admin on Jun 10, 2011 in Reston Real Estate Report
I hope you are having a great summer! This is an abbreviated look at the Reston real estate market. As always, call if you have a question, concern/problem or need specific information… better yet, stop in and visit at our new location on
Lake Anne Plaza
For sale
Currently there are 254 homes for sale in Reston. 50 detached homes ranging from $345,000 to $1,395,000 w/ average list price (ALP) of $706,944; 101 townhomes ranging from $229,000 to $949,867 w/ ALP of $422,867 and 103 condominiums ranging from $105,000 to $1,199,000 w/ ALP of $314,247. Opinion – we could be selling more homes, if we had more inventory. Years past (pre-2003) we would have inventory of between 500 and as many as 800 homes for sale.
Sold
| #SOLD | ALP | ASP | DOM | TOTAL VOLUME | |
| Condos ‘09 | 174 | $289,915 | $278,258 | 62 | $48,416,840 |
| Condos ‘10 | 231 | $278,973 | $273,978 | 34 | $63,289,020 |
| THs ‘09 | 225 | $357,661 | $349,773 | 50 | $78,669,030 |
| THs ‘10 | 245 | $396,785 | $389,500 | 33 | $95,427,490 |
| SFD ‘09 | 131 | $632,849 | $611,566 | 56 | $80,115,100 |
| SFD ‘10 | 115 | $655,340 | $638,489 | 36 | $73,426,270 |
Interest rates
Still absolutely incredible (and at 50 year lows some weeks) – currently about 4.5% on a thirty year fixed mortgage. Buyer tax credits are a thing of the past… although the time to get to settlement, if you were under contract by April 30, was extended until the end of September. FHA still thriving w/ a minimum down payment of 3.5% – great for bringing first time home buyers into the market!
We are proud to have saved our sellers an average of $12,000 in 2009 by paying 4.5% vs. a 6% commission!
Jon Querolo, Broker
Beneficial Real Estate
Related posts:
Meet Jon Querolo
Jon Querolo (pronounced: core-elle-o) provides clients with unparalleled real estate knowledge and experience. As a Reston resident since 1965 and a Realtor since 1976 his knowledge of the Reston market, neighborhoods and amenities are second to none.
He spends his time helping and advising people wanting to sell their homes and those looking to buy a home. In his 25+ year career in Reston real estate he has personally sold hundreds of homes for Reston residents.
He has excellent listening, marketing and negotiation skills with a goal to get the job done in a professional and stress-free manner.
