Reston Real Estate Neighborhood Report
2013 Sales – Waterford Square
Summary – Waterford Square Condominium in Reston is a unique, brick building with 48 units, originally built in 1981. Waterford Square is shaped like a square, with 8 units on each of six floors. The elevator shaft runs down the middle of the square, with four diagonal hallways branching out in each direction, leading to an entry to two units. Another way to visualize this is to imagine a square, with an “X” draw in. The elevator shaft is at the center of the “X”, with entry to units down each of four corridors.
These homes are unusually large and well-located, across the street from the Hook Recreational open area and near Lake Anne. It represents an unusual value in a desirable neighborhood.
Sales for 2015 follow:
Date Unit No. Sales Price No. BR/bath Sq.Ft. Price/Sq.Ft.
Sept 2015 402 $260,000 1/1 1,255 $207
Aug 2015 505 $490,000 2/2.5 2,058 $238
Outlook for the Future Pricing in Waterford Square – Nothing in this Reston area sells for as little per square foot as Waterford Square. Only 48 units in an older brick building, Waterford Square lacks the glitz and glamor of some competing units; however, it is a clean, safe building in a great area: one mile from the Reston Town Center; a few blocks from Hidden Creek Country Club; near Lake Anne; and across from open park, recreational land. This is a very quiet, affordable building in an upscale neighborhood.
At a minimum, there will be price stability in Waterford Square. There is a chance that buyers wake up to the value, and drive prices higher in 2016.
Ray Wedell, Realtor
Chartered Financial Analyst, CFA