Reston Town Center Report – EdgeWater at Reston Town Center townhomes
Summary – There are 81 fee simple townhomes in the EdgeWater at Reston Town Center development. Fee simple homes are owned by the home owner, not a condominium. Fees are lower, often much lower, but the home owner has financial responsibility for exterior maintenance. These homes, built in 1995 and 1996 are in addition to the 174 condominiums in the development, on Lake Shore Crest Drive.
There are very few fee simple homes in the Reston Town Center, and only two of 81 sold in EdgeWater in 2015. Both sold quickly.
Sales were as follows:
Address Sale Date Sale Price No. BR/bath Sq. Ft. Price/Sq.Ft.
1706 Random Stone April 11 $540,000 4/3 1,627 $332
1709 Blue Flint Aug 20 $500,000 3/2 1,464 $342
Future of EdgeWater at Reston Town Center Town homes – The relatively underpublicized town homes at Edge Water are an excellent alternative for those who do not want to pay higher condo fees, preferring instead to live in a fee simple town home. The location and price point are excellent in today’s market. Homeowners at EdgeWater should note that both sales, above, were under contract quickly upon listing. This often is an indication that “money was left on the table.” Realize the value of your home and location.
Ray Wedell, Realtor
Chartered Financial Analyst, CFA