Reston Virginia real estate, Reston Town Center Condos, Townhouses, MLS

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Condo and townhouses prices for Reston VA Condo inventory for Reston Virginia real estate

 

Reston, Virginia is a maverick of sorts as far as real estate in Northern Virginia is concerned.  That is to say it was and is a planned community.  In fact it was the first modern planned community in the United States and its founder was Robert E. Simon.  Planned communities have noble goals of setting up ideal and self-contained towns that focus on quality of life by avoiding unplanned development and the hazards thereof.  One of the goals of Reston condos real estate has been to preserve open space.  I can say from having shown 1000s of homes in Fairfax County that Reston VA condos is unique in terms of how "green" it is.  So many houses and even townhouses are as if you are living privately in the middle of the woods/forest.  Often the Reston neighborhoods are very quiet and private compared with the rest of Northern Virginia real estate.

Reston Condos VA Real Estate, Townhouse, Homes for Sale

There approximately 20 community pools in Reston VA, miles and miles of footpaths, several lakes...well you get the idea.  It's very green and proportioned so that its residents all get to share its resources regardless of income--very noble. This is why almost all if not all residents pay a modest association fee to Reston VA condos.  One of the annoying aspects of Reston real estate is that it has always labeled its neighborhoods as "reston".  From a realtor's point of view that is a hassle.  Every home in the area is in the neighborhood of  Reston.  That often makes narrowing comps down for a home challenging.  To search the Reston condos and Virginia MLS for real estate click here.

 

reston condos and townhouses

The 2007 Condo Market in Reston VA

In analyzing data for the 20190 zip code of Reston for the 1st quarter there are several trends regarding condos in the area of Reston Town Center.

 

reston real estate in va and condo

For Feb-April 2007 versus 2006 for that area which is mostly comprised of condos and townhouses, the median sales price has been down (in percentages) 10, 0 and 18% respectively for those months compared to 2006 Feb-April.  So there was at least a 10% correction in market values for condominiums--at least the newer luxury condos.  More telling has been a serious drop in demand with a negative 23, 12 & 48% decrease in transactions for those months in 2007.  The good news is that even though there is a big drop off in transactions the inventory is still much lower than a year ago 141 active condo listings in 20190 versus 194 in April 2006.  

Reston Town Center

It has been described as a suburban downtown.  The Reston town center is sort of like an outdoor mall with fountains, art, an ice skating rink and year round events such as Taste of the Town, Pet Fiesta and numerous outdoor concerts for the public.  It hosts a variety of retailers including Williams-Sonoma.  The open avenues and wide sidewalks of the town center are no accident.  Nothing in this city is.  What is so interesting about the center is that all around are townhouses lining the surrounding open avenues and condos so that 1000s of residents are within a 5 minute walk of the center.  For more info on the town center and Reston condos you can check out Wikipedia.

 

The Future of Condos in Reston near the Town Center

The area is excellent and will be close to the new metro at some point so long term it's a great area to invest in.  Short term there's more room for many prices to drop or for sellers to negotiate down.  Other than that time will tell about the condo market in Reston.  And here you can find a directory of condos in the Reston area.

Reston Virgina homes for sale

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The listing content relating to real estate for sale on this web site is courtesy of MRIS. Listing information comes from various brokers who participate in the MRIS IDX.Properties listed with brokerage firms other than JustNewListings.com are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers.The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified.All listing information copyright MRIS 2014.

Listing information last updated on December 18th, 2014 at 12:01am EST.

The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Charleston Trident Multiple Listing Service. Real estate listings held by brokerage firms other than Keller Williams are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.

Copyright 2014 Charleston Trident Multiple Listing Service, Inc. All rights reserved.

The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Wilmington Regional Association of REALTORS®, and is updated as of December 18th, 2014 at 2:15am EST (date/time).All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor CoastWalk Real Estate shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. © 2014 MLS of WRAR, Inc.