An update on the Reston Town Center’s Best Value
Introduction – Nestled 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 Neighborhoods – Immediately 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.
Possibly the most popular of the four neighborhoods is Logan Park, an enclave of 97 traditionally-designed, spacious townhomes built by Christopher Company and Trafalgar.
Logan Park – Built between 1998 and 2000, these homes have been the most popular sales in the last two years in West Market. In a market marked by tight supply, and extremely strong demand for these home, prices have firmed and moved up smartly. HOA fees are an absurdly low $140/month on average, and the community is extremely well maintained.
There is significant demand for these homes and virtually no available supply. Residents should be very leery of too-good-to-be-true “off the market placements”, which generally create sales that are well below what could have been garnered in a competitive listing. Regardless of overall market pricing trends in 2016 and 2017, whatever they may be, prices will be extremely strong in Logan Park.
The combination of quality upscale living, convenient location, limited competitive supply, and absurdly low monthly maintenance fees make this community an excellent value for those seeking the utmost in upscale urban living.
Ray Wedell, Realtor and Zillow Premier Agent
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 three West Market neighborhoods. 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 are driving prices higher, and available listings generally sell quickly at recently-advertised prices.