Reston Town Center year in Review 2014: The Paramount

2014 YEAR IN REVIEW Paramount

The above link provides a cleaner view of the post below…..

—2014 YEAR IN REVIEW—
And projections for the immediate future…………

THE PARAMOUNT

Reston Town Center PAramount

Overall Market Review – The local real estate market may be undergoing a significant shift from recent years. The RayMaxTeam Year in Review reports for 2011, 2012, and 2013 all cited much stronger underlying fundamentals than was generally predicted at that time, citing many forces which would drive prices much higher than consensus forecasts. Naysayers could us polyannahs, but the RayMax forecasts proved more accurate. For the first time since 2009, this annual review is citing caution for those expecting big price appreciation for the market in the upcoming year, especially the first half of 2015. The yellow light is on, not red and not green: I welcome any discussion on this topic and feel free to contact me at any time.

A Review of The Paramount and Projections For 2015 – There were seven sales reported on the MLS for The Paramount in 2014. They are listed below. It is often difficult to draw broad-based conclusions, given the difference in individual circumstances surrounding each sale. However, “on the ground” professionalism combined with actual raw data yields better awareness than either of the two in isolation. In 2014, three of the seven sales were among the most magnificent homes in The Paramount: Penthouse 1501; Terrace Penthouse 1302 (the most magnificent home in the building, in my estimation); and beautiful 3 bed room #808. These three sales help boost the average “per square foot” sales price.

Projection for the Immediate Future Paramount Sales and Pricing – The Paramount stands on firmer footing than many of its peers. With only 100 units, spacious, quality construction, premier location one block from the Reston Town Center’s main square, and many superb wrap-around models, The Paramount is unlikely to fall prey to the danger of “too many comparable listings”. The many buyers who seek the unique quality and location of The Paramount will likely continue to drive prices and create a solid floor for pricing in the immediate future. There should be less volatility in price movement and solid appreciation potential.

2014 Paramount Sales:
Date Sold                         Unit Number              Price              Sq. Ft.                  Price/SF
March                                          704                  $799,999         1,764                      $453
April                                            1207                     771,000        1,744                        442
April                                            1302                 1,725,000        3,065                        563
July                                              1501                 1,265,000        2,540                        498
July                                               903                    545,000         1,214                        449
Sept                                               203                   505,000         1,214                         416
Dec                                                808                  900,000          1,891                        476

• Seeking a more detailed discussion on this report?
• Looking for a true market analysis of your home?
• Thinking of listing in 2015, and seeking to have it promoted as a high- end home in a unique, high end neighborhood should be promoted?

Ray Wedell, Realtor
Chartered Financial Analyst, CFA
RE/MAX Gateway
http://www.RayMaxInternational.com
703-855-7299
raymaxteam@gmail.com

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About RayWedellRealEstate

Real estate professional with Samson Properties. Chartered Financial Analyst, CFA
This entry was posted in Beacon Hill golf course Virginia, Para, Paramount, Paramount 2014 sales and analysis, Paramount Reston home sales, RayMaxInternational, RayMaxTeam, Reston Town Center 2014 sales, The Paramount and tagged , , , , , , , . Bookmark the permalink.

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