Here is a report on the market activity for Reston, VA, 20194 zip code, for December 2011.
December is a notoriously slow month for real estate in the Northern Virginia area. This December did not behave any differently. In fact, this December was even slower than December of 2010 in the 20194 zip code--and in all of Reston (click here for the 20191 Market Report and for the 20190 Market Report).
While consumer confidence is slowly regaining its foothold, buyers are still reluctant to move forward. Retail sales saw growth in November and December which could mean that consumers were spending their time and money on retail, rather than real estate, purchases.
3 Bedroom Townhouses continued to be the most popular homes sold in 20194 with the Average sold price up from the December 2010 average of $479,000 to the December 2011 average of $510,557, a 6.59% increase.
Detached, 4 Bedrooms+ homes saw the greatest price decline with the average sales price in December 2010 being $846,000 and the December 2011 average price at $706,875. This was a decrease in average price of -16.45%. It was a relatively few number of homes, 4 in 2011 and 5 in 2010, that impacted this average price.
The inventory in the 20194 zip code continues to be tight. Assuming more buyers get into the market this spring, it could create more favorable condtions for sellers than we have seen in a while.
If you are interested in finding out more about properties available in the 20194 zip code, text, call or email me at 571-643-4902, hollyweatherwax@mris.com.
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