If They're Still There on Sunday: Reston Waterfront Open Houses

The real estate market in Reston has been wild the past 60 days. Average days on market for property that has gone under contract in that period is just 18 days. When you include the property that actually settled the numbers go up a bit to 28 days but still a fast market by any ones standard.

Inventory is still low but beginning to loosen up as people begin to list for the Spring Market. We've seen a return of the Escalation Clause and some waiving of Home Inspections in the flurry of trying to write a contract that stands out to the sellers.

What we have not been seeing is a crazy run up in property values. Pricing is still very sensitive. Perhaps it is the vast amount of data available to home buyers but sellers that think they will cash in on the low inventory by throwing their homes on the market with outlandish price tags are sadly mistaken. Homes that are priced well according to their condition will go fast, but the rest will languish racking up the days on market. So while the market is moving very quickly a fast sale is more about coming in with a strong pricing strategy designed to create urgency in the buyer to insure that the price is driven to the full market value.

If you like Reston waterfront you might want to drop in on these two properties located in great lakefront neighborhoods. 

1620 WATERS EDGE LN 4 BR 3.5 Baths 2434 Sq. Ft. $700,000.

11056 THRUSH RIDGE RD 3 BR 3.5 Baths 1913 Sq. Ft. $635,000.

Click here for a list of all the Open Houses for this Sunday.