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Home, sweet home sales in Reston
Single-family home sales rose last year in two of three Reston ZIP codes. The third area suffered a decline of less than 1 percent. The result was a 5.1-percent sales hike in this category for Reston last year, as compared to 2006. It was accompanied by a modest decrease in the median price, by 2.3 percent, to a total of $645,000. This welcome news came from Ying-Ying Li at Long & Foster in Vienna.
The highest leap occurred in the 20194 area. Here, the 84 single-family units sold led to a 9.1-percent rise. This zone also had the highest median sales price, of $799,955, for single-family homes.
The 20190 area followed, with a 6.3-percent rise, to a total of 17 single-family units sold. This median sales price was $645,000. A 0.8-percent decline occurred in the most affordable sector, where 105 houses were sold. This was area 20191, with its $599,450 median sales price for a single-family home.
All of these median prices, however, showed a modest decline. They dipped by 5.9 percent in the 20194 area, 0.7 percent for 20190 and 0.5 percent for 20191. The result was a total decrease of 2.3 percent in the median prices for Reston's single-family homes.
Townhouses showed a different pattern. In the 20191 area, with its $380,000 median, those enjoyed a 3.8-percent sales increase, to a total of 246. In 20194, with a median price of $472,500, they fell by 4 percent, to 144. In 20190, with a $430,000 median, the drop was 5.5 percent, to 120.
The median townhouse price, however, actually rose for the 20194 area, by 0.6 percent. It fell by 1.4 percent and 4.8 percent, respectively, for 20190 and 20191.
Condo sales dropped in all three areas. The decline was most modest in the 20194 zone. Here, the sale of 48 condos meant a 4.0-percent decrease. In areas 20190 and 20191, respectively, the drops were by 23.9 percent and 27.1 percent, for total sales of 249 and 151.
The median condo price rose by 4.6 percent in area 20194, to $339,500. In the 20190 and 20191 zones, however, it declined by 3.7 percent and 7.6 percent, respectively, to $329,000 and $254,000.
Dwellings in all categories took longer to sell in 2007 than they had the year before. In the 20194 zone, they rose to totals of 107, 65 and 87 days, respectively, for single-family homes, townhouses and condos. This meant increases of 39 percent, 7 percent and 13 percent. In area 20190, the totals were 136, 69 and 85 days, respectively, showing percentage increases of 66, 10 and 26. In the 20191 sector, the totals were 105, 75 and 85, for percentage increases of 38, 10 and 33.
The result was an 8.1-percent decline in home sales for the entire community. This included totals of 228 single-family homes, 509 townhouses and 439 condos. In addition to the 5.1-percent increase for single-family homes, this meant dips of 0.6 percent and 20.3 percent for townhouses and condos, respectively.
If single-family houses attracted more home buyers, they took longer to do it. Their average number of days on the market rose to a total of 109 for 2007, thus showing a 40-percent increase over 2006. Townhouses and condos, respectively, increased their average waiting time to totals of 71 and 87 days on the market. This meant rises of 5 percent and 26 percent in this unenviable category, for a total hike of 24 percent.
(Next time: The Year in Herndon)
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