Reston Town Center Housing Report: West Market, the “Urban Oasis”

RAY WEDELL REAL ESTATE REPORT

WEST MARKET: An Urban Oasis 

An update on the Reston Town Center’s Best ValueImage

IntroductionNestled a short stroll west of the Reston Town Center is a real estate jewel known as “West Market.” A community of less than 500 homes, this neighborhood provides the excitement and convenience of the new urban life style in a well-groomed and somewhat secluded setting. Rarely do you find such a combination of privacy/seclusion and immediate access to a vibrant and populated urban center.

Nearby NeighborhoodsImmediately surrounding the Reston Town Center, popular high-end condominiums have sprouted The trend toward living in more condensed urban settings, in homes which have extraordinary modern conveniences, is one which will continue. However, many people who consider buying in the Reston Town Center area gravitate to these locations without realizing the enormous value in West Market. For those who examine the benefits West Market and compare them to comparably priced, or higher-priced condominiums, buying in this premier community is preferable.

 

Specific West Market Neighborhoods The homes in West Market are maintained in a manner which displays the pride of quality ownership one would expect in a prestigious community. The grounds are maintained and landscaped at a very reasonable monthly fee, significantly lower than the condo fees in neighboring buildings. This generates a lower monthly cost of ownership which should be better appreciated  by those looking to buy in the RTC. The four distinct neighborhoods within West Market are: Park Place; Logan Park; Lincoln Park, and; Madison Park.  There are currently no listings in Logan Park, one of two “fee simple” sections within West Market.

The two most  exclusive neighborhoods in West Market are the fee simple communities called Park Place and Logan Park. A summary description of Park Place and Logan Park are as follows:

Park Place – The all-brick homes in this section are the closest in proximity to the Reston Town Center. Originally built by Miller and Smith, these unique homes combine elegance and a touch of urban glitz with quality craftsmanship. The signature home in this award-winning development is the four-level “London” model, a spacious 4-level model with large two-car garage and rooftop terraces, some of which face the Reston Town Center skyline. Some owners have added elevators to their homes, a magnificent addition which vaults the London model beyond many condos often priced twice as high, and which carry condo fee up to ten times the $140/month HOA fee borne by owners of the West Market London home.

Logan Park – Logan Park is home to more traditional-style town homes which have gained in popularity over the years. The two original builders, Christopher Company and Trafalgar, built beautiful homes to last, both in quality of construction and architectural design. The Reston Town Center housing is dominated by condominiums, and there will likely never be any fee simple ownership opportunities again. This adds to the allure and value of Logan Park. As this is written, spring of 2016, the demand for Logan Park homes is strong with no supply currently available.

The combination of elegant upscale living, convenient location, and absurdly low monthly maintenance fees makes the West Market fee simple town homes an excellent value for those seeking the utmost in elegant upscale urban living.

Ray Wedell, Realtor and Zillow Premier Agent

Samson Properties      703-855-7299

www.TownCenterRealtor.com

raywedell@comcast.net

 

March, 2016……. This is an update to a series of pieces originally written in 2005.

 

****Contact me for a report detailing each of the other two West Market neighborhoods as well. I will be happy to discuss and show you the wide variety of styles available in West Market; however, keep in mind that current market conditions may drive prices higher, and available listings generally sell quickly at recently-advertised prices.

Contact me for a separate report on all sales in West Market for 2015. This is a community in high demand, and I expect prices to continue to be strong in 2016.

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About RayWedellRealEstate

Real estate professional with Samson Properties. Chartered Financial Analyst, CFA
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