Reston Real Estate Market Rised 5 Percent in 2019

The statistics for 2019 real estate transactions in Reston have been revealed and the numbers are up 5 percent from 2018, with 1,383 total transactions in 2019, an increase from 1,316 total transactions in 2018. There is also a 2 percent increase in total transactions from 2017 to 2018.  Overall, the Reston market has had considerable improvement in the past three years in all three zip codes.

According to Reston Connection, “Reston zip code 20190, which includes in and around Reston Town Center (and also includes the aforementioned new construction at Wiehle Metro Station) experienced the biggest volume increase, from 408 sales in 2018 to 488 sales in 2019, a whopping 16 percent increase. The two market segments that led the charge is the under $500K price point and the $500K to $750K price point. South Reston zip code 20191 experienced a much-needed increase in a number of sales after a slight dip from 2017. There were 596 home sales in 2019 compared to 574 in 2018. Their largest increase was in the upper brackets, $750K to $999K, up 28 percent. One factor that contributed is the new construction luxury townhomes at Sunrise Valley Dr. which started construction in 2018.”

As per Reston Connection, “As we move into the new year of 2020, there are strong indications that Reston homes priced well and in good condition will sell for solid prices. If demand in Reston continues to remain strong relative to supply, some market segments may continue to experience multiple offers and price appreciation. Home Buyers in the area can still purchase with the confidence that buying in an upmarket cycle frequently proves advantageous over time. Now is the time to work with a professional agent to be in your new home in 2020!”

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Maryam

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Maryam N. is a Senior Writer at Nesbitt Realty. She is an expert on Fairfax County. Maryam has also worked previously as a geologist. She is a foodie and enjoys cooking and exploring new restaurants.