Summer 2014 Reston Real Estate Market Update

Posted by on Jul 22, 2014 in Reston Real Estate Report

Summer 2014 Reston Real Estate Market Update

Happy Summer!                                                                                                  Summer 2014

Greetings and happy summer to you and family!  I hope you are having a great summer so far.  This is a brief look at the Reston real estate market.  Home sales are sizzling in Reston along with some amazing heat!  We continue to benefit from low interest rates and low inventory of homes for sale.  Excitement of the pending opening of the new Silver Line Metro at Wiehle Ave. on July 26th has brought many new and prospective buyers to the community.

Sales – Reston home sales are strong yet running at a slightly slower pace than last year.  For the first six months of the year we sold 96 detached homes (vs. 120 last year), 236 townhouses (278 in 2013) and 186 condominiums (vs. 202 in 2013).  The average days on market/time to sell is (just) 30 days for all categories.  Exceptionally strong sales were noted in condos at the town center and any townhouse or detached home with a main level master bedroom.   As we have stressed for years:  homes always sell quickly and for top dollar if well maintained and priced appropriately.  Upgraded and top notch homes get top price!   If you have thought about selling now is an ideal time, call me to discuss your plans, I can help with vendors, work to be done, staging, etc.

Interest ratesSimply amazing and in the low 4%’s for thirty year fixed; fifteen year fixed available in the low 3’s!  If you can afford the higher payment the 15-year is always a good way to go as it saves many thousands of dollars over the life of the loan in interest.   Call for more details or a reference on a good loan officer.

New construction –   Currently no new construction is available in Reston.  The new ‘Avant’ is open and welcoming new tenants at Reston Town Center (across the park from Midtown).  Construction is underway on the twin towers at Reston Parkway and Temporary Road.   Will be luxury rentals and called The Harrison at Reston Town Center.

What’s new/what’s going on – I have been busy listing and selling homes – thank you for your referrals!  Summer concerts are at Lake Anne and RTC, farmers market and bazaar at Lake Anne Saturday mornings until Fall.  Expanded boat rentals are back at Lake Anne, Thursday to Sunday.  Best picks – Ariake for Japanese food, Il Fornaio for Italian, Jacksons and Passion Fish cannot go wrong ever, Kalypso for the food and setting on Lake Anne.   Long time stalwart on Lake Anne Jasmine Café closed suddenly and will not reopen, look for a new restaurant to take over soon!

If you need help with real estate, have a question or problem or know of someone needing a Realtor please think of me and thanks for your help and support as always!

JON

Jon Querolo, Assoc. Broker

The Reston Experts since 1967

The Long and Foster Companies

703-585-4900 or 571-926-9085

 

 

 

 


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